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GSTR9 is a GST annual return form that every registered taxpayer must file across every fiscal year following implementing the GST regime. GSTR 9 forms cover all merged summaries completed by any taxpayer on a monthly or quarterly basis. The summary contains almost all the ITC-stated information, specifically outbound and inbound supply. However, there are several exceptions to the requirement to submit GSTR 9. The list includes:
1. GST Purchase
2. GST Sales
3. GST Inputs Tax Credit(ITC)
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Aside from GSTR 9 forms, various forms with varying qualifying conditions are available. Let us shed some light on the following GST Return forms:
These firm accounts must also be audited by authorised persons, and copies of the audited accounts must be submitted along with the GSTR 9C form.
The final date for filing the GSTR 9 form is 31st December of the following financial year.
Each taxpayer must submit Form GSTR 9 by the required deadline. Failure to do so will subject him to a substantial fine of INR 200 per day. This late fee includes CGST 100 INR per day and SGST 100 INR per day. IGST has no late fees. However, the amount of the fine will not exceed the taxpayer’s quarterly turnover.
Every taxpayer who chose not to register in the composition scheme throughout the fiscal year must file GSTR 9 for the time in which he was a normal taxpayer.
No, the taxpayer cannot make changes to the returns field in GSTR-9 after they have been filed.