GST Audit & Annual Return
GSTR-9 is an annual return to be filed by all registered taxpayers under GST except a handful. It is an annual compilation of outward supplies, inward supplies, tax liability and input tax credit availed during a financial year. It is due to be filed by 31 December of the year following the particular financial year.
There are three types of GSTR-9:
♦ GSTR-9A
♦ GSTR-9B
♦ GSTR-9C
Who is liable to file GSTR-9
It is an annual return to be filed by all registered taxpayers under GST irrespective of the turnover of an entity. The return consists of details such as inward/outward supplies, taxes paid, refund claimed, demand raised and ITC availed by the taxpayer. All registered taxpayers are required except:
► Casual Taxpayers
► Input Service Distributors
► Non-Resident Taxpayers
► Taxpayers deducting / Collecting Tax at source under section 51 or 52
Details Required for filing GSTR-9:
► Total value of supplies on which GST paid (inter-State, intra-state, Export)
► Total value of purchases on which ITC availed (Inter-State, Intra-State & Import)
► Value of Other Supplies on which no GST paid
► Total value of supplies on which no GST Paid (Exports)
► Other Purchases on which no ITC availed
► Sales Returns & Purchase Returns
► Other Expenditure (Expenditure other than purchases)
► Other Income (Income other than from supplies)
► Return Reconciliation Statement
► Arrears (Audit/Assessment etc.)
► Refunds
► Turnover Details
► Profit as Per the Profit and Loss Statemen
► Gross Profit, Profit after Tax & Net Profit
► Details of Statutory Audit