Annual return is a statement of return which is required to be filed annually by each registered person (except few specified categories of persons) under GST giving summarized details of outward supply and taxes paid thereon , input tax credits claimed, taxes paid and refund claimed in the financial year in respect of which such annual return is filed.

Notification dated Sept 4th, 2018 specifies the new format for filing annual returns. The Annual Return consists of various forms applicable to different type of taxpayers

1. What is GSTR-9?

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST and IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.

2. Who has to file GSTR-9?

All the registered taxable persons under GST must file GSTR 9. However, following persons are not required to file GSTR 9

• Casual Taxable Person
• Input service distributors
• Non-resident taxable persons.

3. How many sub-categories are there under GSTR-9?

There are 4 sub-categories under GSTR-9 viz. GSTR-9, GSTR-9A, GSTR-9B, GSTR-9C. As we have already covered about GSTR-9 in the introduction, let’s jump straight to its sub-categories.

4. What is GSTR-9A and who has to file it?

GSTR-9A is a simplified annual return filed by business owners who have opted for the composition scheme under the GST regime. This return includes all the quarterly returns filed by the compounding dealers in that financial year.

5. What is GSTR-9B and who is liable to file it?

GSTR-9B is the summary of details filed in GSTR-8 by taxpayers registered as E-commerce operators under GST.

6. What is GSTR-9C and who has to file it?

GSTR-9C is a return form required to be filed by registered taxpayers in case the aggregate turnover is more than Rs.2 crores. In this case, the taxpayer has to also submit a copy of audited annual accounts and reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year.

7. What is the penalty for not filing the above returns by taxpayers whom it may be liable to?

As per Section 47(2) of Central Goods and Service Tax Act (2017), a person will be fined a penalty of INR 100 per day (CGST) + INR 100 per day (SGST), amounting to a total of INR 200 per day if he/she fails to file GSTR-9 before the due date. However, the maximum amount of penalty a person can be fined is 0.25% of the total turnover.

8. When is the due-date for filing the above returns?

The due date for filing the above mentioned returns is 31st December of the subsequent financial year. For example, the due date for filing GSTR-9 for the financial year 2017-2018 is 31st December 2018.

How IRIS Sapphire can make GSTR 9 Filing Simpler

IRIS Sapphire helps you to automate your GSTR 9 preparation and simplify computation at various levels.  It provides computation details auto-drafted in the GSTR 9 form. Using the GSTR 1, 3B and Ledgers data uploaded, it computes the tables that get available in  auto-popuated GSTR 9. This enables you to verify and reconcile with the auto-drafted details.

It gives a section-wise view of the  GSTR 9 with auto-drafted details and uploaded details. This makes the review process easier and efficient.  This enables complete as well as incremental save of data.

IRIS Sapphire helps you bulk fetch of GSTR 9 auto-drafted details and also provides reports based on GST Returns data and reconciliation results.  This puts your GSTR 9 preparation on fast-track mode and supplements the data preparation process for additional sections of GSTR 9.

You can schedule a demo for GSTR9 fiing through IRIS Sapphire.

IRIS Business is a leading GST Suvidha Provider (GSP) providing easy and efficient solutions for GST (IRIS Sapphire) and E-way bill (IRIS Topaz) compliance. To have your GSTR-9 queries solved and to know more about our solution for filing GSTR-9, please request for a free demo or contact us at support@irisgst.com