GST GSTR-9 Annual Return Detailed Analysis –

1. What is GSTR-9?*

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGSTand IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.

2.Who should file GSTR-9 ?

All the registered taxable persons under GST must file GSTR 9. However, following persons are not required to file GSTR 9
    Casual Taxable Person
    Input service distributors
    Non-resident taxable persons

    Persons paying TDS under section 51 of GST Act.

3. What are different types of return under GSTR-9 ?

There are 4 types of return under GSTR 9 :
        GSTR 9  : GSTR 9 should be filed by the regular taxpayers filing GSTR 1, GSTR 2, GSTR 3.
        GSTR 9A – GSTR 9A should be filed by the persons registered under composition scheme under GST.
        GSTR 9B – GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8 during the financial year.

        GSTR 9C – GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs  2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.

4. When is GSTR-9 due ?

GSTR-9 shall be filed on or before 31st December of the subsequent financial year.

For instance for FY 2017-18, the due date for filing GSTR 9 is 31st December, 2018.

  5. What is the Penalty for the late filing of GSTR-9 return ?

Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, total penalty is Rs 200 per day of default. There is no late fee on IGST.

6. Details to be provided in GSTR-9

GSTR 9  has total of 9 sections.
1. Provide GSTIN:  Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). GSTIN of the taxpayer will be auto-populated at the time of return filing.
2. Legal name of the registered person: Name of the taxpayer will be auto-populated at the time of logging into the common GST Portal.
2 C. Whether liable to Statutory Audit: Statutory audit is compulsory in case of companies and in case of individual/HUF if turnover exceeds Rs 1 crore.
3. Date of statutory Audit:  Mention the date of the statutory audit.
4. Auditors: Mention the name of the auditors of the entity who has audited the accounts of the entity.
5. Details of Expenditure: Details of goods and services purchased during the  financial year must be provided. Such information needs to be provided along with the HSN/ SAC codes applicable and the taxable value of such goods and services. These details are mentioned in GSTR 2. This information is divided into following heads :
a) Total value of purchases on which ITC availed (inter-State)
b) Total value of purchases on which ITC availed (intra-State)
c) Total value of purchases on which ITC availed (Imports)
d) Other Purchases on which no ITC availed
e) Sales Return
f) Other Expenditure (Expenditure other than purchases)
6. Details of income: Details of all supplies and sales made during the year needs to be provided here. Such details are also mentioned in GSTR 1. These categories are as follows :
a) Total value of supplies on which GST paid (inter-State Supplies) : It includes the supplies made in other states on which IGST is paid.
b) Total value of supplies on which GST Paid (intraState Supplies) : It includes supplies within the state on which SGST and CGST is paid.
c) Total value of supplies on which GST Paid (Exports): It includes export of goods and services made during the year on which IGST is paid
d) Total value of supplies on which no GST Paid (Exports) : It includes export of goods and services made during the year on which no IGST is paid
e) Value of Other Supplies on which no GST paid : It includes the details of supply of goods and services made during the year without any GST paid on it. i.e CGST and SGST in case of intra supply and IGST in case of inter state supply.
f) Purchase Returns : Detail of purchase return made during the year is to be provided here.

g) Other Income (Income other than from supplies) : Any other income earned during the year other than supplies mentioned in above points should be mentioned here.

7. Return Reconciliation Statement

After furnishing all the information, the system will auto-reconcile the transactions and will determine tax liability payable against the tax actually paid. The system will also populate the amount of tax difference, interest,  penalty if any.

8. Other

If there is any other payable the same will be auto-populated here. It may include arrears or any liability because of the assessment.

9. Profit as per the Profit and Loss Statement

In this section, mention the breakup of gross-profit, profit after tax and net profit.
Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to authenticate the return.

New return filing procedure will be as under from – 1st October 2018

New return filing procedure will be as under:

1. NIL return filers and composition filers will file quarterly returns

2. New return filing procedure will be implemented from 1st October 2018.

3.Single return will filed for a month

4. B2B transactions will be reported invoice wise and HSN code 4 digit

5.Provisional credit will be allowed for 6 months.

