- CBIC extends late fee amnesty scheme to 30th November 2021
- CBIC extends the timeline for filing of the application for revocation of cancellation of registration
- CBIC amends Form GST ASMT-14 via CGST (Seventh Amendment) Rules, 2021
Click here to read the official announcement
- CBIC has exempted GST registered taxpayers with annual aggregate turnover up to Rs. 2 crore in FY 20-21 from filing Form GSTR-9.
- Taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis from FY 2020-21.
- The Due Date to submit GSTR 9 and 9C is 31st December 2021 for the FY 2020-21.
GSTR-9 is an annual return, to be filled by registered dealers, which contains a consolidated summary of all monthly returns, i.e. GSTR-1, 2A, and 3B under CGST, SGST and IGST during the entire year, along with turnover and audit details for the same. Thus, GSTR-9 can be called a compilation return for all the supplies made and received during the year under different tax heads.
The return can be filed at https://www.gst.gov.in/ either online or through an offline tool. However, in order to download the excel-based GSTR-9 offline utility, your system must meet certain requirements, which can be read at https://www.gst.gov.in/download/gstr9 .
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What are the different sub-categories under GSTR-9
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CATEGORY |
APPLICABILITY |
DUE DATE |
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GSTR-9 |
This is an annual return to be filed by all registered dealers except: a. Composition Dealers Note: CBIC has exempted GST-registered taxpayers with annual aggregate turnover up to Rs. 2 crores in FY 20-21 from filing Form GSTR-9. |
31st December of the preceding year |
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GSTR-9A |
This is an annual return to be filed by Composition Dealers and is a consolidation of all quarterly returns filed by the dealer. |
31st December of the preceding year |
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GSTR-9B |
This is an annual return to be filed by e-commerce operators who have filed GSTR-8 during the Financial Year. Herein, a reconciliation form is to be certified by a CA/CMA in case the turnover of the registered dealer is more than 2 crores INR during the year. |
31st December of the preceding year |
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GSTR-9C |
GSTR-9C is an annual return to be filed by all dealers whose turnover for the year exceeds 5 crores INR (the earlier turnover limit for the same was Rs. 2 crores). It is a reconciliation statement between audited financial statements of the year and GSTR-9, with regards to tax already paid and tax payable as per the audited financial statements. |
31st December of the preceding year |
Updated due date to file GSTR-9 and 9C for FY 20-21:
The date for filing GST annual returns of FY 20-21, which was due on 31st March 2021 has been further extended till 31st December 2021.
Who is required to file GSTR-9?
You must meet the following conditions:
1. You must be a registered taxpayer under the GST regime and have a 15-digit PAN-based GSTIN.
2. The aggregate turnover of your business must be more than 20 lakhs INR.
3. You must capture the transactions of the entire year, at an invoice level. This includes:
a. Intra-state and inter-state transactions
b. B2B and B2C transactions
c. Transactions associated with exempted items
d. Non-GST supplies
e. Stock transfers between your business locations that are located across different states
Please note that this return applies to all the registered taxpayers excluding those who have a Unique Identification Number (UIN) and non-resident taxpayers.
What is the late fee, interest, and penalty for not filing GSTR-9?
The late fee for not filing GSTR-9 is 100 INR per day for CGST and 100 INR per day for SGST. This means that the total late fee will be 200 INR per day. There is no late fee under IGST as of now. This is subject to a maximum of 0.5% (0.25% for CGST and 0.25% for SGST) of the taxpayer’s turnover in the relevant state or union territory.
Interest to be paid on the outstanding amount
Interest = 24% p.a. if ITC has been claimed more (Bogus Credit) or output is under-reported
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