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How to Simplify GSTR-9 Filing with Zoho Books?

The Goods and Services Tax Return – 9 or GSTR-9 is considered to be the annual return that needs to be filed by the GST-registered taxpayers in India. This return should contain the details of all the purchases, sales, input taxes, and the claims on taxes paid during the return filing period.

Zoho Books helps you simplify the overall filing process with the services of the annual return filing.

Who Has to File this Return?

It is very integral for almost all the Indian businesses to get registered for the GST to file their annual return except for Non-resident Tax Payers, Input Service Distributors, Casual Tax Payers, and businesses that are eligible to deduct TDS.

You will have to file the return for the period it was active in case there has been any cancellation of your registration.

Importance of Zoho Books in Filing Your Return

Filing of your GSTR-9 is considered to be a complex process as it requires extra care. There are six parts of the GSTR-9 which are split into 19 tables containing details about the purchases, sales, taxes paid, ITC reversed or availed, refunds, amendments made, late fees paid, HSN summaries, and a lot more.

It is crucial to make sure that you provide the correct details and do not miss anything since the return filed cannot be updated or unfiled.

The filing process is effectively separated by the Zoho Books into four simple steps and as a result, you can easily file the returns.

Instant Generation of the GSTR-9 without Manual Data Entry

You can directly file your returns on the GST portal. This would manually involve tabulating the data from your accounts and filling them in 6 integral parts of the form. Most of the app data are auto-populated with the help of Zoho Books.

Not only that, but it also helps in the generation of a GSTR-9 summary which saves your precious time from complex calculations. The summary which is generated by the Zoho Books contains important details about the:

  • Purchases, sales, ITC reversals, tax paid, and amendments that are recorded in the Zoho Books for the return filing period.
  • SAC or HSN details about the products which are available in your Zoho Books’ transactions.
  • Real-time breakdown of the Input Services, Capital Foods, and Inputs of all your Imports and Inward Supplies.

Fetching Important Data from GST Portal for Basic Reconciliation

Many important details are available in your Zoho Books which might not be available in the specific form that is generated by the GST portal. Zoho Books procures the system calculated summary from the GST portal. It allows you to reconcile with the Zoho Books summary.

You can update the overall summary with the aid of proper values if any mismatch occurs. This ensures that your data is complete and consistent.

Pushing the Ultimate Return to the GST Portal

With the help of updated data, it is possible to push your final return directly to the GST portal. In case any of the data is missed, it is possible to make specific changes in the Zoho Books. You can push them again in the portal unless you are sure to get all the proper details.

Filing the Return

You can log in to the GST portal whenever you have pushed your final return from the Zoho Books. As a result, you can successfully file your return without any delay.

Final Words

So, these are some of the integral steps which would help you to simplify the GSTR-9 filings with the help of Zoho Books. You can be saved from the late fees when you consider on-time filing. These are chargeable in the portal for the returns which are filed after 31st of August, 2019.