ACompleteGuidetoGSTReturnFiling(GSTR-9)
Filing Online -
The Elimination of a Wide Range of Different Taxes
Eliminating the Cascading Effect
The Control and Supervision of Unorganized Businesses
Efficient Economy
AGSTR-9filingisaformthatataxpayerhastofileforeveryGSTINto whichheisregistered.Inthisblog,wehaveprovidedvariouscritical questionssurroundingGSTreturnfiling.
EverytaxpayerhastofileaGSTreturn.Therearearound22varieties ofGSTforms.SothenumberandtypeofGSTyouhavetofile dependonthetypeoftaxpayeryouhaveregistered.
WhileyouunderstandwhatGSTreturnsare,itisalsoimportantto knowthetypesoftaxpayers.
Typesoftaxpayers:
Regulartaxpayer
Compositionoftaxablepersons
TDSdeductors
Non-residenttaxpayer
InputServiceDistributor
Casualtaxablepersons
E-commerceoperators
GSTR-9 is an annual return to be done by taxpayers who are registered under GST. Following is the information contained in GSTR-9:
Details of outward supplies made
Inward supplies received
Summary of supplies received under HSN code
Details of tax payable and paid
TheEliminationofaWideRangeofDifferentTaxes:Since theintroductionoftheGST,therehavebeenfewer restrictionsplacedonthedifferenttypesoftaxesthat maybeappliedtogoodsandservices.
GSTisoneofthebiggesttaxreformsin Indiatillnow.TheGoodsandServicesTax (GST)isaninitiativebytheIndian Governmentthataimstoeasetheprocess ofmanagingonlinepaymentsand regulatorycompliance.
EliminatingtheCascadingEffect:Themostimportant benefitoftheGSTreturnfilingprocessiseliminatingthe cascadingeffect,sometimesknownasremovingatax ontopofanothertax(doubletaxation). 02
TheControlandSupervisionofUnorganizedBusinesses:Earlier, thedisorganizedanduncontrolledsectorsinthecountry,likethe textileandconstructionindustries,weresubjectedtoregulation andarenowheldaccountablefortheiractions. 03
EfficientEconomy:TheGoodsandServicesTax(GST),whichwill eventuallyimprovelong-termeconomicdevelopmentand efficiency,isunchangedbycompanytypes,methods, geographiclocation,andorganizationalstructure.
