I as an enrolled taxpayer submit the GSTR 9 once each year as a report or document. This record includes information on all purchases made and receipts received during the full year. They are under various tax headings (CGST, SGST, and IGST), as well as details on turnovers and auditing for those purchases. Keep reading to know is GSTR 9 mandatory for all.
Get on a call with the experts at NoBroker to get the best assistance for your queries. Want to know the best way to manage your property? NoBroker is the sole option for it. Give it a try.Is it mandatory to file GSTR 9?
No, it is not mandatory for all. GSTR-9, or the GST Annual Return, must be filed by every ordinary taxpayer who is registered for GST and has an annual revenue of more than Rs.2 crores. Authorised suppliers, occasional taxpayers, and non-resident taxpayers are the only categories of GST-registered entities that are exempt from reporting GSTR-9s.
What are the types of GSTR 9?
The GST law specifies four different forms of annual returns which are as follows:
If you as a regularly enrolled taxpayer file GSTR 1 and GSTR 3B, then you are required to file GSTR 9.
You as a registered composite dealer should submit GSTR 9A. (composition scheme).
Providers of e-commerce who have submitted GSTR 8 for the fiscal year and who gather tax at the source are required to file GSTR 9B.
All taxpayers whose combined yearly revenue exceeds Rs. 2 crores must file GSTR 9C, an audit form.
Who needs to submit GSTR 9?
You should have a 15-digit PAN-based GSTIN and be enrolled as a taxpayer under the GST.
Your company should have a combined annual revenue of more than 20 lakh rupees.
All registered GST taxpayers, with the exception of people that have a Unique Identification Number (UIN) and non-resident taxpayers, must file this form.
For the whole year, you must record all transaction information at the billing stage. This includes stock exchanges between your company's sites that are spread out across several states.
It can as well inter-state and intra-state transactions, B2C and B2B activities, purchases of excluded goods, non-GST suppliers, and transactions related to excluded products.
I hope you understood is GSTR 9 mandatory or not.
Read More: How to file GSTR 3B online? How to download GSTR 2A for a full year? How to reverse excess ITC claimed in GSTR 3B?Your Feedback Matters! How was this Answer?
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Is GSTR 9 mandatory?
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2022-09-08T17:15:12+00:00 2022-09-08T17:15:13+00:00Comment
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