6.Deviation will be communicated to the buyer

7.After 6 months from the implementation of new return no provisional credit.

8. ITC will be autopopulated no manual intervention

9. Right to ITC will be available only on uploaded invoices.

10. First seller will scrutinized by the department . In case they are unable to catch the seller then Buyer will have to pay

GST Billing  

GST Updates – Council 27th Meeting Update dated – 04-May-2018

GST council meet today. It was 27th meeting of GST council. There were two major decisions in GST Council today which were regarding *one monthly return* for all dealers except some dealers and *change in Shareholding Pattern of GSTN Network* . There were two more points discussed like incentive to promote digital payments and cess on sugar. Final Decision on these two shall be taken later.

Summary of today’s discussion is as follows:

1. *One Monthly Return* :

a. For all Taxpayers EXCEPT Composition dealers & dealers having NIL transactions shall file monthly return.

b. Return Filing dates shall be staggered based on turnover of registered person to manage load on IT System.

c. Composition dealers & dealers having NIL transactions shall have facility to file QUATERLY Return.

2. *Unidirectional Flow of Invoices* :

a. Invoices for B2B transaction shall need to use HSN at four digit level or more to achieve uniformity in the reporting systems.

b. Seller can upload invoices anytime during the month.

c. Buyer would also be able to continuously see the uploaded invoices during the month.

3. *Simple Return design and easy IT interface* :

a. The B2B dealers will have to fill invoicewise details of the outward supply made by them.

b. On the basis of invoicewise details, tax liability will be calculated automatically.

c. ITC shall be also calculated by the system on the basis of Invoices uploaded by the seller (as per above mentioned Point-2)

4. *No Automatic reversal of Credit* :

a. There shall not be any automatic reversal of ITC from buyer due to non-payment of tax by the seller.

b. In case of the *default in payment of tax by the seller* , recovery shall be made from seller .

c. However in case of exceptional situations reversal of credit from buyer shall also be the option before authorities. Such exceptional situations could be:

i. Dealer Missing

ii. Closure of Business

iii. Supplier not having adequate assets etc.


a. *Stage-1* : Present filing of GSTR-1 & GSTR-3B shall continue. GSTR-2 & GSTR-3 shall remain suspended.

b. *Stage-2* : The new return will have facility for invoice-wise data upload and also facility for claiming ITC on basis of self-declaration basis, as in case of GSTR-3B now.

c. *Stage-3* : After 6 months of Stage-2, *the facility of provisional credit will be withdrawn* and ITC shall be limited to the invoices uploaded by the seller.

6. *Content of Returns* :

a. Return shall be simplified also by reducing the content/information required to be filed.

b. Law Committee will finalize details of design of return.

7. *Change in Shareholding Pattern of GSTN*

a. Currently Central Government and State Governments holds 24.50% each and remaining 51% are held by Non-Government Institutions.

b. Council has decided to acquire entire 51% equity held by Non-Government Institutions in GSTN equally by the Centre & the State governments.

c. Post acquisitions  GSTN Board shall be allowed to continue the existing staff at existing terms and conditions for the period upto 5 years.

8. *Incentive to promote Digital Transactions*

a. Council has discussed (NOT FINALIZED) in detail the proposal of a concession of 2% in GST Rate on B2B supplies for which payment is made through cheque or digital mode.

b. Where GST Rate is 3% or more, 1% each applicable from CGST & SGST.

c. Maximum celling of incentive is Rs. 100/- per transactions.

9. *Imposition of Sugar Cess over and above 5% GST*

a. Keeping in view of record production of   sugar in the current sugar season and consequent depressed sugar prices, Council discussed the *imposition of sugar cess* .

b. Council has recommended for *setting up of a Group of Ministers from State* to look into the proposal & *make recommendations within two week.*