A Comprehensive Guide to File GSTR-9

Filing GSTR-9 has become mandatory for businesses and, institutions registered under the GST Act by the government of India. Meanwhile, GSTR-9 consists of extensive details of all the transactions conducted or received, outward and inward supplies during that fiscal year. This article contains a comprehensive guide to file GSTR-9. The GSTR-9 comprises every detail of inward and outward supplies. The government portal of GST facilitates taxpayers to file GSTR-9. If the taxpayer’s turnover exceeds 2CR in a financial year it becomes mandatory to file GSTR-9.

What is GSTR -9? And Who Must File GSTR-9

Form GSTR-9, which contains the details of GST paid in local, and interstate import/export, has to be filed on 31st December of the next fiscal year. There are tools available to prepare GSTR-9 but the filing needs to be online as per government rules.

Mainly there are three reasons for a taxpayer to file GSTR-9 or annual return for a fiscal year.

1. Those individuals who are already a taxpayer including SEZ units and developers.
2. Those individuals who opted out themselves in the middle but still continue to be registered under GST.
3. Those taxpayers who converted themselves from VAT to GST in the first year (Financial Year 2017-18). Everyone else does not need any guide to file GSTR-9.

However casual taxpayers, Input service distributors, Non-resident taxpayers, etc. are not required to file GSTR-9. The regulations on GSTR-9 are supervised by section 44 of the Central Goods and Services Tax Rules in addition to Rule 80 of the Central Goods and Services Tax Rules 2017.

GSTR 9 Filing Due Date and Penalties

You have to file the GSTR-9 on time to avoid related penalties. The due date to file GSTR-9 for a specific financial year is generally December 31st. However, the government grants date extensions through official statements if there is any reason to do so. 

Prior to 2021-22 financial year, 200 rupees per day was charged (100 rupees for CGST and 100 rupees for SGST)

After the reform of the financial year 2022-23, 50 rupees per day (25 rupees CGST and 25 rupees SGST) is charged if the turnover is up to 5cr, and if the turnover exceeds 5cr the charges will be 100 rupees (50 rupees CGST and 50 rupees SGST)

Essential Information to File GSTR-9

Eligible taxpayers have to provide all the information across 6 parts and 19 sections to fill GSTR-9. With the following instructions, you can file GSTR-9.

Basic Details

Each business entity has to fill up some basic details while filing GSTR-9, to identify themselves, and the timing of return.

1. Financial year
2. GSTIN
3. Legal name.

Outward and Inward Supplies

Trading is something that occurs between the supplier and the receiver. Every business sells its goods and services to the recipient while the price of the goods and services (Tax) is transacted from the recipient to the suppliers. Every business, the goods and services they provide are outward supply and that same thing is called inward supply for the recipient.

1. Every Detail of intra-state outward supplies.
2. All the Details of Exports
3. All the details of other supplies on which GST isn’t paid.
4. Each detail of import supplies.
5. Each detail of intra-state inward supplies. (ITC availed)
6. Each detail of inter-state inward supplies. (ITC availed)
7. Each detail of import supplies. (ITC availed)
8. All the details of inward supplies on which no ITC availed.

ITC (Input Tax Credit)

Input Tax Credit or ITC helps every taxpayer to reduce their tax liability if they fulfill some conditions. The Goods and Services Tax is paid by taxpayers while any purchase for their business is ITC. It secures only the additional profit is taxed, to block any issue.

1. Each of the Details of ITC as per GSTR-2A.
2. Each of the Details of ITC as per GSTR-2B.
3. All Details of ITC available and ineligible ITC.

Additional ITC (Input Tax Credit) Reconciliation

1. All the Details of ITC were reclaimed and reversed.
2. Tax paid as declared in the returns filed during the financial year.
3. Difference between the net GST liability and tax paid on that fiscal year.

Eligible taxpayers must provide each detail accurately of that fiscal year.

Documents Required for GSTR-9

1. GSTR-1, GSTR-2A, GSTR-3B. Provide these to show monthly purchases and taxes.
2. Annual Financial Statements. Provide balance sheet with yearly profit and loss statement.
3. GSTR-9C (Reconciliation Statement). Provided to match GST return with financial data of taxpayers.
4. Taxpayer registration. The taxpayer must be registered under the Goods and Services Tax as a normal taxpayer in that financial year.
5. You have to fill up GSTR-1, and GSTR-3B for the entire fiscal year. It will help you to autofill further.
6. Tables 6A, and 8A are auto-filled and not editable.
7. Table 9 will be auto-filled from the information provided in GSTR-3 on that fiscal year.

Procedure to File GSTR 9

1. First log in to the government portal with the correct username and password.
2. Open ‘Returns Dashboard’ then click on the 'Annual Return’ option.
3. Select the relevant financial year.
4. After that, you will receive a message with options, for 'offline' or 'online' filling of GSTR-9.
5. Click on ‘Prepare Online’

• If there are no outward supplies, no receipts for goods and services, no credit card claim, no refund claimed, no demand order, and no other liability or late fees you can choose to file a nil return by clicking ‘Yes’.
• Or click on ‘No’ to skip this step.

1. For further assistance open all the tabs (1. GSTR-9 System Computed Summary, 2. GSTR-1 Summary, 3. GSTR-3B Summary) to download details from the normal taxpayers page (GSTR-9).
2. Provide the necessary details and the system will auto-fill data based on GSTR-1, and GSTR-3B information.

• The cells will be highlighted if there is any difference +/- 20%.

1. You will receive a confirmation message for further processing.
2. Click on ‘Yes’ to accept the details.
3. Open GSTR-9 dashboard to provide all the required data. Save the data.
4. For a preview click on ‘preview GSTR-9 (PDF)’ on the GSTR-9 dashboard.
5. For the computation of liabilities and late fees click on ’Compute Liabilities’.
6. You can pay from the electronic cash ledger. Additional payment can be done via net banking, NEFT/RTGS, or over the counter by creating an additional payment challan.
7. Select the declaration box.
8. Click on ‘Authorized Signatory’.
9. A new page will be open with options for either a File with ‘DSC’ (Digital Signature Certificate) or a File with ‘EVC’(Electronic Verification Code)

• For File with ‘DSC’ select the digital signature certificate, then sign and submit.
• For File with ‘EVC’ you will receive an OTP on your registered E-mail ID and mobile number. Submit the OTP to file the GSTR-9.

Conclusion

GSTR-9 filling is an important annual custom for registered businesses and individuals in India with an annual turnover of 2 Cr or more. Involving summary details of outward and inward supplies completed on that particular fiscal year. Every business needed to match their GSTR-3C, GSTR-1 with GSTR-2A, and GSTR-2B to ensure accuracy while maintaining proper records. It helps businesses to ease the filing process and improve financial management.

Make sure you have completed all the necessary steps with complete accuracy to file GSTR-9 return. File GSTR-9 return within the specified deadlines to avoid any kind of late fee and compliance issues with this Guide to file GSTR-9.To file your GSTR return affordably, headache free and, for more details about GST filing, Contact Online Legal India. It is an ISO 9001:2015 certified company. Contact them today.