Form GSTR-9 is an annual return that registered taxpayers who have been regular taxpayers, such as SEZ units and SEZ developers, can file once a year. Taxpayers must describe their purchases, sales, claimed input tax credit, refund, demand and other things, on this return.
Based on the form to be filed, GST annual return filing can be classified into three types:
Businesses with a Turnover of more than 2 crores must file a GST annual return in the form of GSTR-9.
The aim of Form GSTR-9C is to file a taxpayer's reconciliation statement for a given fiscal year. This document serves as a notification of reconciliation between the statistics in the taxpayers' audited financial statements and the figures in their GSTR-9 annual returns. Self-certification of GSTR-9C by taxpayers with a turnover of less than or equal to Rs.5 crore.
Form GSTR 9C is used to file a taxpayer's reconciliation statement for a specific fiscal year. The form is a declaration of reconciliation between the statistics in the taxpayer's Audited Financial Statements and the Annual Returns in GSTR-9.
GSTR 9C is for taxpayers who are required to have their accounts audited for GST every year.
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|Name of the Act||Late fees for every day of delay|
|CGST||Rs 100 Per day|
|SGST||Rs 100 Per day|
|TOTAL||Rs 200 Per day|
The statute establishes a maximum late fee of 0.25 percent of the financial year's turnover.
GST necessitates the submission of a return. Even if there is no transaction, you must file a Nil return.
If you file your GST return late, you will be charged a late fee. Furthermore, if you pay your taxes late, you will be charged interest and late fee.
Yes, the yearly return must be filed even if the taxpayer's registration was cancelled during the fiscal year.
Taxpayers who opted out of the composition scheme must file GSTR-9.