All entities having GST registration are required to file GST annual returns provided their annual turnover is less than INR 2 Crores, as per the GST annual return due date schedule. GST annual return filing is mandatory for all entities having turnover exceeding INR 2 Crores.
Before filing GST annual return the taxpayer must have filed all GSTR-1 or GSTR-3B or GSTR-4 return for the period of July to March 2018. In case there are overdue GST returns for the above-mentioned period, the GST registration holder will not be allowed to file GST annual return.
GST Annual Return Filing can be divided into three types based on the form to be filed as under:
GSTR-9: All entities having GST registration are required to file GST annual return in form GSTR-9.
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.
GSTR-9C: Form GSTR 9C is meant for filing the reconciliation statement of taxpayers pertaining to a particular financial year. The form is a statement of reconciliation between the Annual Returns in GSTR-9 and the figures mentioned in the Audited Financial Statements of the taxpayer.
GSTR 9C is applicable to taxpayers who are required to obtain an annual GST audit of their accounts. GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant. GST audit is applicable for person having GST registration with an annual aggregate turnover of above INR 5 crores in a particular financial year. Advice House is the leading business services platform in India, offering end to end GST services from registration to return filing. Advice House can help you file GST annual return for your business at an affordable price. The average time taken to file a GST return is about 5 – 10 working days, subject to government processing time and client document submission. Get a free consultation on GST annual return filing by scheduling an appointment with an Advice House Advisor.