Annual Consolidated Return (GSTR-9)
Streamline your GSTR-9 filing process, mandatory for all enterprises but optional for businesses with turnover below Rs 2 crore. Ensure accuracy, compliances, and penalty- free filing.
SaralFiling Service includes:
​
-
Up to 500 invoices for GSTR-9
-
Reconciliation of Transactions.
All Inclusive price of
₹ 1,999/- Only
* Excluding Goods and Services Tax
Introduction:
GSTR-9 is an annual consolidated return filed by registered taxpayers under the Goods and Services Tax (GST) regime. It provides a comprehensive summary of the taxpayer's income and expenditure throughout the financial year. In this guide, we will provide you with a step-by-step understanding of GSTR-9, including its purpose, due date, filing process, and important considerations.
List of Documents Required
To file Goods and Services Tax (GST) returns in India, the following documents and information are typically required:​
-
GST Credentials: GST credentials including all the additional places of business in India.
-
Reconciliation Statement: Reconciliation of turnover and tax paid as per the books of accounts with the figures reported in GST returns, Reconciliation of ITC as per books with ITC claimed in GST returns.
-
Bank Statement
-
Financials Statements.
​
It's essential to maintain accurate records and documentation to ensure compliance with GST regulations and facilitate the smooth filing of Annual return. Businesses should also use accounting software or GST compliance platforms to automate the process and minimize errors in Annual return. Additionally, it's advisable to consult with a tax professional or GST expert to ensure correct reporting and compliance with GST laws.
Purpose of GSTR-9:
GSTR-9 serves as an annual return that consolidates the details of inward and outward supplies, input tax credit availed, tax paid, and other relevant information. Its purpose is to provide a holistic view of the taxpayer’s transactions during the financial year. Here are some key details included in GSTR-9:
​
-
Details of outward supplies made during the financial year, both inter-state and intra-state.
-
Details of inward supplies received from registered and unregistered persons.
-
Input tax credit (ITC) availed and reversed during the financial year.
-
Tax liability under different tax heads (CGST, SGST/UTGST, IGST).
-
Additional tax payable, if any.
-
HSN-wise summary of goods supplied and received
Applicability of GSTR-9:
GSTR-9 is an annual return that is applicable to certain categories of taxpayers under the Goods and Services Tax (GST) regime. It is important to determine whether you are required to file GSTR-9 based on your registration and turnover. Here are the key points regarding the applicability of GSTR-9:
Who should file GSTR-9?
GSTR-9 should be filed by the following categories of taxpayers:
-
Regular taxpayers: All regular taxpayers registered under GST, except composition vendors and Input Service Distributors (ISD), are required to file GSTR-9.
-
Aggregate turnover threshold: GSTR-9 is applicable to taxpayers whose aggregate turnover exceeds the prescribed threshold limit. The threshold limit for filing GSTR-9 is Rs. 2 Crore. If your aggregate turnover is below this threshold, you are not required to file GSTR-9.
Filing Procedure of GSTR-9:
Filing GSTR-9 involves a step-by-step process. Here is a simplified guide to help you file your GSTR-9:
​
-
Log in to the GST portal (www.gst.gov.in) using your credentials.
-
Navigate to the Returns Dashboard and select the GSTR-9 form.
-
Fill in the required details, including turnover, tax liability, and input tax credit for the financial year.
-
Ensure the accuracy of the information provided and validate the return.
-
Submit the return on the portal.
-
Pay any additional tax liability, if applicable.
-
After successful submission, download the acknowledgment receipt for your records.
​
Important Points to Note:
GSTR-9 is an annual return and should be filed for each GSTIN separately, in case the taxpayer has multiple registrations.
​
It is crucial to reconcile and ensure the accuracy of the information provided in GSTR-9 with the taxpayer’s books of accounts and previously filed monthly or quarterly returns (GSTR-1, GSTR-3B).
​
Any additional tax liability identified while filing GSTR-9 should be paid using Form DRC-03 separately, with interest, if applicable.
Conclusion:
Filing GSTR-9 is essential for maintaining compliance with GST regulations and providing a consolidated view of your annual transactions. By understanding the purpose, due date, filing process, and important considerations of GSTR-9, you can ensure timely and accurate filing. It is recommended to reconcile the information provided in GSTR-9 with your books of accounts and seek professional assistance if needed. Stay updated with the latest notifications and guidelines from the GST authorities to comply with any changes related to GSTR-9.