March 21, 2023

GST Annual Returns

GST annual return is a comprehensive document that taxpayers registered under the Goods and Services Tax (GST) system need to file annually. It includes a summary of all transactions that took place during the financial year, i.e., from July to March. The GST annual return is filed in Form GSTR-9, and there are different types of GSTR-9 forms for different types of taxpayers.

The GST annual return is a critical compliance requirement for taxpayers under GST, and failure to file it can attract penalties and interest. It is essential to ensure that all the information provided in the GST annual return is accurate and matches with the books of accounts.

The government has introduced several measures to make the process of filing the GST annual return more straightforward and less time-consuming for taxpayers. For instance, taxpayers can now file their GST annual returns online and can also use GST software or GST filing tools to make the process more streamlined.

There are three types of GST annual returns:

1. GSTR-9: It is the annual return for regular taxpayers filing monthly returns.

2. GSTR-9A: It is the annual return for composition scheme taxpayers.

3. GSTR-9C: It is a reconciliation statement that needs to be filed by taxpayers whose annual turnover exceeds Rs. 2 crores. It requires the certification of a chartered accountant.

Needs to file a GST annual return

All taxpayers registered under GST (except Input Service Distributors, Casual Taxable Persons, and Non-Resident Taxable Persons) are required to file an annual return in Form GSTR-9. In addition, taxpayers


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