Let’s explore from GSTR 9.
What is GSTR 9?
GSTR 9 is an annual return. This GSTR 9 annual return should be filed once a year by the taxpayers who are registered under GST.
GSTR 9 will include all your business inward supplies (purchases and expense) and outward supplies (Sales and any other services provided) either received or made during the respective financial year. This process is done beneath the various tax heads i.e. SGST, CGST, IGST, & the HSN codes.
This GSTR 9 filing holds the GSTR-1, GSTR 2A, and GSTR 3B monthly/quarterly returns, which are filed on the respective financial year.
Who should file GSTR 9 annual return?
Each taxpayer who registered under GST must file GSTR 9. Here is the list of business individuals who don’t need to file their GSTR 9.
- Composition scheme taxpayers (However, they must file GSTR-9A)
- Non-resident taxable persons
- Casual Taxable Person
- Business individuals who pay TDS, under section 51 of the CGST Act
- Input service distributors
Note: Businessers who have their turnover up to Rs 2 crore have made it optional to file GSTR 9 annual return from FY 17-18.
Due Date to file GSTR 9
The due date for filing GSTR 9 by taxpayers is 31st, December of the following financial year. For example, the due date to file GSTR-9 for FY 2020-21 is December, 31st 2021.
However, the GSTR 9 annual return filing due date extended up to February, 28th 2022, which is updated on December 29th, 2021.
GSTR 9 Late Fee and Penalty
The late fees for business individuals not filing GSTR 9 on or before the due date are 100 per day per act.
Late fee for GSTR 9 = Rs 100 under CGST + Rs 100 under SGST
Thus, Rs.200 per day is a penalty for GSTR 9. Yet, there is no penalty for or late fee for IGST.
The taxpayers registered under GST including businesses, registered under the composition scheme need to file GSTR annual returns. Currently, the GSTR 9A form was disabled from FY 2019-20 after being substituted by revised GSTR-4. GSTR 9A was made optional and it can be filed for both the financial year – 2017-18 and FY 2018-19.
What is GSTR 9A?
GSTR 9A is an annual return. This GSTR 9A annual return should be filed once a year by the taxpayers, who are registered under GST for a specific financial year up to 2018-19. It holds the quarterly returns — filed by the composition taxpayers during that particular financial year.
Who had to file GSTR-9A?
The registered taxpayers under the composition levy scheme are required to file GSTR 9A. Here is the list of business individuals who don’t need to file their GSTR 9A.
- Non-resident taxable person
- Casual Taxable Person
- E-Commerce operator paying TCS (Under the act of section 52)
- Input service distributor
- Business Individuals paying TDS (Under the act of section 51)
Due Date to file GSTR 9A earlier
The due date for filing GSTR 9A by taxpayers was 31st, December of the following closure of a special financial year. For example, if the composition taxpayer under GST, was filing his annual return for the 2017-18 financial year, the taxpayer must have filed it, on or before 31st December 2018*.
GSTR 9A Late Fee and Penalty earlier
The late fees for business individuals not filing GSTR 9A on or before the due date are 100 per day per act.
Late fee for GSTR 9A = Rs 100 under CGST + Rs 100 under SGST
Thus, Rs.200 per day is a penalty for GSTR 9A.
What is GSTR 9B?
GSTR 9B is also an annual return. Also, this GSTR 9B annual return should be filed once a year by the e-commerce operators, who file GSTR 8 earlier during the financial year.
Who has to file GSTR 9B?
Under GST, every e-commerce operator should file GSTR 9B as mandatory. Here is the list of business individuals who don’t need to file their GSTR 9B.
- Input service distributors
- Casual taxable business persons
- TDS paying business persons
- Composition scheme taxpayers (if they require to file GSTR 9A)
- Non-resident taxable business persons
Due Date to file GSTR 9B
The due date for filing — by e-commerce operators, is 31st, December of the following financial year. For example, the due date to file GSTR-9B for FY 2020-21 is December, 31st 2021. However, the date is now extended to Feb 28, 2022.
Its Late fees and Penalty
The late fees for business individuals not filing GSTR 9B on or before the due date are 100 per day per act.
Late fee for GSTR 9B = Rs 100 under CGST + Rs 100 under SGST
Thus, Rs.200 per day is a penalty. The late fee can never be exceeded more than 0.25% of the respective business turnover in state or union territory.
What is GSTR 9C?
GSTR 9C is an annual GST reconciliation statement. It experienced a major updation in 2021.
Earlier, GSTR 9C was applicable for a business individual who has a turnover of more than Rs.2 crore in the financial year. This form required a books audit and record audits by the certified management accountant or chartered accountant. But, these requirements are updated and removed from FY 2020-21.
But at present, this GSTR 9C needs to be self-certified by the businesses themselves. Keep in mind, GSTR 9C has to be filed, after completing the process of filing GSTR 9.
Who has to file GSTR 9C?
The GST taxpayers with their business turnover surpassing Rs.5 crore in the last financial year, need to file GSTR 9C on a self-certification basis. The modification is applied from financial year 20-21. Additionally, GSTR-9C will be changed to help taxpayers with self-certification.
Due date to file GSTR 9C
The due date and the deadline for GSTR 9 and GSTR 9C are the same. The due date for filing GSTR 9C by taxpayers is 31st, December of the subsequent financial year. But the due date can be modified and extended based on necessity by the government.
Penalty for GSTR 9C Late Filing
The late fees for business individuals not filing GSTR 9C on or before the due date are 100 per day per act.
Late fee for GSTR 9C = Rs 100 under CGST + Rs 100 under SGST
Thus, Rs.200 per day is a penalty for GSTR 9C. *Limited to a highest charge of .50% (Under CGST – 0.25% + under SGST / UTGST – 0.25%) of turnover in the State/UT. These are applied for GSTR 9 filing process; Regardless, no particular conditions apply to GSTR-9C. And therefore, the filing of GSTR-9 for business and non-filing of GSTR-9C for business could be matter to a general penalty of Rs 25,000.
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