PSD FILINGS

What is GST Annual Return Filing?

It is an annual submission summarizing a taxpayer's supplies, including details on turnover, under various tax categories. It ensures compliance with GST regulations.

GSTR 9 Overview : Annual tax return detailing produced and received supplies
Filing Requirement : Registered taxpayers submit GSTR 9 annually
Information Included : Supplies made and received categorized under CGST, SGST, and IGST .Turnover and audit details
GSTR 9C Audit Form : Mandatory for taxpayers with turnover exceeding Rs 2 crore . Reconciliation statement between audited financial statements and GSTR 9 returns

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When to return file GST9?

As per the 37th GST Council Meeting, the filing deadline for GSTR-9 for the fiscal year 2018-2019 is November 30, 2019. Subsequently, the return must be submitted by December 31 of the following year, providing a window for completion, such as December 31, 2020, for the GSTR-9 of the year 2019.

Within the GST framework, there are four distinct types of annual returns, each catering to different categories of taxpayers:

GSTR 9 :
Taxpayers regularly filing GSTR-1 and GSTR-3B must also complete GSTR-9, an annual return summarizing their supplies and ensuring compliance with GST regulations

GSTR 9A :
GSTR 9A filing is mandatory for dealers under the Composition Scheme, ensuring compliance with GST regulations for composite dealers operating in India

GSTR 9B :
E-commerce companies that collect TDS, while submitting GSTR 8, are required to file GSTR 9B, providing details of their annual financial transactions and tax obligations

GSTR 9C :
Compulsory for taxpayers with annual turnover above Rs 2 crores, this audit form aligns with annual financial statement audits, ensuring regulatory compliance

Annual Return Filing instructions For GSTR-9

For accurate GSTR-9 filing, reconcile monthly/quarterly returns (e.g., GSTR-1, GSTR-3B) with financial records, rectify discrepancies, and update tables reflecting supplies, tax credits, and liabilities. Furnish the reconciliation statement and adhere to timely compliance for GST regulation adherence. Stay informed about filing procedure updates.

Part 1 :

GSTR 9 Part comprises extensive details on a taxpayer's input and output supplies, Input Tax Credit (ITC), tax payments, and factors influencing the annual tax liability. Divided into six parts for specificity.

Part 2 :

GSTR 9 Section 4 records taxed supplies, capturing details on advances, purchases, and sales subject to tax. Section 5 covers tax-exempt sales supplies from returns.

Part 3 :

GSTR-9 Section 6: Report claimed ITC from filed returns. Section 7: Detail reversed and ineligible ITC. Section 8: Furnish additional ITC details, including taxes and cess values.

Part 4 :

Enter exhaustive details of taxes paid, reported in returns filed during the fiscal year, including all facts about the declared and paid taxes for the financial year.

Private Limited Company Registration Process

Get Your Business Incorporated. List below are the documents required for incorporation.

STEP : 1

Apply for a DSC : A (DSC) is the digitalized signature of shareholders/directors, encrypted into a USB token for secure transactions. Without DSC, filing forms with the (ROC) and the MCA is not possible.

STEP : 2

Director Identification Number : Acquiring the Director Identification Number (DIN) enables the submission of application forms to the Registrar of Companies (ROC) after obtaining the Digital Signature Certificate (DSC).

STEP : 3

Name Availability Checking : During the name availability check, it is vital to ensure the company name stands out, avoiding any similarities with existing companies or trademarks.

STEP : 4

Documentation : Various documents, including the Memorandum of Association (MOA) and Articles of Association (AOA), are required for incorporation. Verification by a Chartered Accountant is mandatory.

STEP : 4

Issue of Certificate : Upon approval, an incorporation certificate is issued, specifying the allotted PAN & TAN, and a Corporate Identity Number (CIN) is assigned as per Ministry of Corporate Affairs records.