financial services

Filing of Annual GST Return

Filing of GST return is of utmost importance for the taxpayers registered under GST. For filing annual GST return a taxpayer is required to file GSTR-9.

 

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What is GSTR-9?

 

GSTR-9 is used to file annual return by the taxpayers who are registered under GST. GSTR-9 contains the particulars of supplies under various heads like, CGST, SGST and IGST. Not just this, it contains all the details that are present in monthly/quarterly GST return filed by a taxpayer.

 

Who can file GSTR-9?

 

All the taxpayers who are registered under GST are required to file GSTR-9, while filing their annual GST Return.

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Who is not required to file GSTR-9?

 

Here is the list of taxpayers who are not required to file GSTR-9: –

·        Input Service Distributors

·        Non-resident taxable individuals

·        Casual Taxable individuals

·        Taxpayers paying taxes under section 51 of GST Act

 

What is the last date to file GSTR-9?

 

A taxpayer is supposed to file GSTR-9 by 31st December of the relevant Financial Year. For Financial Year 2017-18, the last date to file GSTR-9 is 31st December 2018.

 

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Penalty for late filing of GSTR-9?

 

 

Penalty for late filing of GSTR-9 is Rs. 100 per day, as per the GST act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Therefore, the late fee is Rs. 100 under CGST & Rs. 100 under SGST, total penalty is Rs. 200 per day. There is no late fee under IGST.

 

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