GST Annual Return

GST Registration Services in Delhi

GST Annual Return Filing

GSTR-9 or GST annual return filing for taxpayers registered under GST Scheme.

Documents Required

GSTIN, Invoice

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How to File GST Annual Return for 2021

Implemented in India from 1st July 2017. Over 1.3 crore businesses in India have been registered and issued GST registration under the new GST regime. The entities registered under GST must file annual returns as per the scheduled GST return due date.

GST annual return filing is mandatory for all entities with a turnover of more than two crores required to obtain GST registration, irrespective of the business activity or sales or profitability during the return filing period. Hence, even a dormant business that gets GST registration must file GST returns.

What is GSTR 9: Annual Return Filing?

GSTR 9 is the annual return that is to be to be filed yearly by the taxpayers registered under GST.

GSTR 9 is to be filed yearly by the taxpayers registered under GST. It consists of details regarding the outward and the inward supplies made during the relevant financial year.

Before filing GSTR 9, the taxpayer must file all GSTR-1, GSTR-3B, or GSTR 4 returns. In case of over dues, the GSTR registration holder will not be allowed to file an annual GST annual return.

GSTR 9 consists of details regarding the outward and the inward supplies made or received during the relevant financial year under CGST, SGST, and IGST. It is a consolidation of all the monthly/quarterly returns filed in that year.

Who should file GSTR 9?

All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9:
  1. Taxpayers opting composition scheme (They must file GSTR-9A)
  2. Casual Taxable Person
  3. Input service distributors
  4. Non-resident taxable persons
  5. Persons paying TDS under section 51 of CGST Act.

GST Annual Return Due Date

The due date for filing Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for financial year 2019-2020 has been extended up to 31st March 2021 basing the pandemic situation.The Government has also decided to simplify these forms by making various fields of these forms is optional.

The GSTR-9 is broadly divided into six parts and 19 sections. Each part asks for the details that are readily available from previously filed returns and books of accounts.

This form asks for disclosure of annual sales, bifurcating between the cases subjected to tax and those not subjected to Tax.

The annual value of the inward supplies and ITC availed thereon is to be revealed.

Further, these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that need to be reversed due to ineligibility are to be entered.