Annual Returns simplified within the following manner for the year (“FY”) 2020-21:

Latest Updates on GSTR-9

 

9th March 2021

The Form GSTR-9A has been disabled from FY 2019-20 onward for composition taxpayers because of the introduction of GSTR-4 (Annual return). However, the GSTR-9A is nonobligatory and may be filed for FY 2017-18 and FY 2018-19.

 

28th February 2021

The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been more extended up to thirty first March 2021.

 

30th December 2020

The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been more extended up to 28th February 2021.

 

Latest Updates on GSTR-9C

 

9th March 2021

The Form GSTR-9A has been disable from FY 2019-20 forrader for composition taxpayers thanks to the introduction of GSTR-4 (Annual return). However, the GSTR-9A is nonmandatory and may be filed for FY 2017-18 and FY 2018-19.

 

28th February 2021

The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been further extended up to 31st March 2021.

 

30th December 2020

The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been extended up to 28th February 2021.

 

Legal Provisions & relevance of Annual return under GST

 

As per Section 44(1) of CGST Act 2017, ratable persons are needed to furnish the Annual return for each twelvemonth electronically.

Further, taxable persons whose turnover exceeds Rs. two Crores throughout the twelvemonth, are needed to induce their accounts audited under Section 35(5) of CGST Act 2017, by a chartered accountant or a cost accountant and submit Audited annual financial Statements & a reconciliation statement (reconciling values of supplies declared in return supplied with for twelvemonth with audited annual financial statement) , along with the Annual return.

 

Different types of Annual Returns under GSTR 9 Form

 

As per Rule 80 of CGST Rules 2017, below are the different types of Returns under GSTR 9 Form:

1. GSTR 9 : To be filed by theregular taxpayers filing GSTR 1, GSTR 2, GSTR 3, GSTR 3B during the financial year.
2. GSTR 9A : To be filed by Composition Scheme Taxable persons
3. GSTR 9B : To be filed by Electronic Commerce Operator
4. GSTR 9C : To be filed by Person who are required to get their accounts audited under Sec 35 of CGST Act
5.  

Non Applicability of Annual Return under GST
 

The following taxable persons are not required to file Annual Return under GST:

1. Input Service Distributor
2. Tax Deductor under Section 51
3. Tax Collector under Section 52
4. Casual taxable Person
5. Non-resident Taxable person

 

i. Amendments in Section thirty five and forty four of Central goods and Services Tax Act, 2017 (“CGST Act”) created through Finance Act, 2021 to be notified– this is able to ease the compliance demand in furnishing reconciliation statement in form GSTR-9C, as taxpayers would be ready to self-certify the reconciliation statement, rather than obtaining it certified by chartered accountants. This modification can apply for Annual return for FY 2020-21.

 

ii. The filing of annual return in form GSTR-9 / 9A for FY 2020-21 to be elective for taxpayers having mixture annual turnover upto Rs 2 Crore;

 

iii. The reconciliation statement in type GSTR-9C for the FY 2020-21 are needed to be filed by taxpayers with aggregate annual turnover higher than Rs five crore.