{"id":52571,"date":"2021-09-20T11:51:52","date_gmt":"2021-09-20T06:21:52","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=52571"},"modified":"2021-09-20T11:51:54","modified_gmt":"2021-09-20T06:21:54","slug":"filing-gstr-9-for-fy-2020-21-with-latest-changes","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/filing-gstr-9-for-fy-2020-21-with-latest-changes\/","title":{"rendered":"Filing GSTR 9 for FY 2020-21 with latest changes"},"content":{"rendered":"<p class=\"has-drop-cap\">GST Return is a document that contains details of income\/sales and\/or expenses which has to be filed by the taxpayer with the tax administrative authorities. The tax authorities use it to calculate net tax liability. All <strong><a href=\"https:\/\/enterslice.com\/gst-return-filing\">GSTR filings<\/a><\/strong> can be done online on the GST portal. In this article, we shall discuss filing GSTR 9 and also discuss some of the latest changes introduced.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is GSTR 9?<\/h2>\n\n\n\n<p>It is an annual return that has to be filed by registered taxpayers under GST. It includes annual compilation of outward supplies, inward supplies, tax liability, and ITC availed in a financial year. It must be filed by December 31 of the year after the particular financial year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who should file GSTR 9?<\/h2>\n\n\n\n<p>The Central Board of Indirect Taxes exempts those registered taxpayers with an annual aggregate turnover of up to 2 crore rupees in a Financial Year 2020-21 from filing this return.<\/p>\n\n\n\n<p>GSTR 9 must be mandatorily filed by those taxpayers who have an annual turnover of more than 2 crore rupees. All registered taxpayers should file GSTR 9 except the following:<\/p>\n\n\n\n<ul><li>Casual taxpayers;<\/li><li>Input Service Distributors;<\/li><li>Non-resident taxpayers;<\/li><li>Those taxpayers deducting\/collecting tax at source under Section 51 or 52.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Checklist for filing GSTR 9 for Financial Year 2020-21<\/h2>\n\n\n\n<p><em>Here we have provided complete checklist for filing GSTR 9 for FY 2020-21:<\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1022\" height=\"725\" src=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/09\/image001-23.png\" alt=\"Checklist for filing GSTR 9 for Financial Year 2020-21\" class=\"wp-image-52573\" srcset=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/09\/image001-23.png 1022w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/09\/image001-23-300x213.png 300w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/09\/image001-23-768x545.png 768w\" sizes=\"(max-width: 1022px) 100vw, 1022px\"\/><\/figure><\/div>\n\n\n\n<ul><li><strong>Collect all tax invoices issued in Financial Year 2020-21<\/strong><\/li><\/ul>\n\n\n\n<p>Taxpayers should collect all the tax invoices that were issued during the Financial Year 2020-21 for taxable as well as exempted supplies. Further, segregate the list of invoices, both B2B and B2C, for every GSTIN and ensure that the turnover specified in the audited financial statement is similar to the total number of sales specified in the tax invoice. Take note of the advances obtained during the same financial year.<\/p>\n\n\n\n<ul><li><strong>Credit debit notes issued in FY 2020-21<\/strong><\/li><\/ul>\n\n\n\n<p>All the return goods to your suppliers and received goods from your vendors that is the list of the credit debit notes issued in your book should match with the GSTR-1 and <strong><a href=\"https:\/\/enterslice.com\/learning\/filing-form-gstr-3b\/\">GSTR 3B<\/a><\/strong>.<\/p>\n\n\n\n<ul><li><strong>Reconciliation of invoices and e-way bill data for invoices issued and accounted<\/strong><\/li><\/ul>\n\n\n\n<p>The Reconciliation of invoices as well as e-way bill data for invoices issued and accounted and reported in <strong><a href=\"https:\/\/enterslice.com\/learning\/all-you-need-to-know-about-gstr-1\/\">GSTR 1<\/a><\/strong> during the financial year 2020-21 is needed.<\/p>\n\n\n\n<ul><li><strong>List of inter-branch movements\/stock transfers<\/strong><\/li><\/ul>\n\n\n\n<p>If you have different branches in India, then you are required to prepare a list of inter branch movements\/stock transfers that took place in FY 2020-21 and reconcile it with the data in your GSTR.<\/p>\n\n\n\n<ul><li><strong>List of HSN wise Inward and Outward supplies<\/strong><\/li><\/ul>\n\n\n\n<p>Enlist the HSN wise Inward and Outward supplies, but it is optional for reporting in GSTR 9 for FY 2020-21.