Description

All the registered GST taxpayers are required to file GSTR 9 once a year. In the recent past, the intrastate suppliers and the business and the service sector businesses that have an annual turnover of Rs 20 lakh and goods sector with an annual turnover of Rs. 40 lakh need to file GST annual returns.

If the turnover ranges between Rs.1.5 crore and Rs.5 crore then the maximum late fee of Rs.5,000 per return can only be charged (i.e Rs. 2500 each for CGST and SGST). If the turnover is more than Rs.5 crore then late fee of maximum Rs.10,000 (i.e Rs. 5000 per CGST and SGST) can be charged.

Such tax liability can be paid through electronic cash ledger only. Return . during the year, is also required to file the Respective Annual Return. Composition Scheme is required to file both GSTR 9 & GSTR 9A for the relevant periods.

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note: It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.