GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
GST reconciliation primarily involves comparing the GSTR -2A auto-populated from the supplier’s data and the purchase data recorded by the receiver of the supplies. This matching concept also ensures that all the transactions which took place in a particular period have been recorded.
ClearTax Assistant, a powerful companion to assist a Tax return preparer in performing activities on the Government GST Portal. Upload all your GSTR-3B data to the GSTN, automate logins, upload workflows and easily copy and paste pre-computed Challan amount based on your ledger information to the GST portal in a single click.
On July 1st, 2017, India moved to a new tax system – one that aims at converting the entire nation into a single market. If you are new to GST and keen to know how this new tax will affect you and your business, this section will help you understand the basics of the ‘Good and Simple Tax’.
In the 31st GST Council Meet, it was decided that a New Return System under GST would be introduced for taxpayers. This return system will contain simplified return forms, for ease of filing across taxpayers registered under GST. Under this New Return System, there will be one main return GST RET-1 and 2 annexures GST ANX-1 and GST ANX-2. This return needs to be filed on a monthly basis, except for small taxpayers who can opt to file the same quarterly.