Meaning of GSTR-9 and its process of filing in website.

1. WHAT I WHAT IS GSTR AND AND PROCESS TO FILE IT PROCESS TO FILE IT S GSTR- -9 9 The implementation of Goods and Services Tax (GST) on 1 July 2017 was aimed at revolutionizing the system of taxes etc. in India. Through a tax policy of a nation of GST, the burden of taxes is not reduced on citizens alone but also on business owners. This is because the same tax is now levied on the supply of goods and services (from producer to consumer), making it easier to understand how to pay tax. GST can be easily penetrated online. It is mandatory to mention all the details of business transactions of a particular year while filing returns. One of the most important types of GST returns is gstr9. Let’s see the detailed information about GSTR9 and how can you fill it. What is GSTR-9? GSTR9 is a tax return document that is mandatory to be submitted to every business owner who is registered under GST. This document gives all the details about the business transactions done in the financial year. Following details are mentioned in this: 1.Inward supply of business 2.External supply 3.Tax paid 4.Details of input tax credit 5.Claimed tax refund VINOD K AGRAWAL & ASSOCIATES, CA OFFICIAL SITE: https://cavkagrawal.business.site/ Page 1

2. There are various categories under GSTR 9. Taxpayers have to file returns under GSTR 9, depending on their annual turnover and business type. Different types of GSTR 9 are as follows: 1.GSTR 9- It is filed by every registered taxpayer who is filing GSTR 3B and GSTR 1. 2.GSTR 9A- Registered Taxpayer has to submit this form under GST structure scheme. 3.GSTR 9B- This form is filled by e-commerce business owners who have already filed GSTR 8 for that particular year. They also pay tax at business source 4.GSTR 9C- This form is required for taxpayers whose annual turnover is more than Rs 2 crore. These taxpayers will have to get their financial reports audited. Along with this form, they have to submit audited report, tax payable and a matching statement of tax paid. WHO SHOULD FILE GSTR 9? Taxpayer who is registered under GST with a 15 digit PAN based GSTN Business having aggregate turnover of more than Rs 20 lakh rupees You must take hold of all transaction details at the invoice level for the whole year. This contains intra-state and inter-state transactions, B2B and B2C transactions, transactions associated with exempted items, non-GST supplies and stock transfer between your business locations that are located across different states. This return will not apply to the taxpayers who have a Unique Identification Number (UIN) and non- resident tax payer. VINOD K AGRAWAL & ASSOCIATES, CA OFFICIAL SITE: https://cavkagrawal.business.site/ Page 2

3. HOW TO FILE GSTR9? STEP 1. By using all your details log in to Gst.gov.in and click on the Annual Return in Return dashboard STEP 2. STEP 3. In the File Annual return, select the fiscal year and then click prepare online. Then choose whether you want to file annual return or NIL return. Select YES or NO STEP 4. If you select NO, then proceed to the GSTR-9 Annual Returns page for general taxpayers. STEP 5. Download three files- GSTR 9 system computed summary, GSTR 3B summary and GSTR-1 Summary STEP 6. You need to fill the details under the tables including 4N, 5M, 7l, 6(O), 8A, 9,10,11,12,13,15,16,17, and 18 STEP 7. Tables can be filed using the same steps. First, click on the title, the details presented in GSTR 1 and GSTR 3B will automatically appear. Enter tax values in cells STEP 8. STEP 9. Click yes to save the details Check the draft of GSTR 9 form and check the details. Then click on compute liabilities. STEP 10. If you have no late fees, a confirmation box will be displayed STEP 11. Select the authorized signatory in the box at the bottom of the page STEP 12. Now finally click on File GSTR 9. VINOD K AGRAWAL & ASSOCIATES, CA OFFICIAL SITE: https://cavkagrawal.business.site/ Page 3