GST Annual Return

Here is a quick summary of GST annual return and its requirements for filing the forms.

1. As per Rule 80 of the CGST Rules, 2017, every registered business is liable to file a GST Annual Return for each financial year on or before the 31st December of the following financial year. Accordingly, the last date of filing the GST Annual Return for FY 2021-22 is 31-Dec-2022.

2. Forms GSTR-9 & GSTR 9C form part of filing GST annual returns, the registered taxpayers who were regular taxpayers, including SEZ units and SEZ developers. The taxpayers are required to furnish details of purchases, sales, input tax credit or refund claimed or demand created etc. in this return.

3. Form GSTR-9 is required to be filed by every person registered as a normal taxpayer. However, a certain class of taxpayers may be exempted from filing Form GSTR-9 by way of Notifications issued by Government of India from time to time.

4. Form GSTR-9 is to be filed by a person who is registered as a normal taxpayer, including SEZ unit or SEZ developer and the taxpayers who have withdrawn from the composition scheme to normal taxpayers any time during the financial year.

Note: a) Composition taxpayers can file Annual Return in Form GSTR-9A.

b) Annual Return is not required to be filed by casual taxpayer / Non Resident taxpayer / ISD/ OIDAR Service Providers

5. Form GSTR-9C is required to be filed by every registered person whose aggregate turnover is above a Rs.5 Crore during the financial year, as notified by way of Notifications issued by Government of India from time to time. Such taxpayers are required to get their accounts audited and self-certified by reconciliation statement by the business owner and need to submit a copy of audited annual accounts and reconciliation statement.

6. Late Fees for non filing of forms is liable to a fee of Rs.200/- per day during which the default continues (Rs. 100 under CGST Act + Rs. 100/- under State / Union Territory GST Act subect to a maximum amount of 0.50% (0.25% under the CGST Act + 0.25% under the SGST / UTGST Act) of turnover in the State/UT.

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