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March 21, 2023
By
Harshini

50 Important & Practical FAQs on Annual Returns - GST Audit

What is an annual return in GST?

An annual return in GST is a summary of all the transactions undertaken during a financial year.

Who is required to file an annual return in GST?

All registered taxpayers under GST are required to file an annual return, except for a few specific categories.

What is the due date for filing an annual return in GST?

The due date for filing an annual return in GST is December 31 of the following financial year.

Can an annual return be revised?

No, an annual return filed in GST cannot be revised.

What are the consequences of not filing an annual return in GST?

If a registered taxpayer fails to file an annual return, they may be subject to penalties and fines.

What are the contents of an annual return in GST?

An annual return in GST includes details such as sales and purchases, input tax credit availed, output tax payable, and GST paid during the financial year.

What is the format for filing an annual return in GST?

The format for filing an annual return in GST is GSTR-9.

Can a taxpayer file an annual return in GST if they have not filed all monthly/quarterly returns?

No, a taxpayer must file all monthly/quarterly returns before filing an annual return in GST.

Is it mandatory to reconcile the annual return with monthly/quarterly returns?

Yes, it is mandatory to reconcile the annual return with the monthly/quarterly returns filed during the financial year.

Is a GST audit mandatory for all taxpayers?

No, a GST audit is not mandatory for all taxpayers. However, certain taxpayers may be required to undergo a GST audit.

Who can conduct a GST audit?

A GST audit can be conducted by a chartered accountant or a cost accountant.

What is the due date for filing a GST audit report?

The due date for filing a GST audit report is December 31 of the following financial year.

What are the consequences of not undergoing a GST audit?

If a taxpayer is required to undergo a GST audit but fails to do so, they may be subject to penalties and fines.

Can a taxpayer opt for a voluntary GST audit?

Yes, a taxpayer can opt for a voluntary GST audit.

What are the benefits of a voluntary GST audit?

A voluntary GST audit can help a taxpayer identify any errors or discrepancies in their GST returns and rectify them before they are penalized.

Can a taxpayer be audited under GST more than once?

Yes, a taxpayer can be audited under GST more than once.

Can a taxpayer be audited under both state and central GST?

Yes, a taxpayer can be audited under both state and central GST.

What is the format for filing a GST audit report?

The format for filing a GST audit report is GSTR-9C.

What are the contents of a GST audit report?

A GST audit report includes details such as the reconciliation of the annual return with the books of accounts, and the verification of the correctness of the input tax credit claimed.

What is the penalty for non-compliance with GST audit requirements?

The penalty for non-compliance with GST audit requirements is Rs. 25,000.

Can a taxpayer rectify errors found during a GST audit?

Yes, a taxpayer can rectify errors found during a GST audit by filing an amended return.

What is the time limit for rectifying errors found during a GST audit?

The time limit for rectifying errors found during a GST audit is the due date for filing the annual return of the following financial year.

What is the time limit for issuing a GST audit report?

The time limit for issuing a GST audit


What is an annual return in GST?

An annual return in GST is a document filed by registered taxpayers to provide details of their income, tax liability, input tax credit (ITC) utilization, and other relevant information for the previous financial year.

Who is required to file an annual return in GST?

All registered taxpayers under GST, except for those registered under the composition scheme, are required to file an annual return.

What is the due date for filing the annual return in GST?

The due date for filing the annual return in GST is December 31 of the subsequent financial year.

What are the different types of annual returns in GST?

There is only one type of annual return in GST, which is GSTR-9.

What is the penalty for not filing the annual return in GST?

The penalty for not filing the annual return in GST is Rs. 200 per day (Rs. 100 as late fee for Central GST and Rs. 100 as late fee for State GST) up to a maximum of 0.25% of the taxpayer's turnover in the relevant financial year.

Can an annual return be revised in GST?

No, an annual return cannot be revised in GST.

Can an annual return be filed after the due date in GST?

Yes, an annual return can be filed after the due date in GST, subject to the payment of late fees.

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