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GST Annual Return
GST Annual Return: A GST annual return refers to the summary of monthly/quarterly returns filed during a financial year. A GST annual return is also the final filing made in a financial year.
GSTR-9: The GST Annual Return Form
GSTR-9 is the form used for filing GST annual returns in a financial year. Form GSTR-9 is also used as a detailed account of supplies (outward or inward) that have been received and sent, under the acts CGST, SGST, IGST, and UGST.
Every person registered under the GST law where yearly turnover is less than Rs. 2 Crores is required to file annual returns via form GSTR-9, while the reconciliation statement is filed using Form GSTR-9C.
Who are exempted from filing Form GSTR-9?
Every taxpayer registered under GST is required to file annual returns via form GSTR-9. However, some people are exempted from this rule as they have registered as:
- Casual taxable person: An individual who undertakes occasional supply of taxable goods or services or both.
- A non-resident taxable individual: An individual who undertakes occasional supply of taxable goods or services or both, with no place of business or residence in India.
- Input service distributors: They distribute input tax credit for services billed in one state, but avail tax credit in another state.
- People liable for TDS: They receive payment after tax is deducted.
Different types of GST annual return forms
GST annual return forms are filed based on the taxpayer category. While GSTR-9 is the most commonly used form for filing annual returns, for every person registered under the GST law where yearly turnover is less than Rs. 2 Crores, there are three other forms as well.
- GSTR-9A: Composition dealers (small taxpayers under GST who pays the tax at fixed rates), and others who are registered under GST law and have opted for the GST Composition Scheme, are required to file GSTR-9A
- GSTR-9B: This form is for e-commerce operators registered under GST law, and who have filed for GSTR 8 as required by them during the financial. For this reason, they need to file annual returns using the GSTR-9B form
- GSTR-9C: This form is for individuals who are mandatorily required to obtain a GST audit of their accounts. Under this rule, these individuals are registered under the GST law and have an annual turnover of more than Rs. 2 Crores, in a financial year.
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