What is annual return?

Annual return (FORM GSTR-9) is to be filed by the registered taxpayer on or before the thirty-first day of December following the end of such financial year. It consists of details regarding the supplies made and received during the year.

It consolidates the information furnished in the monthly/quarterly returns during the year.But there is some exception who is not required to fill the annual return an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person.

What is the format of the return?

As per the GST Rules, various forms have been prescribed for the purpose of return, depending upon the categories of the tax payers, which are as follows :

There is four type of annual return

1. GSTR 9: GSTR 9 should be filed by the regular taxpayers filing GSTR 1, GSTR 2, and GSTR 3.
2. GSTR 9A: GSTR 9A should be filed by the persons registered under composition scheme under GST.
3. GSTR 9B: GSTR 9B should be filed by the E- commerce operators who have filed GSTR8 during the financial year.
4. GSTR 9C: GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs 2 crores during the financial year. All such taxpayers are also required to get their account audited in accordance with the provisions of sub-section (5) of section 35 and file a copy of audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement along with GSTR 9C.

What is the penalty of non-filing the return?

Failure to file annual return shall attract a late fee of RS 200 per day during the period of failure, subject to a maximum of 0.25% of the said Financial Year’s turnover.