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GST Annual Return

The GST Annual return i.e. GSTR 9 is a return to be filed by the every taxpayer once a year which is summary of all monthly/quarterly returns (GSTR 1, GSTR 2A, GSTR-3B) filed for that year. It consists of details regarding the outward and inward supplies made/received during the relevant year, ITC availed and utilised, Refund claimed under different tax heads i.e. CGST, SGST & IGST.

GST Audit

  • GST is a trust-based taxation regime wherein a taxpayer is required to self-assess his tax liability, pay taxes and file returns. Thus, to ensure whether the taxpayer has correctly self -assessed his tax liability a robust audit mechanism is a must. Various measures are taken by the government for proper implementation of GST and audit is one amongst them.
  • Audit under GST involves examination of records, returns and other documents maintained by a registered person. It ensures correctness of turnover declared, taxes paid, refund claimed, input tax credit availed and compliance with provisions of law. This audit has to be conducted either by CA or CMA.

  • Applicability

    GSTR 9 is to be filed by every registered taxpayer* except Composition Dealer (GSTR-9A is prescribed for them), Casual Taxable Person, Input Service Distributor, Non Resident Taxable Person, taxpayer paying TDS u/s 51.

    *As per decision taken in 37th GST Council Meeting, For FY 17-18 and 18-19, if aggregate turnover of taxpayer is less than 2 Crores, then he need not file GSTR 9. In such cases, it shall be deemed that GSTR 9 has been filed with auto-populated figures, if not filed by taxpayer by due date and hence no late fees shall be levied.


    GST Audit is applicable for every taxpayer whose aggregate turnover during the financial year exceeds Rs 2 Crores*.

    *For FY 18-19, for taxpayer having aggregate turnover upto 5 Crores, requirement of GST audit has been removed.

    These limits for FY 18-19 have been simplified in following manner:

    Aggregate Turnover Up to 2 Crore 2 Crore to 5 crore More than 5 crore

    GSTR-9

    Optional

    Compulsory

    Compulsory

    GSTR-9C

    NA

    Optional

    Compulsory

    GSTR-9A

    For Taxpayers under composition scheme

    GSTR-9B

    For E-commerce operators.

  • Here, “Aggregate Turnover” includes aggregate value of taxable supplies, zero rated supply of goods or services or both, exempt supplies and interstate branch transfers under same PAN. It should be noted that Aggregate turnover excludes inwards supplies on which GST has been paid on RCM basis and it excludes outward GST liability too.
  • It is worthwhile to note that calculation of Aggregate turnover should be done on PAN basis. This simply means that if the aggregate turnover during financial year is more than prescribed limit and taxpayer has multiple branches then every branch is liable for the GST audit whether it individually reached the threshold limit or not.
  • It should be noted that GSTR 9C is an annual audit form. Along with the GSTR 9C audit form, the taxpayer will also have to submit the certified Reconciliation statement. It should be noted that Certification of reconciliation statement can only be done by Practicing Chartered Accountant or Practicing Cost Accountant.

  • When GST Registration is Mandatory?

    The GST registration is mandatory if the “aggregate turnover” during a financial year exceeds the following prescribed limits:
    states If exclusively engaged in supply of Goods If engaged in supply of Services, or goods or services or both
    1. Manipur
    2. Mizoram
    3. Nagaland
    4. Tripura
    10 Lakhs 10 Lakhs
    1. Arunachal Pradesh
    2. Meghalaya
    3. Puducherry
    4. Sikkim
    5. Telangana
    6. Uttarakhand
    20 Lakhs 20 Lakhs
    All other states 40 Lakhs 20 Lakhs
    *The limit of Rs 40 Lakhs is available only if person is exclusively engaged in Supply of goods. A relaxation has been provided that if a person dealing in goods have any interest income on loans or advances, then also he shall be deemed to be engaged exclusively in supply of goods only.

    What is Aggregate Turnover?

    • Aggregate turnover comprises of following :
      1. Taxable Supplies
      2. Exempt Supplies
      3. Export of goods or services or both
      4. Inter-state supplies to persons having same PAN
    • But it excludes CGST, SGST, IGST charged on supplies and inward supplies on which tax is payable under Reverse charge. However outward supplies by a person on which tax is payable by the recipient under RCM are part of aggregate turnover.
    • Further, this aggregate turnover is be calculated on PAN India Basis. If a person is having one branch in Rajasthan and another branch in Kerala, then turnover of both the branches are to be clubbed for calculating aggregate turnover.

    Compulsory Registration in certain cases

    Under GST law, GST registration is mandatory in certain cases irrespective of turnover limit. The situations are as follows:
    1. Person engaged in inter-state supply of goods (not services)
    2. Person who is required to make payment of tax under Reverse Charge
    3. Casual Taxable person making taxable supply
    4. Non-resident Taxable person making taxable supply
    5. Person who make taxable supply of goods or services or both on behalf of another taxable person whether as agent or otherwise
    6. Person who is required to deduct TDS
    7. Electronic Commerce Operator who is required to collect TCS
    8. Person supplying goods (not services ) through Electronic commerce operator who is required to collect TCS
    9. Input Service Distributor
    10. Person supplying Online Information Database Access and Retrieval Services from outside India to un-registered person in India

    When should a person apply for GST registration and what is process?

    • The first two digits represents the state code as per Indian Census 2011. Every state or Union territory has a unique code. For example, 27 stands for Maharashtra and 09 is for Uttar Pradesh.
    1. The first two digits represents the state code as per Indian Census 2011. Every state or Union territory has a unique code. For example, 27 stands for Maharashtra and 09 is
    2. The next ten digits are the PAN number of the taxpayer or business house
    3. The 13th digit indicates the number of registrations in a state for the same PAN. It will be an alpha-numeric digit (first 1-9 and then A-Z)
    4. The 14th digit will be alphabet ‘Z’ by default
    5. The last digit will be a check code to detect errors. It can be an alphabet or a number
    State code list under GST states State code list under GST states

    01

    Jammu & Kashmir

    19

    West Bengal

    02

    Himachal Pradesh

    20

    Jharkhand

    03

    Punjab

    21

    Orissa

    04

    Chandigarh

    22

    Chhattisgarh

    05

    Uttarakhand

    23

    Madhya Pradesh

    06

    Haryana

    24

    Gujarat

    07

    Delhi

    25

    Daman & Diu

    08

    Rajasthan

    26

    Dadra & Nagar Haveli

    09

    Uttar Pradesh

    27

    Maharashtra

    10

    Bihar

    28

    Andhra Pradesh (Old)

    11

    Sikkim

    29

    Karnataka

    12

    Arunachal Pradesh

    30

    Goa

    13

    Nagaland

    31

    Lakshadweep

    14

    Manipur

    32

    Kerala

    15

    Mizoram

    33

    Tamil Nadu

    16

    Tripura

    34

    Puducherry

    17

    Meghalaya

    35

    Andaman & Nicobar Islands

    18

    Assam

    36

    Telengana

       

    37

    Andhra Pradesh (New)

    • For Non-resident Foreign Taxpayers or Non-resident online service provider, the state code is followed by 2 digit year, 3 digit country code and 5 digit serial number per year and another 3 alpha numeric digits . Sample GSTIN for Non-resident Foreign Taxpayers and Non-resident online service provider
    • For UN Bodies, Embassies etc. and other notified persons, the term used is UIN. For the UIN, The state code is followed by two digit year, 3 digit country code and 5 digit serial number and another 3 digit of alpha numeric character. Sample UIN for Embassies, UN