<\/p>\n\n\n\n<ul><li><strong><a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>Amendment<\/a> entries related to FY 2020-21<\/strong><\/li><\/ul>\n\n\n\n<p>Amendment entries that are related to FY 2020-21 has to be listed for reporting in table 10 and 11 of GST Annual Return.<\/p>\n\n\n\n<ul><li><strong>List of purchases, input services bill, and ITC claimed in FY 2020-21<\/strong><\/li><\/ul>\n\n\n\n<p>Prepare the list of all purchases, input services bill, and ITC claimed in FY 2020-21, including up to September 2021 in FY 2020-21. Tables 6,7, and 8 should be filled duly, but tables 12 and 13 are optional.<\/p>\n\n\n\n<ul><li><strong>ITC on inputs, input services &amp; capital goods<\/strong><\/li><\/ul>\n\n\n\n<p>All details of ITC claims under different heads should be prepared. The bifurcation is optional for FY 2020-21 in table 6 of GSTR 9.<\/p>\n\n\n\n<ul><li><strong>Self certified reconciliation statement in Form GSTR 9<\/strong><\/li><\/ul>\n\n\n\n<p>The Central Board of Indirect Taxes notified changes to Section 35(5) and Section 44 of the CGST Act. Now the requirement to get GST audit and certification from CA\/CMA is no longer required. Taxpayers with turnover of more than 5 crore rupees in the previous financial year should file Form GSTR 9C on a self-certification <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Basis&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;In finance, the &amp;quot;basis&amp;quot; is a term with several applications, including representing the difference between the spot price and the future contract price of an asset, which is vital in investment(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/basis\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>basis<\/a>. Moreover, <strong>Form GSTR 9C<\/strong><sup><a href=\"https:\/\/www.gst.gov.in\/download\/gstr9c\"><strong>[1]<\/strong><\/a><\/sup> would be modified to support self-certification by the taxpayer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Late fee in case of a delay<\/h2>\n\n\n\n<p>In case a registered person fails to furnish GSTR 9 by the due date, then such person would be liable to pay late fee of 200 rupees every day during which such a failure continues subject to a maximum amount calculated at a half per cent of his turnover in the state or UT. It may be noted that at the time of calculating maximum late fee, the turnover in state\/ turnover in UT will be taken into consideration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>Registered taxpayers with annual aggregate turnover of up to 2 crore rupees in a Financial Year 2020-21 are exempted from filing GSTR 9, but it must be mandatorily filed by those taxpayers who have an annual turnover beyond 2 crore rupees.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/enterslice.com\/learning\/gst-reconciliation-statement-gstr-9c\/\">GST Reconciliation Statement Form GSTR 9C<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST Return is a document that contains details of income\/sales and\/or expenses which has to be filed by the taxpayer with the tax administrative authorities. The tax authorities use it to calculate net tax liability. All GSTR filings can be done online on the GST portal. In this article, we shall discuss filing GSTR 9 [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":52572,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2560],"tags":[4139],"acf":{"service_id":"104"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Filing GSTR 9 for FY 2020-21 with Latest Changes - Enterslice<\/title>\n<meta name=\"description\" content=\"Filing GSTR 9 is annual return &amp; includes annual compilation of outward supplies, inward supplies, tax liability, &amp; ITC availed in a financial year.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/filing-gstr-9-for-fy-2020-21-with-latest-changes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Filing GSTR 9 for FY 2020-21 with Latest Changes - Enterslice\" \/>\n<meta property=\"og:description\" content=\"Filing GSTR 9 is annual return &amp; includes annual compilation of outward supplies, inward supplies, tax liability, &amp; ITC availed in a financial year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/filing-gstr-9-for-fy-2020-21-with-latest-changes\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-20T06:21:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-20T06:21:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/09\/Filing-GSTR-9-for-FY-2020-21-with-latest-changes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"352\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Ashish M. 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