Annual Returns
Annual Returns
GSTR-9 is a crucial annual compliance requirement for all taxpayers registered under the Goods and Services Tax (GST) system. It provides a detailed summary of all outward and inward supplies made or received during the financial year. This includes transactions under Central GST (CGST), State GST (SGST), and Integrated GST (IGST).
Essentially, GSTR-9 consolidates all the information reported in the monthly or quarterly GST returns filed throughout the year into one comprehensive statement. Filing this annual return accurately is important to maintain compliance and avoid penalties.
Navigating the GSTR-9 filing process can sometimes feel overwhelming, but with clear guidance and a step-by-step approach, it becomes much easier. Staying organized and ensuring all your monthly and quarterly returns are reconciled before filing your GSTR-9 will help you complete the process smoothly and on time.
What is GSTR-9?
• GSTR-9 is the Annual Return form that taxpayers registered under GST must file.
• It contains a comprehensive summary of all the outward supplies (sales), inward supplies (purchases), input tax credits, tax paid, and other details for the entire financial year.
• It helps reconcile the data filed in monthly/quarterly returns.
Who Should File GSTR-9?
• Regular taxpayers registered under GST with aggregate turnover exceeding ₹2 crores in the financial year.
• Casual taxable persons and non-resident taxable persons.
• Those required to file returns for the whole financial year.
• Taxpayers registered as Input Service Distributors (ISD) and TDS deductors file different returns, but GSTR-9 is mainly for regular taxpayers.
Exclusions From Filing GSTR-9?
Certain categories are excluded or exempt from filing GSTR-9:
• Taxpayers with aggregate turnover up to ₹2 crores (subject to periodic government notifications).
• Composition scheme taxpayers — who file GSTR-9A instead.
• Input Service Distributors (ISD) and TDS/TCS deductors — file other specific returns.
• Taxpayers with NIL transactions may still need to file a NIL GSTR-9.
• Taxpayers whose registration has been canceled during the financial year do not file GSTR-9 for that year.
Due Date of GSTR-9
• The due date to file GSTR-9 is 31st December of the next financial year.
• For example, for FY 2023-24, the due date is 31 December 2024.
• Late filing attracts penalties and interest.
Why is Annual Return Important under GST?
• It provides a detailed annual account of all transactions.
• Helps the government cross-verify monthly/quarterly returns.
• Ensures transparency and proper reconciliation of taxes paid and credits claimed.
• Helps taxpayers maintain compliance and avoid penalties.
Forms for Annual Return
There are mainly two forms under GST related to annual filings:
| Form | Description | Who Should File |
|---|---|---|
| GSTR-9 | Annual return for regular taxpayers | Regular taxpayers, normal taxpayers with turnover > ₹2 crores |
| GSTR-9A | Annual return for composition scheme taxpayers | Taxpayers registered under composition scheme |
| GSTR-9C | Reconciliation statement + audit report | Taxpayers with turnover exceeding ₹5 crores, audited by CA or CMA |
Details Required in GSTR-9 (Annual Return for Regular Taxpayers)
1. Basic details: GSTIN, legal name, financial year.
2. Outward supplies: Details of all sales made during the year.
3. Inward supplies: Details of purchases from registered and unregistered dealers.
4. Tax paid: Tax paid during the year, including interest and late fees.
5. Input Tax Credit (ITC): ITC claimed and reversed during the year.
6. Tax liability: Reconciliation of tax liability and payments.
7. Refund claimed: If any refund was applied for or granted.
8. Demand and refund: Any outstanding demand or refund related to GST.
9. Other information: HSN-wise summary of goods supplied, advances received/adjusted, etc.
GSTR-9C (Reconciliation Statement)
• Mandatory for taxpayers with aggregate turnover above ₹5 crores.
• Comprises a reconciliation statement between the annual return filed in GSTR-9 and the audited financial statements.
• Certified by a Chartered Accountant or Cost Accountant.
• Contains a declaration on the correctness of returns and reconciliation.
FAQs on GSTR-9 Annual Return Under GST
1.Can GSTR-9 be revised once filed?
No. GSTR-9 cannot be revised after submission, so it’s important to ensure all information is accurate before filing.
2.Is filing GSTR-9 mandatory for taxpayers with nil transactions?
Yes, taxpayers must file a NIL GSTR-9 return even if no transactions occurred during the financial year.
3.How is GSTR-9 different from monthly returns like GSTR-1 and GSTR-3B?
GSTR-1 and GSTR-3B are monthly or quarterly returns detailing outward supplies and tax payments, while GSTR-9 is an annual summary that consolidates all these returns.
4. How is the turnover calculated for GSTR-9 applicability?
The aggregate turnover includes the turnover of all GST registrations under a single PAN across India, including exempt supplies but excluding inward supplies on which reverse charge is applicable.
5. Does GSTR-9 include details of amendments made during the year?
Yes, GSTR-9 captures both original supplies and amendments made to supplies or returns filed during the financial year.
6. How do I rectify errors in GSTR-9 once filed?
There is no provision to revise GSTR-9 after filing. Errors can be rectified in subsequent financial years’ returns or through GST audit processes.
7. Can I claim additional input tax credit while filing GSTR-9?
No, GSTR-9 is a summary return and does not allow claim or adjustment of input tax credit. ITC claims must be made in the monthly or quarterly returns.
8. Is GSTR-9 required for casual taxable persons?
Yes, casual taxable persons must file GSTR-9 for the financial year in which they held registration, even if for a short period.
9.What if my business has multiple GSTINs under the same PAN?
You need to file separate GSTR-9 returns for each GSTIN registered in different states or union territories.
10.Does GSTR-9 include input tax credit availed on imports?
Yes, input tax credit availed on imported goods and services must be reported in GSTR-9 under the ITC section.
11.How to handle advances received during the year in GSTR-9?
Advances received and adjusted against supplies must be reported separately under the relevant sections of GSTR-9.
12.Does GSTR-9 include details of exempted and non-GST supplies?
Yes, exempted and non-GST supplies must be disclosed in the relevant parts of the return.
13.How do I disclose supplies to SEZ units in GSTR-9?
Supplies to SEZ units and developers must be reported under the appropriate section related to zero-rated supplies.
14.Is it mandatory to disclose details of tax paid late in GSTR-9?
Yes, any tax paid late or through challans must be disclosed in the tax payment section.
15. Are e-commerce operators required to file GSTR-9?
Yes, e-commerce operators registered under GST must file GSTR-9 for their annual returns.
16. How to disclose job work transactions in GSTR-9?
Job work transactions, including goods sent and received back, must be reported under the appropriate inward and outward supplies sections.
17.How should mismatches between GSTR-9 and GSTR-1 be resolved before filing?
Reconcile outward supplies declared in GSTR-1 with GSTR-9; any discrepancies should be corrected either by filing amendments or noting differences clearly in GSTR-9.
18. How do I report ITC on capital goods in GSTR-9?
ITC availed on capital goods during the year must be reported separately in the input tax credit section of the return.
19.Can I report credit notes issued in a previous financial year in the current year’s GSTR-9?
No, credit/debit notes should be reported in the financial year in which they are issued.
20.What are the common errors made during GSTR-9 filing?
Common errors include mismatched turnover figures, incorrect ITC claims, missing amendments, incorrect HSN codes, and non-reporting of advances or late fees.
