GSTR-9A – Overview, Due Dates & Format

What is GSTR-9A?

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 for a particular financial year. It includes all the data provided with within the quarterly returns filed by the composition taxpayers throughout that year.

Who should file GSTR-9A?

All taxpayers registered under the composition levy scheme under GST should file GSTR-9A.

However, the following persons are not required to file this :

1. Non-resident taxable persons
2. Input service distributor
3. Casual Taxable Person
4. Persons paying TDS under section 51 of the Act
5. E-commerce operator paying TCS below section fifty two of the Act

When is GSTR-9A due?

GSTR-9A has to be filed on or before 31st December* following the close of financial year. For example, if the composition taxpayer is filing his annual return for the FY 2017-18, the taxpayer should file it, on or before 31st December 2018.

What is the penalty for the late filing of GSTR-9A?

Under CGST	Under SGST/UTGST	TOTAL
Rs.100 per day of default	Rs.100 per day of default	Rs.200 per day of default

Maximum late fee per day cannot exceed 0.25% of Turnover in the State or Union territory under CGST/SGST/UTGST.

Details to be provided in GSTR-9A?

Sl. No.	Parts of GSTR-9A	Details to be provided
1	Part-I	Basic Details such as GSTIN, Legal Name, Trade Name of the taxpayer that is auto-populated
2	Part-II	Details of outward and inward supplies declared in GSTR-4 filed during the financial year. This input consists of summary from all quarterly returns filed during the FY.
3	Part-III	Details of tax paid as declared in returns filed during the financial year. Tax paid under different heads such as IGST, CGST, SGST, Cess, Interest, Late Fee, Penalty has to be mentioned here.
4	Part-IV	Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to date of filing of annual return whichever is earlier. This section consists of summary of amendments or corrections relating to entries of previous FY. It may be additions or omissions.
5	Part-V	Other Information such as the following given below: Particulars of Demands and Refunds. Here, details of any demands for tax from the tax department, tax paid on the demand raised, any balance to be paid shall be mentioned. Also, details of Refund claimed, refund received out of the claim, pending refund shall be mentioned. Details of credit reversed or availed – If a taxpayer switches from regular to composition scheme or vice versa, ITC shall be reversed or added respectively. Such details pertaining to ITC shall be entered here. Late fee payable and paid – Late fee on account of late payment of tax or late filing of returns shall be mentioned in this section.

How to prepare GSTR-9 & a detailed discussion of form

Important recent amendments to be noted:

• The format for Form GSTR – 9A has been revised vide Notification No. 74/2018 – Central Tax dated 31 December 2018.

• The due date for filing Form GSTR – 9A for FY 2017 – 18 has been further extended to 30 June 2019.

It is vital that true and proper data is disclosed within the annual come back.

The data declared within the annual come back would be the start line of assessment of the remunerator by the Department.The annual return also serves a useful purpose of rectifying mistakes committed at the time of filing GSTR -4.All data disclosed in GSTR – nine should be cross-checked with the books of accounts and therefore the type GSTR – four filed for the amount.

It should be noted that extra liabilities not declared in type GSTR – four are often declared in GSTR – 9A and tax are often paid voluntarily together with interest in Form DRC-03.

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What is GSTR-9 annual return?

GSTR nine is associate annual come to be filed yearly by taxpayers registered under GST. Points to note:

It consists of details relating to the outward and inward supplies made/received throughout the relevant previous year under completely different tax heads i.e. CGST, SGST & IGST and HSN codes.

It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed therein year. tho' advanced, this return helps in in depth reconciliation of knowledge for 100% clear disclosures.

Who should file GSTR-9, the annual return?

All taxpayers/taxable persons registered under GST should file their GSTR nine. However, the subsequent don't seem to be needed to file GSTR 9:

Taxpayers opting composition scheme (They should file GSTR-9A)

1. Casual assessable Person

2. Input service distributors

3. Non-resident assessable persons

4. Persons paying TDS under section 51 of CGST Act.

GSTR-9 filing for businesses with turnover up to Rs 2 large integer created optional for FY 17-18 and FY 18-19.

Due Date, late fee and penalty

The day of the month to file GSTR-9 is additional extended to Gregorian calendar month thirty, 2019.

The late fees for not filing the GSTR nine at intervals the day of the month is Rs a hundred per day, per act. which means late fees of Rs a hundred underneath CGST and Rs a hundred under SGST are applicable just in case of delay.

Thus, the full liability is Rs two hundred per day of default. this is often subject to a most of zero.25% of the taxpayer’s turnover within the relevant state or union territory. However, there's no late fee on IGST however.

What ar the small print needed to be filled within the GSTR-9?

GSTR-9 is split into half dozen parts and 19 sections. every half asks for details that ar simply available from your previously filed returns and books of accounts.

1. Broadly, this kind asks for disclosure of annual sales, bifurcating it between the cases that ar subject to tax and not subject to tax.

2. On the acquisition aspect, the annual price of inward provides and ITC availed on that is to be revealed.

3. Furthermore, these purchases got to be classified as inputs, input services, and capital merchandise. Details of ITC that must be reversed thanks to qualification is to be entered.

