GST 9 (Annual Return)

•  Who Should File GST-9?
• All regular taxpayers registered under GST, including SEZ units and developers.
• Taxpayers who have canceled their GST registration during the financial year.
• GST-9 is not applicable for:
  • Composition scheme taxpayers (they file GSTR-9A).
  • Casual taxable persons.
  • Non-resident taxable persons.
  • Input service distributors.
  • Persons paying TDS under GST.
• 2. Components of GST-9:
• Part I: Basic details of the taxpayer (auto-populated).
• Part II: Details of outward and inward supplies made during the financial year.
• Part III: Details of ITC availed and reversed.
• Part IV: Details of tax paid during the financial year.
• Part V: Details of transactions for the previous financial year declared in returns filed for the current financial year.
• Part VI: Other information, including details of demands and refunds, HSN-wise summary of goods and services, and late fees paid.
• 3. Filing Process:
• Data Compilation: Gather data from GSTR-1 and GSTR-3B filed during the year.
• Form Filling: The GST portal auto-populates many fields, but taxpayers need to verify and enter additional details.
• Verification: Check for accuracy and consistency with books of accounts.
• Submission: File the return using a digital signature certificate (DSC) or an electronic verification code (EVC).
• 4. Due Date:
• The due date for filing GST-9 is usually 31st December of the following financial year. However, this can be extended by the government.
• 5. Penalties for Late Filing:
• Late fees are ₹200 per day (₹100 CGST + ₹100 SGST), subject to a maximum of 0.25% of the taxpayer's turnover in the relevant state or union territory.
• 6. Key Features and Benefits:
• Comprehensive Reporting: Summarizes all transactions and reconciles with monthly/quarterly returns.
• Error Correction: Allows for rectification of any discrepancies or errors.
• Improved Compliance: Ensures adherence to GST regulations.
• Audit Preparation: Creates a detailed audit trail, facilitating easier audits and assessments.
• 7. Important Considerations:
• Accuracy: Ensure all details are accurate to avoid penalties and scrutiny.
• Reconciliation: Cross-verify the information with financial statements and books of accounts.
• Additional Details: Report any demands, refunds, and HSN-wise summary to provide complete information.
• Detailed Structure of GST-9
• Part I - Basic Details:
• Financial year
• GSTIN
• Legal name and trade name (if any)
• Part II - Details of Outward and Inward Supplies:
• Supplies made to unregistered persons (B2C)
• Supplies made to registered persons (B2B)
• Export on payment of tax
• Export without payment of tax
• Supplies to SEZ units/developers
• Deemed exports
• Advances received/taxes paid
• Inward supplies attracting reverse charge
• Other inward supplies
• Part III - Details of ITC:
• ITC availed on inputs, capital goods, and services
• ITC reversed
• Part IV - Details of Tax Paid:
• Integrated Tax, Central Tax, State/UT Tax, Cess
• Tax payable and tax paid
• Part V - Transactions of Previous FY:
• Details of amendments or omissions reported in current FY for previous FY
• Part VI - Other Information:
• Demands and refunds
• HSN-wise summary of outward and inward supplies
• Late fees paid
• Conclusion
• Filing GST-9 is a critical compliance requirement under the GST regime. It helps in consolidating the data for the entire financial year, ensuring that all transactions have been correctly reported and taxes paid. Accurate filing of GST-9 can prevent legal issues and facilitate smooth business operations by maintaining clear and correct tax records.

• Avoid Penalties: Accurate filing ensures compliance and avoids penalties for discrepancies.
• Financial Health: Reflects the accurate financial health and tax liability of the business.
• Audit: Helps in the smooth conduct of audits and assessments by tax authorities.
• Comprehensive Reporting: Provides a complete summary of transactions made during the financial year.
• Error Rectification: Allows taxpayers to correct any discrepancies or errors made in monthly/quarterly returns.

Documents Required:

1. GST Registration Certificate:

   • Your GSTIN (Goods and Services Tax Identification Number) issued by the GST authorities.

2. GSTR-1 Returns:

   • Monthly/quarterly GSTR-1 returns filed during the financial year.

3. GSTR-3B Returns:

   • Monthly GSTR-3B returns filed during the financial year.

4. GSTR-4 (for Composition Dealers):

   • Annual GSTR-4 return filed, if applicable.

5. Books of Accounts:

   • Sales register.
   • Purchase register.
   • Output tax liability ledger.
   • Input tax credit (ITC) ledger.
   • Cash ledger.

6. Financial Statements:

   • Audited financial statements including balance sheet, profit and loss account, and other relevant financial documents for the financial year.

7. Reconciliation Statements:

   • Reconciliation statement between audited financial statements and annual return (GSTR-9C) for taxpayers with an annual turnover exceeding ₹2 crores.

8. Input Tax Credit Documents:

   • Invoices and other documents for availing input tax credit.

9. Details of Refunds and Demands:

   • Documents related to refunds claimed and demands raised during the financial year.

10. Other Supporting Documents:

    • Any other documents that substantiate the details provided in the annual return.

Details Required:

1. Basic Details:

   • Financial year.
   • GSTIN.
   • Legal name and trade name (if any).

2. Turnover Details:

   • Aggregate turnover including exports and exempt supplies.
   • Taxable turnover.

3. Tax Paid Details:

   • Details of tax paid as per the GSTR-3B filed for the financial year.
   • Breakup of CGST, SGST, IGST, and cess.

4. Input Tax Credit (ITC):

   • Details of ITC availed and reversed during the financial year.
   • ITC on inward supplies (inputs, capital goods, and services).
   • ITC on imports.

5. Details of Outward Supplies:

   • Taxable outward supplies.
   • Exempt, nil-rated, and non-GST outward supplies.