GSTR-9 Annual Filing
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GSTR-9 Annual Filing
The GSTR-9 annual return: what is it?
Taxpayers who are registered under GST are required to file the GSTR 9 return each year. Noteworthy points:
Along with the cess and HSN codes, it includes information about the outgoing and inward supplies made or received during the relevant fiscal year under the various tax heads, such as CGST, SGST, and IGST.
All of the monthly and quarterly returns (GSTR-1, GSTR-2A, GSTR-2B, and GSTR-3B) that were submitted during that year are combined into it. Despite its complexity, this return aids in thorough data reconciliation for disclosures that are 100% transparent.
Every taxpayer with a GST registration is required to submit their GSTR 9. However, in order to file GSTR 9, the following is NOT necessary:
Taxpayers who choose the composition scheme are required to file GSTR-9A.
Distributors of input services who are casually taxable
Taxable individuals who are not residents
Individuals who pay TDS in accordance with Section 51 of the CGST Act and those who collect TDS in accordance with Section 52
The provisions relating to the yearly return forms under the GST statute are covered under CGST Rule 80. There are four categories of GST annual returns:
1. GSTR 9: Regular GST taxpayers who submit GSTR 1 and GSTR 3B are required to file this return, particularly if their turnover during the fiscal year exceeds the Rs. 2 crore GST annual return threshold.
2. GSTR 9A: Composition taxable individuals were required to submit this yearly return through FY 2018–19. But starting in FY 2019–20, it is replaced by the GSTR-4 annual return, which is due on April 30 of each fiscal year.
3.GSTR 9B: Under the GST statute, e-commerce businesses that collect tax at source (TCS) and file GSTR 8 monthly are required to file this annual return. Nevertheless, this yearly return's filing has been postponed.
4. All taxpayers whose total revenue exceeds Rs. 5 crores in a fiscal year are required to self-certify and file the GSTR 9C, or Annual Reconciliation Statement, audit form.
For companies with a turnover of up to Rs. 2 crore, GSTR-9 (Annual Return) is optional starting in FY 17–18 and continuing through FY 2023–2024. The GST administration announces the threshold turnover level each year, above which filing GSTR-9 is required.
The deadline for GSTR 9 for FY 2024–2025 is December 31, 2025. The deadline for filing a GST annual return, also known as a GSTR-9, is December 31 of the following year for a certain fiscal year.
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The steps for filing GSTR 9
The following is a summary of the GSTR 9 filing steps:
GSTR-9 format and GSTR-9 contents
The GSTR-9 form is broken up Each section requests information that can be readily found in your books of accounts and previously filed returns.
1. In general, GSTR-9 mandates yearly sales, separating them between situations that were taxed and those that weren't.
2. The yearly value of inbound supplies and the ITC received on them must be disclosed on the buy side.
3. These purchases must also be categorized as capital items, inputs, and input services.
4. Entering the ITC details that must be reversed because of ineligibility is required.
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Late fee and penalty for not filing GSTR-9
In order to charge late fees for late GSTR-9 filing, the department categorized taxpayers according to turnover. Additionally, it stated that starting in FY 2022–2023, the following late fee will apply:
Additionally, according to the Act, the late fine for failing to file the GSTR 9 by the deadline was Rs. 100 per day for fiscal years up to 2021–2022. This indicates that in the event of a delay, late fines of Rs. 100 under CGST and Rs. 100 under SGST were applied. As a result, the entire obligation was Rs. 200 for each default day.
According to the Act, this cannot exceed 0.25% of the taxpayer's turnover in the applicable state or union territory. IGST does not yet have a late fee, nevertheless.
GSTR-9 GST amnesty program in 2023
The CBIC said in 07/2023, dated March 31, 2023, that late costs exceeding Rs. 20,000 (i.e., Rs. 10,000 each under the CGST and SGST Acts) would not be charged for GSTR-9 filings that were delayed from 2017–18 to 2021–22 if they were filed between April 1, 2023, and June 30, 2023.
Frequently Asked Questions (FAQs)
Yes, all GST-registered taxpayers who make more than Rs. 2 crore a year are required to file GSTR-9.
Yes, GSTR-9 must be filed annually by all GST-registered taxpayers with yearly turnovers above Rs. 2 crore. For the other taxpayers, it is voluntary.
No, in order to reduce the burden of compliance, the department made GSTR-9 optional for companies with less than Rs. 2 crore.
No, you are unable to make changes after filing GSTR-9.
Yes, even if you were enrolled as a taxpayer for just one day, you still had to file the annual return. Therefore, even if your registration has been canceled, you still need to file the GSTR-9.
It is necessary to file a GSTR-9 return for each registration at the GSTIN level. Assume that a taxpayer, whether in the same state or in other states, has secured multiple GST registrations under the same PAN. If that is the case, they must submit a separate annual return for each registration. Whether the GSTIN has been registered as a regular taxpayer for a period of time or for the entire fiscal year, they need still file GSTR-9.
Yes, before filing GSTR-9, you need to reconcile the input tax credit recorded in your books of accounts with the data from GSTR-2A.
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