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Forms 15G and 15H to save TDS on Interest Income

What is Form 15G and Form 15H?

Form 15G and Form 15H are forms you can submit to prevent TDS deduction on your income, if you meet the conditions mentioned below. For this, PAN is compulsory. Some banks allow you to submit these forms online through the bank’s website. Form 15H is for senior citizens, those who are 60 years or older; while Form 15G is for everybody else.

Form 15G and Form 15H are valid for one financial year. So, please submit these forms every year at the beginning of the financial year. This will ensure the bank does not deduct any TDS on your interest income.

Conditions you must fulfill to submit Form 15G

1.       You are an individual or HUF or trust or any other assessee but not a company or a firm

2.       Only Resident Indians can apply

3.       You should be less than 60 years old

4.       Tax calculated on your Total Income is nil

5.       The total interest income for the year is less than the basic exemption limit of that year, which is Rs.2.5 lakh for financial year 2019-20 (AY 2020-21)

Conditions you must fulfill to submit Form 15H

1.       You are an individual and resident Indian

2.       You’re a senior citizen or will be 60 during the year for which you are submitting the form

3.       Tax calculated on your Total Income is nil

Examples to understand who can submit Form 15G and Form 15H

Person / Category	Diya	Sagar	Arya	Komal
Age	50 years	21 years	65 years	68 years
Salary	Rs. 1,80,000	–	–	–
Pension	–	–	1,00,000	–
Fixed Deposit interest income	Rs. 85,000	Rs. 2,60,000	Rs. 1,80,000	Rs. 3,30,000
Total Income before allowing section 80 Deductions	2,65,000	2,60,000	2,80,000	3,30,000
Deductions under section 80	Rs. 45,000	Rs. 30,000	Rs. 10,000	Rs. 55,000
Taxable income	Rs. 2,20,000	Rs. 2,30,000	Rs. 2,70,000	Rs. 2,75,000
Minimum exempt income	Rs. 2,50,000	Rs. 2,50,000	Rs. 3,00,000	Rs. 3,00,000
Eligible to submit Form 15G	Yes	No	No	No
Eligible to submit Form 15H	No	No	Yes	Yes
Explanation	Form 15G can be submitted as age is less than 60 years. Total tax is nil and interest income is less than minimum exempt income.	Form 15G cannot be submitted since interest income is more than the basic exemption limit	Form 15H can be submitted if age is more than 60 years and tax calculated on total income is nil.	Form 15H can be submitted as age is more than 60 years and tax calculated on total income is nil. Form 15H can be submitted although interest income exceeds basic exemption limit.

Forgot to submit Form 15G or Form 15H?

A lot of taxpayers forget to submit Form 15G and Form 15H on time. In such a situation, the bank might have already deducted the TDS. Based on your situation, you can do any of the following.

File your income tax return to claim refund of TDS

The only way to seek a refund of excess TDS deducted is by filing your income tax return. Banks or other deductors cannot refund TDS to you, since they have already deposited it to the income tax department. Income tax department will refund excess TDS, after you file an income tax return

Submit Form 15G and Form 15H immediately

Most banks deduct TDS every quarter. If you forgot to submit Form 15G or Form 15H, don’t worry. Submit it at the earliest so that no TDS is deducted for the remaining financial year

Purposes for which Form 15G or Form 15H can be submitted

While these forms can be submitted to banks to make sure TDS is not deducted on interest, there are a few other places too where you can submit them.

·   TDS on EPF withdrawal –TDS is deducted on EPF balance if withdrawn before 5 years of continuous service. If you have had less than 5 years of service and plan to withdraw your EPF balance of more than Rs.50,000 (Rs 50,000 effective 1 June 2016, Rs.30,000 prior to that), you can submit Form 15G or Form15H. However, you must fulfil conditions (listed above) to apply for these forms. It means the tax on your total income including EPF balance withdrawn should be nil.

·    TDS on income from corporate bonds –If you hold corporate bonds, TDS is deducted on them if your income from them exceeds Rs 5,000. You can submit Form 15G or Form 15H to the issuer requesting non-deduction of TDS.

·       TDS on post office deposits –Post offices that are digitised also deduct TDS and accept Form 15G or Form 15H, if you meet the conditions applicable for submitting them.

·       TDS on rent – TDS is deducted on rent exceeding Rs 2.4 lakh annually. If tax on your total income is nil, you can submit Form 15G or Form 15H to request the tenant to not deduct TDS (applicable from 1 April 2019).

·       TDS on Insurance Commission – TDS is deducted on insurance commission, if it exceeds Rs 15000 per financial year. However, insurance agents can submit Form 15G/Form 15H for non deduction of TDS if tax on their total income is nil (with effect from 1 June 2017).

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37th GST Council Meeting Highlights

37th GST Council meeting was held on the 20th of September in Goa. Smt. Nirmala Sitharaman, the Union Finance Minister, chaired this Council meeting. Take a look at the highlights of the meeting.

