GSTR 9 is the GST annual return in Kerala that is to be done once a year by the regular taxpayers which also includes the SEZ units and the SEZ developers. The taxpayers are then required t furnish all the purchase details, the sales, input tax credit or the claimed refund, or the created demand in this return.
Who has to file the GST annual returns in GST Annual Return In Kerala
GSTR 9 Form is filed by every person who is a registered taxpayer, SEZ units, or SEZ developers and the taxpayers who have switched from the composition scheme to the normal tax any time during the financial year has to file the GST annual return in Kerala.
Composition scheme taxpayers can file the GST annual returns in Kerala in Form GSTR 9A.
Also, the casual taxpayers the non-resident taxpayers, OIDAR service providers are not required to file the GST annual returns in Kerala.
What is the prerequisite for filing GST annual returns in Kerala?
Before the GST annual return filing in Kerala:
The taxpayer is required to have an active GSTIN during the relevant year as a normal taxpayer.
The taxpayer is required to file all the returns that apply to the GSTR 1 and the Form GSTR 3B for the financial year that is relevant before the GST annual returns filings.
What details are required to be furnished in the GSTR 9 form?
Form GSTR 9 is broadly divided into 6 parts and 19 sections. In this, each part asks for the details that are available readily from the returns that are filed previously and the books of accounts.
GST annual returns in Kerala is the disclose of annual sales by bifurcating in two categories one of which is subjected to tax and not subjected to tax.
The details of the annual value of the inward supplies and the input tax credit that is availed need to be mentioned.
Further, all the purchases need to be classified as inputs, input services, and capital goods. The details of the Input tax credit that is to be reversed due to the ineligibility also need to be mentioned.
Penalty and fees
In case if the GST annual returns in Kerala are not filed within the stated time then there is a penalty of Rs.100 per day according to the Act. There is a late fee of Rs.100 under CGST and Rs. 100 under SGST.
The total liability Is Rs. 200 per day on the default. There is no late fee on the IGST yet.