Goods and Services Tax (GST) was introduced in India on July 1, 2017, and has since then undergone several changes to simplify and streamline the tax filing process. One such change was the introduction of GSTR-9A, a simplified annual return form for taxpayers who have opted for the Composition Scheme. In this blog, we will discuss what GSTR-9A is, who is eligible to file it, and the penalties for non-compliance.
What is GSTR-9A?
GSTR-9A is a simplified annual return form that taxpayers registered under the Composition Scheme have to file. The Composition Scheme is an optional scheme under GST that allows small taxpayers to pay a fixed percentage of their turnover as tax, instead of paying tax on the value of the goods or services they supply. The GSTR-9A form contains consolidated details of all the quarterly returns filed under the Composition Scheme during the financial year.
Who is eligible to file GSTR-9A?
Taxpayers who have opted for the Composition Scheme are eligible to file GSTR-9A. However, taxpayers who have registered under the Composition Scheme but have not made any supply during the financial year are not required to file the GSTR-9A return.
When is GSTR-9A due for filing?
The due date for filing GSTR-9A is December 31st of the following financial year. For example, the due date for filing GSTR-9A for the financial year 2021-22 is December 31, 2022.
What are the penalties for non-compliance?
Failure to file GSTR-9A on or before the due date attracts a penalty of Rs. 200 per day (Rs. 100 as a late fee for CGST and Rs. 100 as a late fee for SGST) up to a maximum of 0.25% of the taxpayer’s turnover in the state or union territory. In case of intentional tax evasion, the penalty can go up to 10% of the tax due or Rs. 10,000, whichever is higher.
GSTR-9A is a consolidated annual return form that includes details of all the quarterly returns filed under the Composition Scheme during the financial year. The form includes information on outward supplies, inward supplies, input tax credit availed, tax paid, and other relevant details. It is important to note that the details reported in GSTR-9A must match the information filed in the quarterly returns.
Filing GSTR-9A is mandatory for taxpayers registered under the Composition Scheme who has made any supply during the financial year. However, the form does not allow for any amendments or revisions. Therefore, taxpayers must review and reconcile all the quarterly returns before filing the GSTR-9A.
In case a taxpayer has registered under the Composition Scheme but has later crossed the threshold limit of Rs. 1.5 crores turnover, they will be required to file GSTR-9 instead of GSTR-9A for the financial year in which they cross the threshold limit.
It is important to file GSTR-9A on or before the due date to avoid penalties. In case of any errors or omissions in the form, taxpayers should rectify the same in the next quarterly return. Failure to file the GSTR-9A on time can also result in the taxpayer being barred from filing any other GST returns until the GSTR-9A is filed and any outstanding taxes or penalties are paid.
In conclusion
GSTR-9A is an important annual return form for taxpayers registered under the Composition Scheme. Filing the form on time and accurately is crucial to avoid penalties and maintain compliance with the GST regulations. Taxpayers can seek assistance from tax professionals or use the services of GST software providers to simplify the filing process.
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Frequently Ask Question
Q:1 What is GSTR-9A?
A: GSTR-9A is a simplified annual return form that taxpayers registered under the Composition Scheme have to file. The form includes consolidated details of all the quarterly returns filed under the Composition Scheme during the financial year.
Q:2 Who is eligible to file GSTR-9A?
A: Taxpayers who have opted for the Composition Scheme and have made any supply during the financial year are eligible to file GSTR-9A. Taxpayers who have registered under the Composition Scheme but have not made any supply during the financial year are not required to file the GSTR-9A return.
Q:3 What is the due date for filing GSTR-9A?
A: The due date for filing GSTR-9A is December 31st of the following financial year. For example, the due date for filing GSTR-9A for the financial year 2021-22 is December 31, 2022.
Q:4 What are the penalties for non-compliance with GSTR-9A?
A: Failure to file GSTR-9A on or before the due date attracts a penalty of Rs. 200 per day (Rs. 100 as a late fee for CGST and Rs. 100 as a late fee for SGST) up to a maximum of 0.25% of the taxpayer’s turnover in the state or union territory. In case of intentional tax evasion, the penalty can go up to 10% of the tax due or Rs. 10,000, whichever is higher.
Q:5 Can I make amendments to GSTR-9A after filing?
A: No, GSTR-9A does not allow for any amendments or revisions. Therefore, taxpayers must review and reconcile all the quarterly returns before filing the GSTR-9A.
Q:6 What happens if I do not file GSTR-9A?
A: Failure to file GSTR-9A on time can result in penalties, being barred from filing any other GST returns until the GSTR-9A is filed, and the inability to claim an input tax credit for the financial year.
Q:7 Is there any difference between GSTR-9 and GSTR-9A?
A: Yes, GSTR-9 is an annual return form that applies to regular taxpayers, while GSTR-9A is a simplified annual return form that applies to taxpayers registered under the Composition Scheme.
Q:8 Can I seek assistance for filing GSTR-9A?
A: Yes, taxpayers can seek assistance from tax professionals or use the services of GST software providers to simplify the filing process.