Decisions at 37th GST council meeting

The meeting concluded with several decisions ranging from relaxations in annual return filing, rate revisions, deferment of new GST returns, changes to composition scheme, new GST exemptions and some clarifications detailed as follows:

1. Waiver of GSTR-9A for Composition Taxpayers for FY 2017-18 & FY 2018-19

Composition dealers have been granted exemption from filing of annual returns in GSTR-9A for the fiscal years 2017-18 and 2018-19. In the future, it is mostly expected to be done away since the form GSTR-4 has been tweaked to allow an annual declaration of turnover and tax details.

2. GSTR-9 for small taxpayers now not compulsory for FY 2017-18 & FY 2018-19

Those taxpayers having an annual turnover of up to Rs 2 crore in FY 2017-18 or FY 2018-19, may choose to not file GSTR-9, from the date to be notified by CBIC. GST Council has also decided to review the simplification of GSTR-9, 9A and 9C forms and filing. However, they must continue to file annual returns for FY 2019-2020 onwards.

Large taxpayers should continue to comply and close annual return filing both in GSTR-9 and GSTR-9C by 30 November 2019.

3. New GST Returns Deferred to April 2020

The new GST return system will now be implemented from April 2020. This decision is appreciated as several transitional issues that could crop up while implementing in the middle of the year, can now be avoided. Taxpayers can begin on a fresh note from a new financial year. It must be noted that the decision to defer applies to all taxpayers and for all forms under the new GST returns system.

4. Restrictions on ITC claim in GSTR-3B

To push the timely filing of a statement of outward supplies by taxpayers, the GST Council recommended restrictions on Input Tax Credit (ITC) claim. ITC will be restricted for the recipients if the suppliers have not furnished the details of outward supplies.

5. Circular on Post Sale Discount Withdrawn

CBIC released Central Tax Circular number 105, dated 28 June 2019. Through the circular, they have clarified post-sale discount for promotional activities by the dealer, secondary discounts, and reversal of ITC on post-sale discount.

6. GST Exemptions announced

1. Supplies of goods or services to FIFA- specified individuals for the Under-17 Women’s Football World Cup in India.
2. Supply to the Food and Agriculture Organisation (FAO) for specified projects in India.
3. Imports of certain defence goods not made indigenously (up to 2024).
4. Import of silver/platinum by specified agencies (Diamond India Ltd), and the supply of silver/platinum by specified nominated agencies to exporters for the export of jewellery.
5. Storage or warehousing services for cereals, pulses, fruits, nuts and vegetables, spices, copra, sugarcane, jaggery, raw vegetable fibres such as cotton, flax, jute etc., indigo, unmanufactured tobacco, betel leaves, tendu leaves, rice, coffee and tea.
6. Life insurance business provided or agreed to be provided by the Central Armed Paramilitary Forces (under
7. Ministry of Home Affairs) Group Insurance Funds to their members. Services provided by an intermediary to a supplier of goods or recipient of goods when both the supplier and recipient are located outside the taxable territory.
8. The BANGLA SHASYA BIMA (BSB) crop insurance scheme of the West Bengal Government.  

Other Significant Decisions

1. The validity period of the conditional GST exemption extended for export freight by air or sea by one more year till 30 September 2020.
2. Taxability of fishmeal: Exemption granted for all cases from 1 July 2017 to 30 September 2019, except where tax is already collected.
3. Pulleys, wheels and items under HSN 8483 used as agricultural machinery to be taxed at 12% during period 1 July 2017 to 31 December 2018.
4. Option to pay GST at the rate of 18% on transaction value at the time of disposal of specified goods for petroleum operations (on which concessional GST rate of 5% was paid at the time of original supply) provided that the goods are certified by Director General Hydrocarbon (DGH) as non-serviceable.
5. To specify modalities for allowing concessions on spare parts imported temporarily by foreign airlines for the repair of their aircraft, while in India in transit in terms of the Chicago Convention on Civil Aviation.

List of GST Rate changes

Here is a list of principle rate revisions passed by GST Council

GST Rate Revision effective from 1 October 2019

Item	Current Rate	New Rate
Plates and cups made of flowers, leaves and bark	5%	Nil
Caffeinated Beverages	18%	28%+12% cess
Supplies of Railways wagons & coaches (without refund of accumulated ITC)	5%	12%
Outdoor Catering (without ITC)	18%	5%
Diamond Job work	5%	1.50%
Other Job work	18%	12%
Hotels (Room Tariff of Rs.7501 or above)	28%	18%
Hotels (Room Tariff from Rs 1,001 to Rs 7,500)	18%	12%
Woven/ Non-woven Polyethylene Packaging bags	18%	12%
Marine fuel	18%	5%
Almond Milk		18%
Slide fasteners	18%	12%
Wet grinders (consisting of stone as a grinder)	12%	5%
Dried Tamarind	5%	Nil
Semi-precious stones- cut & polished	3%	0.25%
Specified goods for petroleum operation under HELP*	Applicable Rate	5%

Hydrocarbon Exploration Licensing Policy

Item	Current Rate	New Rate
Cess on Petrol Motor Vehicles (Capacity of 10-13 passengers)	15%	1%
Cess on Diesel Motor Vehicles (Capacity of 10-13 passengers)	15%	3%

 

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