"I think something's missing in my life... Like... 2-3 million dollars"           "Great things never came from comfort zones"           "Good, better, best. Never let it rest. Till your good is better and your better is best"           "Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future"           "You cannot save time for future use, but you can invest it for the future you"           "Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left"           "The secret to getting ahead is getting started.................Start using your Savings to Earn Money"           "The best gift, and investment, you can give your child is your time"           "Investing in your child’s education is never a wasted effort"           "Do something today that your future self will thank you for"

GSTR-9A-Annual-Return-for-Composition-Dealers

 

GSTR-9A Annual Return for Composition Dealers

249 views
5
See the related post : Voluntary Registration under GST

Introduction-

The “GSTR-9A” is the annual return to be filed once in a year by taxpayers who have opted for the Composition Scheme under GST.

CBIC has notified the new format for GST Annual Return in Form ‘‘GSTR-9A” (for Composition Dealers). GSTR-9A has to be filed on or before 31st December from the end of relevant financial year. GSTR 9A comprises details of quarterly returns (filed earlier), means contains details from quarterly returns i.e. April to June, July to September, October to December & January to March.

 
For example annual return for the financial year 2017-18 (i.e. GST Act applicable from July, So, July 2017 to March 2018) is to be filed on or before 31st December 2018.
 

A person paying tax under composition (section 10) shall furnish the annual return in FORM GSTR-9A on the basis of information filed under quarterly returns. The following persons are not required to file “GSTR 9-A”.

  • A Casual Taxable Person
  • A non-resident taxable person
  • A Input service distributor
  • A person paying tax under section 51 or section 52 (TDS/ TCS)

Further, it may be noted that Late fee will be payable if annual return is filed after the due date.

 
See the related post : Composition Scheme Under GST
 

Information which are required to be filed under “GSTR 9A” on the basis of earlier filed in quarterly returns during the financial year, these are divided in 5 parts as under-

Part

Details

I

Basic Details-

1. Financial year

2. GSTIN

3A. Legal Name (Auto populated)

3B.Trade Name (Auto-populated)

4. Period of composition scheme.

5. Aggregate Turnover of previous financial year.

II

Details of outward and inward supplies-

6. Details of Outward supplies on which tax is payable.

7. Details of inward supplies on which tax is payable on reverse charge basis (net of debit/credit notes).

8. Details of other inward supplies.

III

Details of tax paid-

9. Such as IGST, CGST, SGST, Cess, Interest, Late Fee, Penalty etc.

IV

10. Supplies / tax (outward) declared through Amendments (+) (net of debit notes).

11. Inward supplies liable to reverse charge declared through Amendments (+) (net of debit notes).

12. Supplies / tax (outward) reduced through Amendments (-) (net of credit notes).

13. Inward supplies liable to reverse charge reduced through Amendments (-) (net of credit notes).

14. Differential tax paid on account of declaration made in 10, 11, 12 & 13 above

V

Other Information-

15. Particulars of Demands and Refunds.

16. Details of credit reversed or availed.

17. Late fee payable and paid.

 

Penalty or late fees for late filing of GSTR 9A-

Late fees for not filing the GSTR 9A within the due date is Rs. 100 per day per act i.e. CGST or SGST/UTGST.

  • 100 per day under CGST
  • 100 per day under SGST/UTGST

Maximum late fees per day cannot exceed 0.25% of the turnover in the state or union territory.

 



Comments


Leave a Reply

Name *
Comments *
   

© 2019 - Understand Your Income