GSTR-9 is an annual return required to be filed by registered GST taxpayers, summarising all the transactions made during the financial year.

Who needs to file GSTR-9?

Taxpayers registered under GST with an annual turnover exceeding 2 crores are required to file GSTR-9, except those with a Unique Identification Number (UIN) or non-resident taxpayers.

What information is required in GSTR-9?

GSTR-9 requires details of the taxpayer, outward and inward supplies, ITC claimed, tax paid, and other relevant transactions.

Are there any exemptions from filing GSTR-9?

Yes, taxpayers with an estimated annual turnover not exceeding 2 crore rupees in the financial year 2023-24 are exempt from filing GSTR-9.

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Big News: CBIC Drops GSTR-9 Annual Return Filing For Certain Businesses In FY 2023-24!

Q: What is the purpose of GSTR-9C?

GSTR-9C is an audit form used for accounting reconciliation between the annual tax returns filed under GSTR-9 and the audited financial statements.

Pragya Pathak

Author

Updated: 28-01-2025 at 8:30 AM

Big News: CBIC Drops GSTR-9 Annual Return Filing For Certain Businesses In FY 2023-24!

Filing of GSTR-9 return is more than consolidation of monthly returns filed during a financial year. Businesses need to compile the Goods and Services Tax (GST) data, including the sales register, purchase register, tax returns filed, taxes paid, receivables and refunds.

At the 53rd meeting of the GST Council held in New Delhi on June 22, 2024, it was recommended that taxpayers with an annual turnover of more than two billion rupees in the financial year 2023-24 should be exempted from filing annual tax returns in Form GSTR-9/9A.

What Is The GSTR-9 Form?

GSTR 9 is a document or return required to be filed annually by a registered taxpayer. The document contains details of all supplies received during the year under various tax categories (CGST, SGST and IGST) along with information on the amount of turnover and audits of the same.

The government has announced an audit form called GSTR 9C to be filled out every year by taxpayers with an annual turnover of more than Rs.2 crores. This is essentially an accounting reconciliation between the annual tax returns filed under GSTR 9 and the audited financial statements filed by the taxpayer

Exemption From Filing GSTR9

A recent notification issued by the council says: "In exercise of its powers under section 44 of the Central Goods and Services Tax Act 2017, the council recommends that registered persons with an estimated annual turnover not exceeding two crore rupees in the year 2023-24 need not file annual returns in that year."

Who Should File GSTR9?

To fill in the form GSTR-9:

You must be a taxpayer registered under GST, with a 15-digit PAN based on GSTIN.
The total turnover of your business must be more than 20 lakh rupees.
This declaration applies to all taxpayers registered under GST except those who have a Unique Identification Number (UIN) and non-resident taxpayers.
You must keep a record of your invoice-level transaction information throughout the year.
This includes interstate and intrastate transactions, B2B and B2C transactions, and transactions involving exemptions on goods and non-GST supplies.
The transfer of inventory between your locations in different states.

Details Required To Be Filled In The GSTR-9?

GSTR-9 is divided into six sections and 6 parts. Each section asks for information that you can easily gather from your previous books of accounts and tax returns. Generally, GSTR-9 asks for the annual turnover and divides it into two cases, those which are exempt and those which are not.

The 6 parts include

1.	PART-I	Basic details of the taxpayer. This detail will be auto-populated.
2.	PART-II	Details of Outward and Inward supplies declared during the financial year(FY). This detail must be picked up by consolidating the summary from all GST returns filed in the previous FY.
3.	PART-III	Details of ITC declared in returns filed during the FY. This will be summarised values picked up from all the GST returns filed in the previous FY.
4.	PART-IV	Details of tax paid as declared in returns filed during the FY.
5.	PART-V	Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to the date of filing of annual returns of previous FY whichever is earlier. Usually, the summary of amendment or omission entries belonging to the previous FY but reported in the Current FY would be segregated and declared here.
6.	PART-VI	Read the detailed information below.

Part VI includes information comprising of

GST Demands and Refunds.
HSN-wise summary information of the quantity of goods supplied and received with its corresponding Tax details against each HSN code.
Segregation of inward supplies received from different categories of taxpayers like Composition dealers, deemed supply and goods supplied on an approval basis.
Late fees payable and paid details.

On the other hand, the value of supplies made to the inward market and the ITC used in the process are to be declared. In addition, these purchases have been divided into intermediate consumption, intermediate consumption and capital goods. Information on ITC that must be deleted due to inadmissibility must be recorded.

How Can This Exemption Benefit You?

Complying with tax obligations becomes simpler for small taxpayers and allows them to focus on their core business, rather than dealing with regulations.
Savings can be achieved by reducing the cost of preparing tax returns and related services. At the same time, the GST system will be easier for small businesses to manage without having to file complex annual returns.
This tax exemption is an encouraging move by the government to promote the expansion and sustainability of small businesses by reducing administrative costs.

Conclusion

Although this taxation policy is very good, there is an underlying problem with this. There is a risk that a lack of compliance will lead to tax evasion or underreporting, although the exemptions are generally aimed at facilitating compliance while maintaining discipline in tax collection.

To download the GSTR-9 application form, click here. You can also read the official notification here.

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