GST Annual Return Filing. Easy guide for FY 19-20 & Onwards

GST Annual Return Filing – This article will help users to understand GST Annual Return Filing form, due dates, applicability of such form, details to filled in such forms and types of GST Annual Return filing.

GST Annual Return Filing link >> https://www.gst.gov.in/

Table of Contents

What is GSTR 9 Form under GST Annual Return Filing?

GSTR 9 Form is used for GST Annual Return Filing.

A registered taxpayer is mandatorily required to file Annul Return once a year which includes the details of all the supplies and purchases and expenses during the year. This will also include total turnover and other audit information.

Registered taxpayer is also required to file a Certified reconciliation statement between taxpayer’s annual return filed in form GSTR-9 and audited financial statement. However, a relief has been given to small taxpayers with turnover below INR two crores are not required to file this reconciliation form GSTR 9C.

Due date of GSTR9 or when annual return is to be filed GST Annual Return Filing

The due date for GST Annual Return Filing by using Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for financial year 2019-2020 has been extended up to 31st March 2021. Various fields of the form have been made optional for ease of taxpayer.

Types of GSTR 9 or types of Annual Return under GST Annual Return Filing

Different forms applicable to different registered persons are as follows:

GSTR-9 – Taxpayers file GSTR-1 and GSTR-3B have to file annual return using form GSTR-9. However a notification from government comes every year giving exemption to small taxpayers with annual turnover of less than 2 crores for filing annual return. However, following are persons who are not required to file GSTR-9:
- Input Service Distributor
- Non-resident taxable Person
- Registered person who are required to deduct tax at source(TDS) under Section 51 or collect tax at source (TCS) under Section 52 of the GST Act.
- Casual Taxable Person
- E-Commerce Operators (ECO) that collect TCS and files GSTR-8
- Composite dealers
GSTR-9A – Composite dealers have to file annual return using form GSTR-9A. However, following are persons who are not required to file GSTR-9A:
- Input Service Distributor
- Non-resident taxable Person
- Registered person who are required to deduct tax at source(TDS) under Section 51 or collect tax at source (TCS) under Section 52 of the GST Act.
- Casual Taxable Person
- E-Commerce Operators (ECO) that collect TCS and files GSTR-8
GSTR-9B – E-Commerce Operators (ECO) that collect TCS and files GSTR-8 have to file annual return using form GSTR-9B.
GSTR-9C – Form GSTR-9C is meant to file the taxpayers’ reconciliation statement about a particular financial year. This form is a statement of reconciliation between the Annual returns in GSTR-9 and the figures mentioned in the taxpayers’ Audited financial statements.

GSTR-9A has been discontinued for FY 19-20 onwards and now composite dealers are required to file annual return in form GSTR-4 compulsorily irrespective of turnover.

GSTR 9C should be filed by every registered person whose turnover exceeds 5 crores in a financial year. GSTR 9C must be prepared and certified by a CA or Cost accountant. GST audit is applicable for a person having GST registration with an annual aggregate turnover of above two crores in a particular financial year.

Form GSTR 9C is meant for filing the reconciliation statement of taxpayers about a particular financial year. The form is a statement of reconciliation between the Annual Returns in GSTR-9 and the figures mentioned in the taxpayer’s Audited Financial Statements. Given that, this CA-certified form must be filed during the filing of Annual Returns in GSTR-9 and the Audited Financial Statements. The obligation can either be completed through the GST portal or a Facilitation Centre. This article deals with the usage and need of the form.

GSTR 9C applies to taxpayers who are required to obtain an annual GST audit of their accounts. It must be prepared and certified by a Chartered Accountant or Cost Accountant. However, following are persons who are not required to file GSTR-9C:

Input Service Distributor
Non-resident taxable Person
Registered person who are required to deduct tax at source(TDS) under Section 51 or collect tax at source (TCS) under Section 52 of the GST Act.

GSTR-9C requirement of certification by Chartered Accountant or CMA has been discontinued for FY 21-22 onwards and now self certification has to be given in form 9C by authorized signatory or proprietor as the case may. Please note : The requirement of filing form GSTR-9C is on registered person whose AGREEGATE TURNOVER DURING A FINANCIAL YEAR EXCEEDS 5 CRORES.

Who should file GSTR 9 under GST Annual Return Filing?

All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9:

Taxpayers opting composition scheme (They must file GSTR-9A) *From FY 19-20 GSTR -4
Casual Taxable Person
Input service distributors
Non-resident taxable persons
Persons paying TDS under section 51 of CGST Act.

What details are required to be filled in the GSTR-9 under GST Annual Return Filing?

The GSTR-9 is broadly divided into six parts containing 9 tables. 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.

GST Annual Return filing exemptions

The filing of annual return in FORM GSTR-9 has been made optional for taxpayers having Aggregate Annual Turnover less than R 2 Crores for the financial years 2017-18, 2018-19, 2019- 20, 2020-21 and 2021-22.

The filing of annual return in FORM GSTR-9A by composition dealers has been made optional for the financial years 2017-18, 2018-19, 2019-20, 2020-21 and 2021-22

The threshold of Aggregate Annual Turnover for filing of reconciliation statement in FORM GSTR-9C for the financial year has been increased from Rs 2 Crores to Rs 5 crores.

Need Expert Assistance for GST Annual Return filing

For expert assistance on GST Annual Return filling in Udaipur and Rajasthan, reach our professionals at Tax Ledger Advisor.

Also refer other relevant post > https://www.taxledgeradvisor.com/gst-registration/ https://www.taxledgeradvisor.com/gst-return-filing/