Effortless GST Annual Return Service by Speed Filings

Introduction

GSTR-9, the annual filing obligation under the Goods and Services Tax (GST) system, is crucial for all registered taxpayers. It consolidates comprehensive information on outward and inward supplies, covering transactions throughout the fiscal year. At Speed Filings, we specialize in simplifying GSTR-9 form filing, making the complex tax process straightforward.

Your GSTR-9 Partner

Dealing with taxes can be confusing, but with Speed Filings, you can confidently navigate the GSTR-9 filing process. Our user-friendly approach and expertise ensure accurate filings. Make Speed Filings your partner for stress-free tax responsibilities.

Understanding Form GSTR-9

Basics of GSTR-9

GSTR-9 is a yearly report summarizing all business transactions, purchases, and sales, including various taxes like CGST, SGST, and IGST. It provides a comprehensive overview of a taxpayer’s financial activities for the year.

Applicability

Entities obligated to submit GSTR-9 include:

• Normal Taxpayers: Regular businesses under standard tax provisions.
• SEZ Units and Developers: Reporting financial activities within the fiscal year.
• Transitioned Entities: Those moving from the composition scheme to regular taxpayer status.

Exclusions

Certain entities are exempt from GSTR-9 filing:

• Composition Taxpayers: File GSTR-9A instead.
• Casual Taxpayers: Engaging in sporadic business activities.
• Non-Resident Taxpayers: Engaging in taxable transactions within India.
• ISD and OIDAR Service Providers: Input Service Distributors and Online Information providers.

Types of GST Annual Returns

• GSTR-9: For entities with a turnover exceeding 2 crores.
• GSTR-9A: For composition scheme participants.
• GSTR-9C: Reconciliation statement, applicable for annual audit.

Filing GSTR-9A for Composition Scheme Participants

Applicability

GST-registered taxpayers opting for the composition scheme must file GSTR-9A. This tailored return addresses their specific needs.

Eligibility Criteria

Every taxpayer under the composition levy scheme in GST must fulfill the GSTR-9A filing requirement.

Filing GSTR-9C: Reconciliation Statement

Role and Requirement

GSTR-9C serves to reconcile annual returns in GSTR-9 with audited financial statements for the financial year. It’s crucial for entities requiring an annual account audit.

Eligibility Criteria

GSTR-9C applies to taxpayers undergoing an annual GST audit with an aggregate turnover exceeding two crores.

Due Dates and Penalties

The due date for filing GSTR-9 is 31st December of the subsequent financial year. Late filing incurs a penalty of 200 INR per day, capped at the taxpayer’s quarterly turnover.

Comprehensive Structure of GSTR-9

GSTR-9 is divided into six parts, capturing details of supplies, input tax credit, tax paid, and miscellaneous details. Understanding and correctly filling these parts are crucial for accurate filing.

Prerequisite Actions

Before filing GSTR-9, ensure timely submission of GSTR-1, GSTR-3B, or GSTR-4 returns, and address any outstanding dues.

How Speed Filings Can Assist

• Expert Guidance: Our tax experts guide you through the GSTR-9 form, ensuring accuracy.
• Data Verification: We ensure the accuracy of your data before submission, reducing the risk of errors.
• Timely Reminders: Stay informed with timely reminders to avoid late filing penalties.
• Support at Every Step: Our customer support team assists with any queries or clarifications.
• Comprehensive Services: Beyond form-filling, we assist with data compilation and calculations.

Ready to Simplify Your GSTR-9 Filing?

Let Speed Filings be your trusted partner in tax compliance. Contact us now to take the hassle out of GSTR-9 filing and experience a stress-free way to fulfill your obligations.