28th March 2019
GST or Goods and services tax have included several different forms of GST returns and annual returns that might be a hassle to file, but are important nonetheless. There has been a recent composition scheme for the GST holders. For them, the annual return is to be filed through the Form GSTR-9. This blog is dedicated towards telling all about GSTR-9 that includes questions like:
What is GSTR-9?
GSTR-9 is the annual return that has to be filed by specific persons who are falling under the composition scheme. This form of return involves 4 types of return forms:
Along with this return, the mentioned taxpayers need to:
Who is required to file GSTR-9?
GSTR-9 should be filed by individual under the composition scheme. However, following types of people are exempted from filing this return:
What is the last date to file GSTR-9?
You file the GSTR-9 by the end of the subsequent financial year. For example, the last financial year was 2018, so the return is to be filed by 31st December 2019.
What if you file GSTR-9 after the due date is passed?
If the due date of filing the GSTR-9 return passes you by and you still haven’t filed it, then under CGST, you have to pay a penalty of INR 100/- per day and under SGST, you have to pay the same penalty per day (of INR 100/-). So all in all, there is an INR 200/- penalty to be paid on a daily basis.
How to file GSTR-9?
In the prescribed form of GSTR-9, you have to input the following information across the given 9 tables:
These points are basically all that you need to know about GSTR-9. However, if you have made a mistake while filing the return, you can opt for a revision. The way to do that is revise the return in the next month’s return.
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