GST Annual Returns
GST Annual Return is GSTR 9 to be filed by registered taxpayers under the Goods and Services Tax (GST). Since it is an annual return it is filed once at the end of the financial year having particulars of all inward and outward supplied carried out during that year.
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GST Annual Return
What is the GST Annual Return?
- It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.
- It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
Pricing
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| Government Fee | Rs 0 |
| Professional Fees | Rs 1,459 |
| Goods & Service Tax | Rs 00 |
| Total Cost | Rs 1459 |
GST Annual Return
(All you need to know)
GST has been implemented in India from 1st July 2017. Under the new GST regime, more than R 1.32 Cr businesses in India have been registered and issued GST registration. Barring few exceptions, all entities having GST registration are required to file GST annual return, irrespective of business activity or sales or profitability during the return filing period. GST registrants who obtained or held registration anytime during a given financial year are required to file annual return for the said financial year. The annual return is a compilation return which includes all business transactions corresponding to a particular financial year. It consolidates the information furnished by a taxpayer in monthly / quarterly returns filed during the particular financial year.
1.GSTR-9A: Composition dealers (small taxpayers under GST who pays the tax at fixed rates), and others who are registered under GST law and have opted for the GST Composition Scheme, are required to file GSTR-9A
2. GSTR-9B : This form is for e-commerce operators registered under GST law, and who have filed for GSTR 8 as required by them during the financial. For this reason, they need to file annual returns using the GSTR-9B form
3.GSTR-9C : This form is for individuals who are mandatorily required to obtain a GST audit of their accounts. Under this rule, these individuals are registered under the GST law and have an annual turnover more than Rs. 2 crores, in a financial year.
How to file GST annual return?
To file GST annual return please visit GST Portal. and see the steps as mentioned below:-
- Login at GST Portal and scroll to Form GSTR-9
- Download Forms GSTR-1, GSTR-3B GSTR-9 summary
- Input information as required under each form
- Preview Draft of Form GSTR-9 Summary
- Calculate liabilities, make payment of late charges, If any
- Preview Draft of Form GSTR-9
- File Form GSTR-9 with DSC/ EVC
What is the Structure of GSTR 9- Annual Return?
Annual Return format as notified in the form GSTR-9 is a very exhaustive document wherein the transactions pertaining to the last years have to be reported. It is divided in 6 parts as below:
Very first part of the GSTR 9 form includes the basic details about the taxpayer which will already be filled.
This part of the form includes the details regarding the inward and outward supply in that particular financial year of the taxpayer. These details will be in the summarized form containing all the information of FY.
In this column, the taxpayer needs to furnish the details ITC that was declared in the financial year by him along with the details of ineligible and reversed ITC if any. The details must be consolidated for the whole FY.
This section consists the details of the tax paid by the taxpayer under the GST Act during his applicable financial year. Further, to mention the details in this section GSTR3B form can also be used by the taxpayer.
Every taxpayer need to furnish the details about each and every transactions but there is a condition and that is:- Transaction declared in the returns of April to September of the current financial year or Up to the date of filing the annual return GST of the previous financial year; whichever is earlier.
Other Information such as demands and refunds, HSN Summary, Late Fee supplies received from composition taxpayers, deemed supplies etc.
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Frequently Asked Questions
Whether amount recovered as Pure Agent needs to be disclosed in the Annual Return?
Amount recovered as the pure agent is excluded from the valuation under section 15 of the CGST/SGST Act read with Rule 33 of the CGST/SGST Rules. It is not shown in the periodical GSTR-1 also and accordingly there may not be disclosure requirement of the same in the Annual Return. If such transactions are routed through Balance Sheet, there will be no disclosure in the GSTR-9C also. However, if included in the turnover as per books of account, it would be one of the reconciliation items under GSTR-9C.
Which stock details are required to be reported in the Annual Return?
The details in respect of the movement of stock, addition or consumption of stock is not required to be disclosed in the Annual return. However, assessee needs to internally derive the values of stock that is lost, stolen, issued as samples etc. and accordingly the same needs to be reversed in the monthly returns and the corresponding disclosure of the same needs to be given in Part III of the Annual Return
If my Registration has been surrendered before end of year. Am I still required to file Annual Return?
Every registered person who had a valid registration during any part of the year is required to file Annual Return. However, if the person has applied for surrender of the registration in the year which has been accepted by the department, such supplier may not have access to the GST portal and accordingly may not be able to file the Annual Return.
Who is responsible for submitting Annual Return – Registered person or Auditor?
Annual Return is a mere summary of monthly returns filed with certain additional information and it is the responsibility of the registered person to file such return. Auditor is required to reconcile the details furnished in the Annual Return with the details as per audited annual financial statement in form GTSR 9C.
I got my registration cancelled in the financial year say FY 2017-18. Can I file GSTR-9?
Yes, the annual return needs to be filed even if the taxpayer has got his registration canceled during the mentioned financial year.
Do we have to file GSTR 9 return after receiving the cancellation order even the final return is pending?
As per the Legal provision of Section 44(1) of CGST Act, every registered person shall be required to file GSTR-9. Hence, even if the status of the taxpayer is not registered as on 31st of March 2018 but he was registered between July-17 to March-18, he will be required to file GSTR-9 providing details for the period during which he was registered. Similarly, if a taxpayer had applied for cancellation of registration but the application was pending as on 31st of March 2018, he shall be required to file GSTR-9.
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