Exemption from Filing GSTR-9 if Taxpayers turnover is up to 2 crores in the F.Y 2020-21

Last Updated On: Aug. 2, 2021, 11:47 p.m.
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Exemption from filing GSTR-9 for F.Y 2020-21 for taxpayers having turnover upto 2 crores

 

What is GSTR-9 and who is liable to file?

It is an annual return to be filed by all registered taxpayers under GST irrespective of the turnover of an entity. The return consists of details such as inward/outward supplies, taxes paid, refund claimed, demand raised and ITC availed by the taxpayer. All registered taxpayers are required to file GSTR-9 except :

  • Casual taxpayers
  • Input Service Distributors
  • Non-resident taxpayers
  • Taxpayers deducting/collecting tax at source under Section 51 or Section 52

 

 

What are the details required to be filled in the GSTR-9?

  • GSTR-9 is divided into 6 parts and 19 sections. Each part asks for details that are easily available from your previously filed returns and books of accounts.
  • Broadly, this form asks for disclosure of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax.
  • On the purchase side, the annual value of inward supplies and ITC availed thereon is to be revealed.
  • Furthermore, these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that needs to be reversed due to ineligibility is to be entered.

 

Can NIL GSTR-9 be filed?

Nil Form GSTR-9 can be filed for the Financial year, if you have: –

  • NOT made any outward supply (commonly known as sale); 
  • NOT received any goods/services (commonly known as purchase);
  • NO other liability to report; 
  • NOT claimed any credit; 
  • NOT claimed any refund; 
  • NOT received any order creating demand; 
  • There is no late fee to be paid etc.

 

Pre-conditions for filing of Form GSTR-9 are:

  • Taxpayer must have active GSTIN during the relevant financial year as a normal/regular taxpayer even for a single day.
  • Taxpayer has filed all applicable returns i.e. Form GSTR-1 and Form GSTR-3B of the relevant financial year before filing the Annual Return.

 

Notification No.31/2021- Central Tax on 30th July, 2021 states that

 

BIC has issued notification to exempt the registered persons whose aggregate turnover in the financial year 2020-21 is up to two crore rupees, from filing GST annual return for the financial year 2020-21. The exemption from filing GST Annual Return has been extended for one more financial year.

However, the option to file GST Annual Return shall be available and the taxpayers whose turnover is up to 2 crore rupees still can file the Annual Return in Form GSTR-9 on voluntary basis.

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