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Which individuals are required to submit GSTR 9?

- All GST registered taxpayers must file GSTR 9

- Taxpayers in composition scheme must file GSTR 9A

- Casual taxable persons, input service distributors, and non-resident taxable persons are not required to file GSTR 9

- Persons paying TDS under section 51 of CGST Act are also not required to file GSTR 9

 How to submit your GST Annual Return?

As of 1st July 2017, GST registration was introduced across India, leading to the registration and issuance of GST numbers to over 1.3 crore businesses. It is mandatory for these registered entities to file their annual returns on time following the scheduled GST return due date.

- GST annual return filing is essential for entities with turnover of more than two crores. It is required for all businesses with GST registration

- Business activity or sales/profitability during return filing period does not matter. Even dormant businesses with GST registration must file returns.

Note:  According to the 37th GST Council Meeting, the deadline to file GSTR-9 for fiscal year 2018-2019 is November 30, 2019. Remember, the due date for submitting this return is December 31 of the following year. This implies that if you complete the GSTR-9 for 2019, you must do so by December 31, 2020.

Deadline for filing the GST annual return

The Government has extended the deadline for filing Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for the financial year 2019-2020 up to 31st March 2021, taking into account the on-going pandemic situation.

Additionally, to simplify these forms, the Government has made several fields optional for users to ensure greater ease and convenience.

 Particulars must be completed in the GSTR-9 form

·         The GSTR-9 is categorically divided into six major parts and 19 sections. Each part is dedicated to acquiring information that can be readily obtained from previously submitted returns and bookkeeping records.

·         This form demands an explicit disclosure of annual sales, distinguishing between taxable and non-taxable cases.

·         In addition, the annual value of the inward supplies and the ITC availed from it must be explicitly stated.

·         Furthermore, the mentioned purchases must be classified as inputs, input services, or capital goods. And it is of utmost importance to enter the details of ITC that are ineligible for reversal.

Types of GST annual return

Here are the different types of GST annual return filings you should know about:

- GSTR-9: This one's for entities with a turnover of more than 2 crores.

- GSTR-9A: If you're registered and opted for the GST Composition scheme, you'll need this form.

- GSTR-9C: This form is for reconciliation between your Annual returns in GSTR-9 and audited financial statements. It's applicable for taxpayers who require annual audits of their accounts, and must be prepared and certified by a CA or Cost accountant. It can be filed through the GST portal or a Facilitation Centre. This form is important for verifying financial data accuracy and preventing errors.

If you have a GST registration with an annual aggregate turnover of above two crores in a particular financial year, you'll need to go through a GST audit.

Eligibility criteria to file GSTR-9A and GSTR-9C