GST Annual Return Filing

At Mytaxwala, we streamline the GSTR-9 filing process to ensure accuracy, compliance, and timely submission. GSTR-9 is an annual return required to be filed by all taxpayers registered under the Goods and Services Tax (GST) regime. It includes a comprehensive summary of outward and inward supplies, taxes paid, input tax credits claimed, and other relevant details pertaining to a specific financial year.

What is GSTR 9?

GSTR-9 is a consolidated annual return that summarizes a taxpayer’s monthly or quarterly GST returns (GSTR-1, GSTR-3B). It includes details of purchases, sales, input tax credits, and tax liabilities under CGST, SGST, and IGST. While businesses with turnover up to Rs. 2 crore can opt out of filing, it is mandatory for those exceeding this threshold.

Applicability and Exclusions

The following taxpayers are required to file GSTR-9:

·         - Regular taxpayers

·         - SEZ units and developers

·         - Taxpayers who migrated from the composition scheme

Excluded from GSTR-9 filing:

·         - Composition taxpayers (file GSTR-9A)

·         - Casual and non-resident taxpayers

·         - Input Service Distributors and OIDAR service providers

Types of GST Annual Returns

GSTR-9: For regular taxpayers with turnover exceeding ₹2 crores.

GSTR-9A: For taxpayers under the composition scheme.

GSTR-9C: A reconciliation statement between GSTR-9 and audited financials. Required if turnover exceeds ₹5 crores.

GSTR-9 Format Structure

The GSTR-9 return is divided into six parts covering registration details, outward supplies, input tax credit, tax paid, previous FY transactions, and miscellaneous details.

Documents Required

·         - GSTR-1, GSTR-2A, GSTR-3B returns

·         - Annual financial statements

·         - GSTR-9C (if applicable)

How to File GSTR-9

1. Login to GST portal
2. Select the appropriate financial year
3. Choose whether to file Nil return
4. Fill in required details from GSTR-1 and GSTR-3B
5. Save the data
6. Preview the draft return
7. Compute liabilities and pay any late fee
8. Submit using DSC or EVC

Penalty for Late Filing

A late fee of ₹200 per day (₹100 CGST + ₹100 SGST) is applicable for delays. The maximum penalty is capped at 0.25% of the taxpayer’s turnover.

Why Choose Mytaxwala?

Mytaxwala offers expert support throughout your GSTR-9 filing process. Our services include:

·         - Step-by-step guidance

·         - Data verification and reconciliation

·         - Timely reminders

·         - Hassle-free submission

Contact us today to ensure stress free and timely GSTR 9 filing.