GST ANNUAL RETURN FILING

GSTR-9 is an essential annual return required for all taxpayers registered under the Goods and Services Tax (GST) system. This form encapsulates comprehensive details about both outward and inward supplies, covering transactions made or received during the relevant financial year. It includes supplies governed by Central GST (CGST), State GST (SGST), and Integrated GST (IGST) regulations. Essentially, GSTR-9 is a consolidated record of all monthly or quarterly returns filed throughout the year.

GST Annual Return Filing - Applicability

Form GSTR-9 is mandatory for several categories of taxpayers, based on their GST registration status and activities during the financial year. The entities required to submit this annual return include:

  • Normal Taxpayers: Individuals or entities registered as regular taxpayers need to file GSTR-9, which covers businesses operating under standard tax provisions.
  • SEZ Units and Developers: Special Economic Zone (SEZ) units and developers must also submit GSTR-9 to ensure comprehensive reporting of their financial activities within the fiscal year.
  • Transition from Composition Scheme: Taxpayers who have transitioned from the Composition Scheme to normal taxpayer status during the year are required to file GSTR-9. This helps document their shift from a simplified tax regime to the regular tax framework.

Exemptions from GSTR-9 Filing:

  • Composition Scheme Taxpayers: Those who are part of the Composition Scheme must file GSTR-9A, a return specific to their tax framework, and are not required to submit GSTR-9.
  • Casual Taxpayers: Taxpayers who engage in sporadic or occasional business activities are exempt from filing GSTR-9.
  • Non-Resident Taxpayers: Non-resident taxable persons engaged in transactions within India are not obligated to file GSTR-9.
  • Input Service Distributors (ISD) & OIDAR Service Providers: These entities are also excluded from the GSTR-9 filing requirement.

Types of GST Annual Returns

  • GSTR-9: This is the main annual return for taxpayers with a turnover exceeding Rs. 2 crore. It consolidates financial information about the business for the year.
  • GSTR-9A: This return is specifically for taxpayers who have opted for the GST Composition Scheme. It consolidates all quarterly returns filed by these taxpayers throughout the fiscal year.
  • GSTR-9C: This form is a reconciliation statement required for taxpayers with annual turnover exceeding Rs. 2 crore. It aligns the taxpayer’s GSTR-9 with their audited financial statements for the year. Chartered Accountants or Cost Accountants must certify this form, and it’s essential for entities undergoing a GST audit.