Annual Return In GST Act 2017 | All about GSTR-9 | Annual Return Under GST | GST Annual Return Format in excel | GST annual Return Due Date
Every registered person including those registered under composition levy scheme shall furnish an annual return or GSTR-9 once in a year.
The due date of filing GSTR-9 is on or before 31st December of the subsequent financial year. This means for FY 2017-18, the due date for filing GSTR 9 is 31st December, 2018.
Annual Return under GST consists of details regarding the supplies made and received during the year under different tax heads Central Tax, State Tax or Integrated Tax. Basically it consolidates the information furnished in the monthly/quarterly returns during the year.

Following persons are not required to file Annual Return under GST

• Casual Taxable Person
• Input service distributors
• Non-resident taxable persons
• Persons paying TDS under section 51 of GST Act.

Types  of Annual return under GST :

1. GSTR 9 to be filed by the regular taxpayers who are filing GSTR 1, GSTR 2 & GSTR 3.
2. GSTR 9A to be filed by the persons registered under composition scheme under GST.
3. GSTR 9B to be filed by the e-commerce operators who have filed GSTR 8 during the financial year.
4. GSTR 9C is a specific return for the taxpayers whose annual turnover is more than Rs  2 crores during the financial year.
5. All such taxpayers who are also required to get their accounts audited shall file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.

Late filing fees of GSTR-9 is Rs 100 under CGST & Rs 100 under SGST Act. This means total penalty is Rs 200 per day shall be applicable for each day of default.
Details to be given in Annual Return In GST Act 2017 | GSTR-9
GSTIN and Name of the Taxable Person. This information will be auto-populated on logging.
Whether Taxable Person is liable to Statutory Audit or not. If Statutory Audit is applicable than what is date of statutory Audit and name of Auditors.
Details of expenditure:
Basically you need to provide details of goods and services purchased during the  financial year along with the HSN/ SAC codes applicable and the taxable value of such goods and services. These details are once which are mentioned in GSTR 2. This information is divided into following heads in the Annual return form :
(a) Total value of inter-state purchases on which ITC is availed

b) Total value of intra-State purchases on which ITC is availed

C) Total value of imports on which ITC is availed

D) Other Purchases on which no ITC is availed

(e) Sales Returns

(f) Other Expenditure (Expenditure other than purchases)

Annual Return In GST Act |Annual Return Under GST | All about GSTR-9

Details of Income
Basically you need to provide details of goods and services supplied during the  financial year along with the HSN/ SAC codes applicable and the taxable value of such goods and services. These details are once which are mentioned in GSTR 1. This information is divided into following heads in the Annual return form :
a) Total value of inter state supplies on which GST is paid
b) Total value of intra state supplies on which GST is Paid
c) Total value of Exports on which GST is Paid
d) Total value of Exports on which no GST is Paid
e) Value of Other Supplies on which no GST is paid
f) Purchase Returns
g) Other Income (Income other than from supplies)


Return reconciliation Statement
After furnishing all the information, the system will auto-reconcile the transactions and will determine tax liability payable against the tax actually paid. The system will also populate the amount of tax difference, interest,  penalty if any.
This return reconciliation system is just like what is prescribed in monthly GSTR-3

Then assessee needs to provide other details of Arrears , Audit, Assessment , Refunds etc. also.

Assessee needs to provide profit as per the Profit and Loss Statement

• Gross Profit
• Profit after Tax
• Net Profit

Stakeholders may take a note that there may be possibility that government is trying to scrutinize high variation in profit and turnover through this mechanism.
At the end return will be filed with EVC or DSC of the Authorised person.
 
 
 
Late Filing of GSTR-9
There is a penalty of Rs. 100 per day subject to maximum of 0.25% of turnover in the State or Union territory. [Section 47(2) of CGST Act 2017]
For Example Mr A did not file his annual return on on before the due date.
He has registration in State of Delhi & Mumbai , with turnover of Rs. 25L & Rs. 50L in each state respectively.
Here .25% of (Rs. 25L + Rs. 50L) = Rs. 18750
Now in case of delay of 100 days, the penalty shall be Rs 100 * 100 days =10,000
Now in case of delay of 200 days, the penalty shall be Rs 100 * 200 days =20,000 restricted to Rs. 18,750.
Click here to download the format of GSTR-9

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