The regime to file the Income Tax returns for registered tax-payers is the GSTR – 9. The prime motive of the GSTR-9 annual returns is to include all the business transactions in one place, leave no space for unrecorded transactions. It is the best attempt made by the GST council to simplify the tax return filing process for the tax-payers. The returns under this regime are to be filed once in a year, before the financial year end, on 31st December. Though there has been an exception made in the recent announcement and, the last date for filing of the GST return has been extended several times. All the tax heads namely CGST, SGST and IGST relating to each and every purchase and sales transaction have to be entered in GSTR – 9Best Auditors in Bangalore ,Delhi & chennai.
This form is to be filled in and submitted by each and every periodic or regular tax-payer who has been filling the GSTR 1 and GSTR 3B. Avoid penalty by engaging a team of expers we are Best Auditors in chennai & Best Auditors in Bangalore
The tax-payers who have registered themselves under the composition scheme of GST need to file the GSTR – 9A. It is basically the summary of the previously filed quarterly returns, done by the composition tax-payer. (Proviso to Sub Rule (1) of Rule 80). Avoid penalty by engaging a team of expers we are Best Auditors in Bangalore ,Delhi & chennai
This tax return is basically a reconciliation statement for the tax-payers who have an annual turnover surpassing the base of 2 crores within one financial year. This is the common form for individuals of all the states and the concerned individual filing the returns have to get their accounts audited by any of the Chartered Accountants or even the Cost Accountants and then file a copy of the same audited accounts. There are also two other norms to be sent in with the return, i.e. individuals must file the already paid tax’s reconciliation statement and details containing the future payables.
The due date for filing of this return can vary as per the government, as the government holds the sole power of altering them. The base date for filing a tax return for a year is the end of the subsequent year (31st December). The due date for filing the tax returns for the FY 2017-18 has been extended to 30th June 2019, but the date for filing the Tax returns for the FY 2018-19 remains to be 31st December 2019 as per the present norms. Avoid penalty by engaging a team of expers we are Best Auditors in Bangalore ,Delhi & chennai
Registered tax-payers are required to file tax under this scheme irrespective of NIL transactions or otherwise. If there are NIL transactions as the year ended, then a NIL Annual Return is to be filed, the same is the case if a tax-payer cancels his/her registration for the year, the return has to be filed. But, there are few people who are exempted from the scheme and they are: -
Persons paying tax under section 51 or 52(i.e persons paying TDS)
As mentioned earlier, the taxpayers who have opted for a composition scheme need to file GSTR – 9A in the place of GSTR 9.
Section 47 of the GST Act deals with the Penalties penalties with respect to the delay in filing a tax return under GSTR – 9. The penalty for late filing is to be compensated with a late fee which is applicable on a per day basis. Any failure to file the tax return under this scheme requires the individual to pay INR 200 per day, which is divided under 100 for CGST and 100 for SGST, however, there is no late fee applicable for IGST. The maximum amount up to which an individual can be fined depends upon the calculation as per the quarter percentage of the tax payer’s turnover in the concerned state or union territory. Avoid penalty by engaging a team of expers we are Best Auditors in Bangalore ,Delhi & chennai
Return filing has to be done by proper reconciling 2 A with purchase invoices every month by contacting the vendors everymonth or else this will have a big negative impact in cash flow by end of the year by way of interste and penalty for more details and avail services contact
GST Return Filing in Chennai
GST Return Filing in Bangalore
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