GST Annual Return

GST Annual Return Staring from ₹ 4,000/- 

Introduction

Annual return is to be filed by all registered taxpayers under GST. It is an annual compilation of outward supplies, inward supplies, tax liability and input tax credit availed during a financial year. It is due to be filed by 31st December of the year following the particular financial year.

It is basically a compilation of all the returns of GST filed during the year and also contains the adjustments done during the year. If any transaction missed from being filed during the year then as per the Act we can claim it till September of next FY, then such details will also be reported in Annual return so that according to that assessment can be done for the business.

Legal Window can help you with the filing of annual return of GST just by following certain steps by providing the best assistance, timely delivery and guaranteeing the highest customer satisfaction. You may get in touch with our team on 072407-51000 or email admin@legalwindow.in for GST Annual return.

Eligibility 

Every registered person under GST is required to file Annul return in form GSTR9, GSTR-9A, GSTR9B except following person:

Casual Taxable person

Input Service Distributer

Non Residence Taxable Person

Person on which provision of TDS and TCS are applicable

Documents Required

Login details

  • ID and password of GST

Turnover details

  • Details of purchase (including exempt, reverse charge)
  • Details of sale (including exempt, zero rated, supply to unregistered person)

GST Annual Return

GSTR-9: GSTR-9 is a form which is required to be filled by normal taxpayer (i.e other than person registered under composition scheme) annually.

GSTR-9A: GSTR-9A is a form which is required to be filled by taxpayer registered under composition scheme annually

GSTR-9B: GSTR-9B is a form which is required to be filled by supplier supply their goods and services though electronic mode called E-commerce operator annually.

Procedure

1. Complete the Application Form
You are requested to first fill the simple questionnaire provided by our expert team which will enable us to know the return filing status of GST.

2. Document Processing
At the second step you will be required to produce the documents in accordance with the questionnaire filled based upon which case will be dealt so that we can arrange them as per the requirement and for further processing.

3. Preparation of form filing
After arranging the documents we will begin with the processing of the bills and returns form filed for the year and all the details in GSTR9 will be based on the monthly and quarterly returns filed by the client

4. Submission of GST Annual Return
After verification of all the data provided, the professional will discuss the matter with the clients and after the approval will file the GST Annual Return on the GST Portal.

5. Information to Client
After submitting all the documents, the acknowledgement will be provided to the client via mail.


Additional Information

At Legal Window we take proper care while preparing the documents and ensure that the client is well informed about the process of his working.

Contents of GSTR 9

GSTR 9 is divided into 6 parts and 19 sections, each part contains the details which we have already filed in our previous GST returns (GSTR3B, GSTR1, GSTR2A)

The contents are as follows-

  1. Part I- Basic Details like GSTN and business legal name.
  2. Part II- Details of Outwards supplies during the year reported in GST.
  3. Part III- Details of ITC availed, reversed and declared in the GST returns during the year.
  4. Part IV- Details of Total Taxes paid during the year either by ITC or in cash.
  5. Part V- Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to date of filing of annual return of previous FY whichever is earlier.
  6. Part VI- Other General information about business like Details of Refund claimed, HSN summary and Late fees paid during the year.

Due Dates

Due date for filling Annual return both GSTR-9 and GSTR-9A is 31st December of subsequent year.

 

Penalty

As per section 47(2) late fee would be Rs 200 per day (i.e. 100 CGST and 100 SGST) during which such failure continuous subject to a maximum of 0.25% of turnover

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FAQ's on GST Annual Return

 Is GSTR-9 is mandatory?

Ans. GSTR 9 is mandatory annual return to be filed by every taxpayer registered as normal taxpayer during the financial year. It consists of details regarding the outward and inward supplies made/received during financial year.

What is the difference between GSTR 9 and 9C?

GSTR-9 is the annual return to be filed by every GST registered taxpayer irrespective of their turnover. While GSTR-9C is the reconciliation statement to be submitted by those GST registered taxpayers to whom GST audit applies. GST Audit applies to those taxpayers whose turnover exceeds Rs. 2crores.

Can the values of GSTR-3B be used for filing GSTR-9? Which are the tables which cannot be edited and used?

Yes, the values of GSTR-3B can be used for filing GSTR-9. A taxpayer can also edit the data flowing in from GSTR-3B except for Table No. 6A-Total amount of ITC availed.

Can input tax credit that was wrongly claimed in GSTR-3B be rectified now in GSTR 9?

Ans. The excess claimed credit in GSTR-3B can be reversed by reporting such amount in Table 4(B)2 of GSTR-3B of the subsequent month. The same can also be disclosed in Part V Point 12 of GSTR-9.

Is there any exemption threshold limit below which a person is not required to file an annual return?

Ans. No, Every registered person except as specified in section 44(1) needs to furnish an annual return for every Financial Year.

Whether Stock details are need to be provided in GSTR 9?

Ans. The details in respect of the movement of stock, addition or consumption of stock is not required to be disclosed in the Annual return.

 

If my Registration has been surrendered or cancelled by me before the end of year. Am I still required to file Annual Return in GSTR-9?

If the person has applied for surrender or cancellation of the registration in the year which has been accepted by the department and GST Registration Cancellation certificate has been issued, such supplier may not be able to file the Annual Return.

 Which person are not required to file Annual Return?

Ans. Following person do not required to file Return:

  1. Casual Taxable person
  2. Input Service Distributer
  3. Non Residence Taxable Person
  4. Person on which provision of TDS and TCS are applicable
Can I ratify mistakes done in GSTR-3 in GSTR-9?

Ans. Yes, an assessee should make a correct reporting under GSTR-9.

How to show the missing outward supply details of GSTR-3B for the previous FY in the current FY?

Ans. The missing outward supply details of GSTR-3B for the previous financial year should be correctly reported under Table 10 of GSTR-9. Such outward supply details should be net of credit/debit notes.

What if GSTR 9 filing is done late?

The late fee for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default.

Who is required to file GSTR-9?

Annual return is required to be filed by all registered taxpayers under GST irrespective of the turnover of an entity.

What is GSTR-9C?

GSTR-9C is a form which is required to be filled by supplier having aggregate turnover exceeding 2crore. GSTR-9C is an audit form required to be filled by supplier who required GST audit under GST provisions annually.