What is GSTR-9? Is filing GSTR-9 mandatory?

GSTR-9 provides a consolidated summary of all the monthly/quarterly GST returns filed during the financial year

GSTR-9 is an annual return form that taxpayers registered under the Goods and Services Tax (GST) in India are required to file. It provides a consolidated summary of all the monthly/quarterly GST returns filed during the financial year. The due date for filing this return is December 31 in the succeeding financial year, i.e. for the return of FY 2023-24, the due date is December 31, 2024.

 

What details does this form include?

 

- Inward and outward supplies made during the year under various tax heads (CGST, SGST, IGST, and Cess).

 

- Input tax credits (ITC) claimed and reversed.

 

- Tax paid under different tax heads.

 

- Any adjustments or demands made during the year.

 

Is filing GSTR-9 mandatory?

 

Amit Bansal, Partner, Singhania & Co. explains filing GSTR-9 is mandatory for most taxpayers registered under GST. However, there are some exemptions.

 

The following categories of taxpayers are exempt from filing GSTR-9:

 

- Composition dealers: They need to file GSTR-9A instead.

 

- Casual taxable persons: They are registered for a short duration and are exempt from annual returns.

 

- Non-resident taxable persons: They are required to file GSTR-5 instead.

 

- Input Service Distributors (ISD): They need to file monthly returns (GSTR-6) and are exempt from GSTR-9.

 

- Taxpayers registered under TDS/TCS provisions: They file GSTR-7 and GSTR-8 instead.

 

- Persons with a turnover below Rs 2 crore: For these taxpayers, filing GSTR-9 has been made optional for certain financial years, as per government notifications. For FY 2023-24, taxpayers with an annual aggregate turnover of up to Rs 2 crore are exempt from filing GSTR-9. This exemption aims to reduce the compliance burden on small taxpayers.

 

“Taxpayers whose aggregate turnover is more than Rs 2 crore is mandatorily required to file an annual return prior to December 31, 2024. The annual return form that consolidates a taxpayer's monthly or quarterly returns for the entire financial year and includes a summary of outward and inward supplies, ITC claimed and tax paid,” said SR Patnaik, partner (head - taxation) at Cyril Amarchand Mangaldas.