GST Annual return


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GST Annual return:-

  • GST Annual return is to be filled every financial year on or before 31st December of the subsequent financial year.
  • GST Annual return contains the consolidate figure of outward and inward supplies (Sale and Purchase) made during the year. GST Annual return consolidates the transaction furnished in the monthly/quarterly GSTR 3B or GSTR 1 returns during the financial year.

Type of Annual Returns under GST:-

GSTR 9:-

Every registered person (regular taxpayer) is required to filed a annual return once a year. The last date of filling of Annual return is 31st December 2018 for the F.Y. 2017-18 but as per 31st GST council meeting the date of filling of GSTR 9 return has been extend upto 30th June 2019.

GSTR 9A:-

Every registered person (who has opted Composition Scheme) is required to filed a annual return once a year. The last date of filling of Annual return is 31st December 2018 for the F.Y. 2017-18 but as per 31st GST council meeting the date of filling of GSTR 9 return has been extend upto 30th June 2019.

GSTR 9B:-

Every E-Commerce operator is required to file Annual return every year.

GSTR 9C:-

Every registered person whose turnover exceeds of Rs.2 crores during the financial year is require to file its annual return and this type of person is required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts.

Due Date of GST annual Return:-

Annual GSTR return is to be filled every financial year on or before 31st December of the subsequent financial year.

Whether GST annual Return can be revised:-

There is no option to revised the annual GST return. So, carefully check the return and then file it on timely to avoid the penalty which is liable on late filling.

Late filing fees of GST annual Return:-

The due date filling of GST annual return is 31st December of the subsequent financial year. If GSTR annual return is not filled on or before the due date then penalty will be applicable in the form of late fees.

Late filing fees as under:-

  1. Maximum late fees can be 0.25% of the total turnover.
  2. Late fees under CGST is Rs. 100/- per day.
  3. Late fees under CGST is Rs. 100/- per day.
  4. There is no late fees under IGST.

Following person require to file its annual return:-

  1. Registered regular taxpayer (GSTR 9)
  2. Composition dealer (GSTR 9A)
  3. E-Commerce operator (GSTR 9B)
  4. Turnover exceed of Rs. 2crore (GSTR 9C)

Exception:-

Following person not require to file GSTR Annual returns:-

  1. Input Service Distributors (ISD)
  2. Casual Taxable persons
  3. Non-resident taxable person
  4. Person paying tax TDS u/s 51 of GST Act.

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