Introduction:
Filing the GSTR-9 annual return is crucial for all GST registered businesses to ensure compliance and transparency in tax reporting. This guide provides detailed insights into GSTR-9, including its due date, applicability, turnover limit, required details, late fees, and penalties. Additionally, it highlights the features of Clear GST software for seamless GSTR-9 filing.
Key Points:
GSTR-9 Overview:
GSTR-9 is an annual return filed by GST registered taxpayers, consolidating monthly/quarterly returns filed during the financial year.
It includes details of outward and inward supplies, taxes paid, demands, and refunds under CGST, SGST, IGST, and HSN codes.
Applicability and Turnover Limit:
All GST registered taxpayers are required to file GSTR-9, except those under composition scheme, casual taxable persons, etc.
The turnover limit for GSTR-9 is not specified, but it was made optional for businesses with turnover up to Rs 2 crore from FY 17-18 onwards.
Due Date and Format:
The due date to file GSTR-9 for a financial year is 31st December of the following year.
GSTR-9 is divided into 6 parts and 19 sections, requiring details of sales, purchases, ITC availed, etc.
Late Fees and Penalties:
Late fees for delayed filing of GSTR-9 vary based on turnover, with penalties ranging from Rs 50 to Rs 200 per day.
An amnesty scheme waiving late fees exceeding Rs 20,000 is available for delayed filings up to 2021-22.
Clear GST Features:
Clear GST software offers one-click download of GSTR-1, 2A, 3B, and 9 data, auto-filling of GSTR-9 tables, and AI-enabled reconciliation tools.
It provides a 19-point checklist for error identification, invoice-level reconciliation, and direct data import into ClearTax for seamless filing.
Filing Process with Clear GST:
Using Clear GST software, businesses can upload GSTR-9 data to GSTN and file it with the advanced ClearTax Assistant, ensuring accuracy and efficiency.
Conclusion:
Filing GSTR-9 is essential for GST compliance, and Clear GST software simplifies the process with its advanced features and seamless integration. By leveraging Clear GST, businesses can ensure error-free GSTR-9 filing and avoid penalties while maintaining transparency in tax reporting.
