Online GST Annual Return Filing Process, Due Date for fy 2018-19 - Onfiling
GST Services

GST Annual Return

Overview

GST returns include two types of return - periodic and annual returns. The periodic return is monthly or quarterly returns for reporting transactions during the month or quarter, while the annual return is for reporting the summary of the periodic returns filed during a financial year. GSTR-9 is the annual return that all registered, taxable people must file. It is necessary for a business to file this return annually by 31st December of the coming financial year (FY). It comprises of the amount of taxes paid (CGST, SGST, IGST) during the year, as well as details of exports or imports.

Features of GST annual Return are as follows:

  • It consists of details related to outward and inward supplies received or made in the relevant previous year under CGST, SGST, IGST and HSN codes.
  • It provides transparency disclosures of monthly/ quarterly return.
  • It should be filed by taxable person, input service distributors, non- resident taxable person, taxpayers opting for composition scheme and person paying TDS.

Advantages

  • There is no late fee charged on IGST.
  • This form provides disclosure of annual sales by stating that what is subject to tax and not subject to tax.
  • It also reveals the annual value of inward supplies.
  • Purchases are to be classified as inputs, inputs services and capital goods.

Disadvantages

  • Late fees for not filing GSTR 9 within due date is charged i.e. Rs. 100 per day under CGST and Rs. 100 under SGST.

Registration Process

  • GSTR 9 contains six parts in which we need to fill all the details, firstly you need to enter the basic details such as financial year, legal name, trade name and GSTIN in Part 1.
  • Now the second part requires details of different types of transactions in which you need to fill details of purchases, sales supplies, advances on which tax is payable.
  • Part 3 includes information about your ITC balance. Here you need to mention details of ITC that you have availed, as mentioned in the returns filed during the financial year.
  • Part 4 requires all the details of tax paid as declared in returns during the financial year.
  • Part 5 is having the particulars of the transactions for the previous financial year declared in returns of April to September of the current financial year or up to date of filing of annual return of the previous financial year, whichever is earlier.
  • Part 6 is the final part where you need to mention other information that has not been provided earlier such as refunds, demands, special kinds of supplies.
No other common registration

The registration process is same as mentioned in the registration section.

FAQS

All taxpayers are required to file the return with certain exceptions such as taxpayers who have obtained registration as: 'Casual Taxable Persons' or 'Non-resident taxable persons' like exhibitors.
It is an annual return which is filed once in every financial year. Here the taxpayers have to summarise the data submitted in the periodic returns.
Yearly statement which provides essential information about a firm's composition, activities, and financial position, and it must be filed by every incorporated or registered firm with an authorised authority.
For Non-audit taxpayers, it is compulsory to furnish the Annual return only. There is no any option available under the GST to revise the return.

List of Documents

  • Disclosure of Annual sales
  • Annual value of inward supplies and ITC availed
  • Details of Input Tax Credit

Pricing Plan

BASIC ₹2899
One Time

  • Turnover less than Rs.25 lakhs
  • GSTR-9 Filing
  • Personalised GST Accountant
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SILVER ₹4899
One Time

  • INCLUSIVE OF BASIC PACKAGE
  • Turnover less than Rs.2 crores
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GOLD ₹8500
One Time

  • INCLUSIVE OF SILVER PACKAGE
  • Turnover more than Rs.2 crores
  • GSTR-9C Filing
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