Here’s what taxpayers like you should know about GSTR-9

✔  Deadline to file GSTR-9 for the FY 2017-18 is extended to 30th November 2019.

✔  If you’re a composition scheme taxpayer or e-commerce operator, you must file annual returns using another form (Not GSTR-9).

✔  If your annual turnover > Rs 2 crore, you must file GSTR-9C along with GSTR-9.

What does it take to file GSTR-9?
 ✔ Filing GSTR-9 is not simple! You have to thoroughly recheck your business transactions right from the beginning.
✔ In GSTR-9, some tables will be auto-populated, but some must be filled manually using GSTR-1 and GSTR-3B filed before.
✔ The tax you’ve paid, returns filed by your vendors, your account books, & your GSTR-9 should all say the same thing! The data should match each other.
✔ Any difference between your books of accounts and GSTR-9 will be rejected.
✔ You’ll get notices from the tax department if mistakes are found in your GSTR-9.
✔ If you have paid taxes online but made mistakes in GSTR-3B, your GSTR-9 will be auto-populated with wrong data.
✔ If B2B sales and B2C have been misreported through GSTR-1, it can’t be changed now.
✔ To identify the mistakes beforehand, you will have to go through a thousand transactions in your account books if you have not maintained a digital copy of your business data.
✔ In case, you’re using a smart business accounting software like Vyapar( DOWNLOAD  Here) that quickly identifies the mistake and helps fix errors, you’re saved!
✔ You can’t claim additional ITC using GSTR-9.
✔ If you have to pay any pending tax to the GOVT before filing GSTR-9, it should be done without fail.

Begin preparing GSTR-9 without any further delay! Solve all your issues with GSTR-9 quickly before the deadline.

Filing GSTR-9 successfully will help you move on and do clean and stress-free business in the upcoming years!

Stay updated about the Latest GST News on Vyaparapp.in.

Download the free billing software

Happy Vyaparing!!!

vyaparapp, business accounting, invoicing app. billing, create invoice

 

 

You May Also Like

Leave a Reply