The GSTR 9 is documentation submitted once per year by a taxpayer having GST Registration. This record will include all resources in the form and received underneath the several headings of tax (CGST, SGST, and IGST) throughout the whole year, including sales and audit information. In this article, we’ll learn about GSTR 9 Return Filing.
The government has been implementing a GSTR 9C audit, that taxpayers who have more than Rs.2 crore turnover must submit each year. The yearly GSTR 9 Return Filing is essentially reconciled to the annual financial reports reviewed by the taxpayer.
Types of GSTR 9 Return Filing
Organizations must submit the appropriate yearly GST Return Filing form based on their GST registration category and annual revenue.
Ordinary taxpayers submitting GSTR-1 and GSTR-3B should be submitted.
The individuals enrolled under the GST composition scheme must be submitted.
The annual revenue of taxpayers with INR 2 crores in excess during the financial year is to be submitted. All these taxpayers must additionally have their financial statements audited and submit copies of audited yearly financial statements, balancing tax returns previously paid and tax payable information following audited accounts.
Who is eligible to file the GSTR9 form?
- With a 15-digit PAN-based, GSTIN users must be registered taxpayers under GST (Goods & Service Tax).
- The company must generate over 20 lakh rupees in revenue.
- This return applies to all GST registration taxpayers other than those with a Unique Identifying Number (UIN) and taxpayers who do not live in the country.
For the complete year, users must record the specifics of all the transactions at the invoice level. This covers intra-state and inter-state transactions, business-to-business and business-to-consumer money transfers, transactions involving exempted commodities, non-GST suppliers, and stock transfers between business sites in various states.
How to File GSTR- 9?
The GSTR 9 format captures a wide range of data on the taxpayer’s inbound and outbound supply, as well as ITC, tax paid, and other elements that affect tax liabilities during the year.
Part 1: Basic information
For the essential facts, check Part One of the GSTR 9 format: financial year, GSTIN, official title, and trade name (if any).
Part 2: External and internal supply specifics reported in the financial period
In the second component of the GSTR9 format, the details of various kinds of transactions are divided into two segments.
In Section 4, users must enter the specifics of any advances, purchases, or sales supplies that are subject to tax.
For the preceding, provide the taxable value, CGST, SGST, IGST, and cess value:
- Provisions granted to unregistered individuals (B2C).
- Provisions provided to registered individuals (B2B).
- Taxed on zero-rated commodities that have already been transported.
- Tax-free delivery to Special Economic Zones.
- Imports that are considered to be exported.
- Deposits received tax but not provided an invoice.
- Buying goods subject to reverse charge tax.
- The transactions referred to in lines A to G shown are subtotal.
- Any loan reports are granted because of the above-specified activities.
- All debit reports are generated for the above-mentioned activities.
- Submissions or taxes are declared by any amendment.
- Supplies or taxes decreased by any modifications.
- The transaction subtotal referred to in the foregoing lines I to L.
- Provision and advance charges from lines H and M, above. Tax liability
Section 5 requires information on sales provisions for which tax is not to be paid, as indicated in the GST return filing throughout the fiscal year.
As in the preceding part, information about the taxable value, central and state taxes, comprehensive taxation, and cessation value has to be completed here:
- Negligible commodities exported without payment of tax.
- Subject to tax-free supply for SEZs.
- Provision for which the receiver is to pay reverse fee tax.
- Sales supplies excluded.
- Sales supplies have nil ratings.
- Operation of Non-GST.
- The transaction subtotal is referred to in lines A through F above.
- All loan notices were received for the above-mentioned activities.
- Whatever debit notes are generated for the aforesaid transactions.
- Supply declared all modifications.
- Supplies were lowered by all modifications.
- The transaction subtotal is referred to on lines H-K above.
- The sales are free from taxes on the aforementioned lines G and L.
- Net revenue, including all advance payments (4N + 5M – 4G over).
Part 3: ITC information in fiscal year reports
The third section of the GSTR-9 is divided into three inquiries concerning ITC stability.
Section 6 requires users to input the ITC information they have used as stated in the reports submitted during the fiscal year.
Complete central and state tax, integrated tax, and the following value cessation:
- The entire ITC value is used by GSTR-3B.
- The purchase of supplies for inputs, capital goods, and input services.
- The provision of purchases obtained from unregistered individuals on reverse chargeable inputs, capital goods, and input services, subject to tax payment and ITC, save for those referred to herein C.
- Purchasing commodities obtained oppositely, that is taxed and used by persons concerned for inputs, capital equipment, and input services, save those indicated above, for acquisitions of registered persons.
- The import of products for inputs and capital commodities, including supplies from SEZs.
- Services imported, excluding materials purchased from SEZs.
- The ITC was obtained from the ISD.
- The revenue recovered from the ITC under the criteria of the CGST Act.
- The subtotal for lines B to H in the preceding sentence.
- The distinction between lines I and A (I – A).
- Any modifications to the transition credit stated in TRAN-I.
- In TRAN-II, the transition credit is indicated.
- Some other ITC received but not stated in any of the preceding lines.
- The subtotal for lines K to M in the previous paragraph.
- The entire amount of ITC is available for lines I and N.
Under Section 7, users having GST registration are requested to enter the central and state tax, the integrated tax, and cessation value details for the overturned ITC.
Additionally, the unauthorized ITC;
- Following the ITC reversal if the consideration is not paid (Rule 37).
- Following the ISD transfer function for ITC (Rule 39).
- As per ITC concerning reversal of input or input services (Rule 42).
- For capital equipment and revocation, according to ITC (Rule 43).
- Regarding GST restricted loans (Section 17 (5)).
- The credit reversal is referred to in TRAN-I.
- Credit reversal is referred to in TRAN-II.
- Any other requirements that are reversed.
- The ITC in general is mentioned above in lines A to H.
- The ITC net is accessible for use (section 6 line O minus section 7 line I)
Under Section 8, various details relating to ITCs are requested. Complete central and state tax, integrated tax.
And the following value cessation;
- The ITC is in the GSTR-2A format.
- Total ITC sum is referred to in lines 6B and 6H.
- The ITC is entitled to reverse its charges for sales supplies in addition to imports and inward supplies. Incorporate services obtained during 2017-2018 from SEZs but used between April and September 2018.
- The discrepancy between both lines A and B, as well as line C. [A – (B + C)]
- The ITC from line D is available but has not been used.
- The ITC from line D above is accessible but ineligible.
- The IGST payments, including supply from SEZs, for imports of commodities.
- As noted in line 6E previously, the IGST credit is being used for importing goods.
- I.The distinction between lines G and H. (G – H)
- The ITC is available for goods importation, although it is rarely utilized.
- The entire ITC amount for the existing fiscal year has expired or is no longer valid.
Finally, users having GST registration need to sign and validate the return by either a DSC or by utilizing an Adhar-based signature verification process before they submit the GSTR-9 return.
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