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GST ANNUAL RETURN (GSTR 9)

The basic definition of GST

The goods and services tax or popularly called GST is the tax which eliminates all the indirectly levied taxes earlier. It is applicable to all the Indian goods, products and services. This tax is something which makes India fall under one unified market tax. Taxpayers no longer have to pay multiple taxes such as VAT, service tax, customs duty, etc. Since this tax came into effect from 1st July 2017, the GST day is celebrated on the 1st of July every year.  

 

Who should file GSTR-9?

All the taxpayers or taxable people who have registered under GST have to file GSTR 9. But there are some exceptions to this as well, so these people do not have to file GSTR 9 required to file GSTR 9:

Those taxpayers who opt for the composition scheme. They rather have to file GSTR-9A

The Casual Taxable Person

Those people who are the Input service distributors

Non-resident taxable persons

The people who are paying TDS under section 51 of the CGST Act.

 

Consequences of Non-Filing of GSTR 9

The GST annual return has to be filed on or before the due date which has been prescribed. If an individual fails to file an annual return then he has to pay a late fee of Rs. 200 per day. 

 

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FAQ - Frequently asked questions

Can I apply for GST Registration online?

Yes. Taxpayers can apply online for GST registration. You just need to get your business registered in the official GST Portal and upload the scanned copies of all the documents needed.


Is the GST threshold limit the same for all Indian states?

No. In the North-East states of India, the GST threshold limit comes to Rs.20 lakh for all types of businesses. Whereas, in states like Assam, Meghalaya, Nagaland, Mizoram, Tripura and Arunachal Pradesh; the threshold limit is Rs.10 lakhs.


How would the composition scheme work under GST?

Under GST, the composition scheme is applicable to all types of businesses with a turnover up to Rs.50 lakhs. These taxpayers will have to pay a fixed percentage of the business turnover.


Does GST apply to all businesses?

Yes. GST is applicable to all types of businesses. It applies to all the traders, manufacturers and providers. It can also extend to writers, bloggers and dealers.


Do we need different forms for IGST, SGST and CGST?

The same return form can be used for filing SGST, CGST and IGST. It will have different columns for each one of them and it will have to be filled on the basis of inter-state or intra-state supplies.


Can we revise the returns?

It is not possible to revise the GST returns. Changes can be made on the details provided in the next period’s return form amendment section


What happens if the return is not filed within the stipulated time?

In case you delay the filing of the return, you will have to pay Rs.100 per day as a late fee. The maximum late fee charge will be Rs.5000.


After filing of returns, will I be able to pay my taxes?

You cannot pay the taxes after filing the returns. Instead, it should be paid before the return filing. If it is not done so, the return will be considered invalid


After filing of returns, will I be able to pay my taxes?

You cannot pay the taxes after filing the returns. Instead, it should be paid before the return filing. If it is not done so, the return will be considered invalid