The GSTR-9 is an annual return to be filed by all registered taxpayers under GST except a handful. It is an annual compilation of outward supplies, inward supplies, tax liability, and input tax credit availed during a financial year. It is due to be filed by 31 December of the year following the particular financial year.
GSTR-9 is compulsorily applicable to taxpayers with an annual total turnover of more than Rs.2 crore. All registered taxpayers are required to file GSTR-9 except Casual taxpayers; Input Service Distributors, Non-resident taxpayers; and Taxpayers deducting/collecting tax at source under Section 51 or Section 52.
Here’s a complete checklist for GSTR-9 filing for Financial Year 2020-21 with the recent updates.
The taxpayers need to be ready with all the Tax Invoices issued during FY 2020-21 for both taxable and exempted supplies. Further, you are supposed to segregate the list of invoices both B2B and B2C for every GSTIN and make sure that the turnover mentioned in the audited financial statement matches with the total number of sales mentioned in the tax invoice accounted for by you. Make a note of the advances received during FY 2020-21.
All return goods to your suppliers and received goods from your vendors i.e. the list of Credit Debit Notes issued in FY 20-21 as an accountant in your book should match with GSTR-1 and GSTR-3B.
The reconciliation of the invoices and e-way bill data for the invoices issued and accounted as well as report in GSTR-1 during FY 20-21 is required and this match at GSTR-11
4. List of Inter Branch movements or stock transfers
In case you have different branches all over India should prepare a list of Inter Branch movements or stock transfers that happened during the FY 2020-21 and reconcile with the data declared in your GST return.
Remember to enlist the HSN wise outward and Inward Supplies. However, it is optional for reporting in GSTR-9 for FY 2020-21.
All the Amendment Entries pertaining to FY 2020-21 should be listed for the purpose of reporting in tables 10 and 11 of the GST Annual Return.
Be ready with the list of all purchases, input services bill and ITC claimed during FY 2020-21 including upto September 2021 in FY 2020-21. Tables 12 and 13 are optional whereas Tables 6, 7, and 8 must be duly filled.
Get ready with all the details of ITC claims under different heads. This bifurcation is again optional for FY 2020-21 in table 6 of GSTR-9.
The CBIC has notified changes to Sections 35(5) and 44 of the CGST Act. The requirement to get a GST audit and certification done by a CA/CMA now stands removed. Taxpayers with a turnover exceeding Rs.5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis. This change is applicable from FY 20-21 onwards. Further, Form GSTR-9C will be modified to support self-certification by the taxpayer.