GSTR-9 - Annual return for registered taxpayers
- What is the GSTR-9?
- Dates associated with the GSTR-9.
- Prerequisites of the GSTR-9.
- Contents of the GSTR-9.
What is the GSTR-9?
The Goods and Services Tax Return 9 is a document or statement that has to be filed once a year by a registered taxpayer. This document will contain the details of all supplies made and received under various tax heads (CGST, SGST and IGST) during the entire year along with turnover and audit details for the same.
The government has introduced a GSTR-9C audit form, which is to be filed annually by taxpayers who have a turnover of more than Rs.2 crores. It is basically a reconciliation statement between the annual returns filed in GSTR-9, and the audited annual financial statements of the taxpayer.
Dates associated with the GSTR-9
- The last day for filing this return is before the 31st December of the following year. (E.g.: If you are filing the GSTR-9 for 2018 then, you have to file it before the 31st of December 2019.)
- To file the GSTR-9:
- You must be a registered tax payer under the GST with a 15 digit PAN based GSTIN.
- The aggregate turnover of your business should be greater than 20 lakh rupees.
- This return applies to all registered tax payers under the GST excluding those who have a Unique Identification Number (UIN) and non-resident tax payers.
- You need to capture the details of all your transactions at the invoice level for the entire year. This includes intra-state and inter-state transactions, B2B and B2C transactions, transactions associated with exempted items, non-GST supplies and stock transfers between your business locations that are located across different states.
Contents of the GSTR-9
Let’s take a look at all the different fields inside the GSTR-9:
- GSTIN – Here you have to specify your unique PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN).
- Name of the Taxpayer – This field should contain the name of the registered tax payer for your business.
- (Section 2C) Whether Liable to Statutory Audit – You will be liable for a statutory audit if your turnover is greater than 1 crore rupees during that financial year.
- Date of Statutory Audit - Here, you are required to mention the date of the audit.
- Auditors – If you are eligible for statutory audits, then under this section, please provide the details of the appointed auditor who has audited your records.
- Details of Expenditure - Under the subsections of this section, you are required to provide the complete details of all purchase transactions that were carried out during the year along with the HSN and SAC codes of the goods and services involved. This data has to recorded under the following sub sections:
- Total value of purchases on which ITC availed (inter-State)
- Total value of purchases on which ITC availed (intra-State)
- Total value of purchases on which ITC availed (Imports)
- Details of Income - Here you have to furnish the details of all sales and supplies made by you under the following sub sections: (the data under every sub-section has to be bifurcated into goods and services)
- Total value of supplies on which GST paid (inter-State Supplies)
- Total value of supplies on which GST Paid (intra-State Supplies)
- Total value of supplies on which GST Paid (Exports)
- 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 – Upon providing all the necessary information related to your inward and outward supplies for the year, the GSTN portal will auto-reconcile the transactions and tell you the tax you owe under different tax heads (CGST, SGST and IGST) along with any interests, penalities or liabilities if any.
- Other – If you owe any money to the government, other than tax liabilities, like arrears or any liability as a result of the assessment, then they will be reflected under this section.
- Profit as per the Profit and Loss Statement – Under the section, you are to report a breakup of gross profit, profit after tax and net profit for the tax period.
Last but not the least, before filing the GSTR-9 return, you have to sign and authenticate the return either through a digital signature certificate (DSC) or by using an Aadhar based signature verification mechanism.