Summary of GSTR-9 Annual Return

1. What is GSTR-9? GSTR-9 is an annual return filed by GST-registered taxpayers, detailing outward and inward supplies during the financial year under CGST, SGST, IGST, and HSN codes. It consolidates monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) for reconciliation and transparent disclosures.

2. Applicability: GSTR-9 must be filed by all GST-registered taxpayers except:

• Composition taxpayers (they file GSTR-9A)
• Casual taxable persons
• Input service distributors
• Non-resident taxable persons
• Persons paying TDS under section 51 or collecting TCS under section 52

3. Turnover Threshold:

• Optional for businesses with turnover up to Rs. 2 crore from FY 2017-18 to FY 2023-24.
• Threshold turnover for mandatory filing is notified annually by the GST department.

4. Due Date: The due date for GSTR-9 filing is 31st December following the relevant financial year (e.g., FY 2023-24 return is due by 31st December 2024).

5. Filing Details:

• Annual sales bifurcated between taxable and non-taxable transactions.
• Annual inward supplies and ITC availed, classified as inputs, input services, and capital goods.
• Reversal of ineligible ITC and related penalties.

6. Late Fee and Penalty: From FY 2022-23 onwards, the late fee structure depends on turnover:

• Up to Rs. 5 crore: Rs. 50/day, capped at 0.04% of turnover.
• Rs. 5-20 crore: Rs. 100/day, capped at 0.04% of turnover.
• Above Rs. 20 crore: Rs. 200/day, capped at 0.50% of turnover.