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The yearly return filed by the registered taxpayers in GST, including those listed under composition levy scheme, is known as GSTR-9. It entails features about the supplies made and received during the year underneath different tax heads i.e. CGST, SGST, and IGST. It associates the information provided in the monthly/quarterly returns during the year.<br>
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The yearly return filed by the registered taxpayers in GST, including those listed under composition levy scheme, is known as GSTR-9. It entails features about the supplies made and received during the year underneath different tax heads i.e. CGST, SGST, and IGST. It associates the information provided in the monthly/quarterly returns during the year.
GST Annual Return Applicable To: Every registered person together with individuals registered under composition levy scheme shall furnish an Annual Return in GSTR-9. However, the following persons are not required to file GSTR-9, • Input service distributors • Persons paying Tax under Section 51 (Tax Deducted at Source) • Persons paying Tax under Section 52 (Collection of Tax at Source) • Casual Taxable Person • Non-resident taxable persons.
Due Date for GSTR-9 GSTR-9 will be filed on or before 31st December of the succeeding fiscal year.
Information filed for GSTR-9 return • The total value of purchases on which ITC availed (inter-State) • The total value of purchases on which ITC availed (intra-State) • The total value of purchases on which ITC availed (Imports) • Other Purchases on which no ITC was utilized • Sales Returns • Other Expenditure (Expenditure other than purchases) • The total value of supplies on which GST paid (inter-State Supplies) • The total value of supplies on which GST Paid (intra-State Goods) • The total value of supplies on which GST Paid (Exports) • The total value of supplies on which no GST Paid (Exports) • Value of Other Supplies on which no GST paid • Purchase Returns • Other Income (Income other than from supplies) • Return reconciliation Statement • Arrears (Audit/Assessment etc.) • Refunds • Turnover Details • Profit as Per the Profit and Loss Statement • Gross Profit • Profit after Tax • Net Profit • Details of Statutory Audit
Should the GSTR-9 return be audited? Yes, Regular taxpayers registered under GST having an annual aggregate turnover of over Rs.2 crores throughout the financial year are required to file the GSTR-9 return with audited accounts. GSTR-9 accounts can be audited by a practicing Chartered Accountant or Cost Accountant.
