Analysis of Annual return under GST

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TaxClue Team
TaxClue Team
Taxclue is an online news portal for reporting all news, articles, judgments, Circulars, orders, and notifications relating to various corporate and tax laws in India. We use the tagline ‘Simplifying Laws’. Our mission is to Simplify the Laws and make people aware of their rights and duties in relation to tax matters in order to equip them to participate in nation-building.

What are Annual returns under GST?

Annual return to be filed by the persons registered under Goods & Services Tax in which the person has to file the details of purchase made (inward supplies) and sales (outward supplies) made during the previous year. In other words, Annual Return is a consolidated statement of all the returns (GSTR-1, GSTR-2A & GSTR-3B, etc.) filed by the taxpayers during the year.

The annual return is not required to fill in case of following Taxpayers: –

All registered taxpayers are required to file annual return except the following persons:

  1. Casual taxable person (CTP)
  2. Non-resident taxable person (NRTP).
  3. Input service distributor (ISD)
  4. Persons authorized to deduct tax at sources u/s 51.
  5. Persons authorized to collect tax at sources u/s 52.

Types of annual returns forms: –

  1. GSTR-9: – It should be filed by the regular taxpayer.
  2. GSTR-9A: – It should be filed by a person registered under the composition scheme.
  3. GSTR-9B: – It should be filed by a person registered under the e-commerce operator.

Reconciliation Statement (GSTR-9C): –

Every registered person must get his accounts audited by a registered Chartered Accountant or a Cost Accountant if his aggregate turnover during the previous financial year is 2 crore or more.

The copy of the (1) audited annual accounts and (2) a reconciliation statement, duly certified, should be furnished in form GSTR-9C.

Reconciliation statement will reconcile the value of supplies declared in the return furnished for the financial year with the audited annual financial statements and such other particulars as may be prescribed.

Due date of filing GSTR-9 & 9A: –

The due date of filing of annual return is 31st December of the subsequent financial year. It may be noted that the central government has the power to extend such date.

Note:  For the Financial Year 2017-18, the due date of filing of Annual return has been extended to 30th June 2019.

Late fees levied for delay filing of annual return:-

Every registered person who fails to file the annual return on time shall be liable to pay a late fee which is lower of the following-

  1. 100 for every day during which such failure continues
  2. 25% of the turnover of the registered person in the state/Union territory.

What are the details required to be filled in GSTR-9?

GSTR-9 is divided into the following parts and details given in the following table is to be filled.

Part Table Description
I 1-3 Basic details of the taxpayer, tradename, GSTIN, legal name, due date, financial year, status.
II 4 Details of advances, inwards and outward supplies during the financial year on which tax is payable.
II 5 Details of outward supplies made during the year on which tax is not payable.
III 6 Details of ITC availed during the previous year.
III 7 Details of ITC reversed and ineligible ITC for the financial year.
III 8 All other ITC related information.
IV 9 Details of tax paid as declared in returns filed during the financial year.
V 10-13 Particulars of the transaction for the previous year declared in the return filed between April to March next financial year.
V 14 Differential tax paid on account of declaration in table 10 & 11.
VI 15 Particulars of demand and refund.
VI 16 Supplies received from composition taxpayers, deemed supply by job worker and goods sent on approval basis.
VI 17 HSN wise summary of outward Supplies
VI 18 HSN wise summary of Inward Supplies
VI 19 Late fees payable or paid


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