GST Annual Return Filing

Under new GST regime, every taxpayer/entities are required to file GST Annual Return as per the rules made thereunder. However, as per recent amendments, now Annual Return has to be filed by all regular taxpayers whose annual turnover exceeds Rs. 2 Cr. for the relevant financial year. Thus the Annual Return is now optional for regular taxpayers having annual turnover less than 2 Cr. Also no annual return has to be filed by Composition Dealers. 

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The Annual Return has to be filed in GSTR-9 online on or before 31st Dec. of next financial year. 

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For taxpayers having Annual turnover of Rs.5 cr. and more are required to file Annual Reconciliation Statement in GSTR-9C alongwith GSTR-9. The GSTR-9C was required to be certified by CA upto the Financial year 2019-20. For Financial year 2020-21, GSTR-9C is to be self-certified only i.e. no requirement of certification from Chartered Accountant. 

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There are three types of Annual Returns which are to be filed for different taxpayers.

1. GSTR-9: All entities having GST registration are required to file GST annual return in form GSTR-9. However the same has been made optional for entities having turnover less than Rs. 2 Crore from the F.Yr. 17-18 onwards. For Turnover exceeding Rs.2 Cr. the filing of annual Return is mandatory. The time limit for filing Annual return is 31st Dec. of next financial year. i.e. 9 months from the end of the F.Yr. For the F.Yr.2020-21, the due date has been extended till 28th Feb. 2022.

2. GSTR-9A: GST registered taxpayers who have opted for the GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A. Also this Annual Return has been made optional from F.Yr. 2017-18 onwards. 

3. GSTR-9C: Form GSTR 9C is a reconciliation statement between the Annual Returns and the Audited Financial Statements of the taxpayer. For those entities whose annual turnover exceeds Rs.5 Cr.  were required to obtain Chartered Accountant certified annual reconciliation statement in Form 9C upto the Financial year 2019-20. However from F.Yr.2020-21, the requirement of certification from Chartered Accountants has been dispensed with. Now only self certified reconciliation statement in GSTR-9C has to be filed by regular taxpayers having annual turnover exceeding Rs. 5 Crores. The due date to file the reconcilation statement is 31st Dec. of the next F.Yr.

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For F.Yr.2020-21, the due date has been extended till 28th Feb.2022. 

1.Financial Statements of Taxpayer for the relevant Financial Year.

2. GSTR-3B & GSTR-1 details of the Taxpayer for the relevant F.Yr.
 

3. Complete details of all GST related ledgers i.e. output GST, Input GST, Tax paid etc.
 

4. GST Audit Report in case of GSTR-9C from a Chartered Accountant or Cost Accountant upto F.Yr.2019-20 only.