GST Annual Return Filing – Process, Due Dates & Penalties

Introduction

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. Every registered taxpayer under GST is required to file an annual return, which serves as a consolidated summary of all monthly or quarterly GST returns filed during the financial year. Timely and accurate GST annual return filing is crucial for ensuring compliance and avoiding penalties.

What is the GST Annual Return?

The GST annual return is a compilation of the taxpayer’s monthly or quarterly returns, including details of outward and inward supplies, taxes paid, input tax credit claimed, and any refunds received. It helps the government cross-verify data and ensure that there are no discrepancies in tax reporting.

Types of GST Annual Returns

Form

Applicable To

Description

GSTR-9

Regular taxpayers

Consolidated details of outward/inward supplies, ITC, tax paid, etc.

GSTR-9A

Composition scheme taxpayers (till FY 2018-19)

Annual return for those under the composition scheme.

GSTR-9C

Taxpayers with turnover above ₹5 crore

Reconciliation statement with audited financial statements.

GSTR-9B

E-commerce operators (notified by the government)

Details of supplies made through the platform.

Who Should File the GST Annual Return?

• All regular taxpayers registered under GST (excluding casual taxable persons and non-resident taxable persons).
• Taxpayers under the composition scheme (only till FY 2018-19).
• E-commerce operators, in specific cases.
• Businesses with aggregate turnover exceeding ₹ five crore must also file GSTR-9C along with GSTR-9.

Due Date for GST Annual Return Filing

The due date for filing GST annual returns is 31st December of the subsequent financial year. For example, for FY 2023–24, the last date to file the annual return is December 31, 2024, unless extended by the government.

Penalty for Late Filing

Failure to file the GST annual return on time can attract:

• Late Fees: ₹200 per day (₹100 CGST + ₹100 SGST), subject to a maximum of 0.25% of the taxpayer’s turnover in the respective state or union territory.
• Interest may also be levied on any tax due.

Documents Required for Filing

• GSTIN and legal business name
• Details of outward supplies and inward supplies
• Input Tax Credit (ITC) details
• Monthly/Quarterly GST returns (GSTR-1, GSTR-3B)
• Bank statements and financial statements
• Reconciliation of sales and purchase registers

Steps to File GST Annual Return

1. Log in to the GST portal
2. Navigate to Services → Returns → Annual Return.
3. Select the appropriate financial year.
4. Choose the correct return form (e.g., GSTR-9)
5. Fill in all the relevant details manually or using auto-populated data.
6. Review and reconcile values.
7. Submit and file using Digital Signature Certificate (DSC) or Electronic Verification Code (EVC)

Why Filing GST Annual Return Matters

• Ensures legal compliance
• Avoids penalties and legal issues
• Helps in identifying any reporting errors or mismatches
• Acts as a valuable financial summary for audits and funding purposes

Conclusion

Filing the GST annual return is not just a statutory requirement but also a good practice to review and reconcile your business’s financial data. Whether you’re a small business owner or managing a large enterprise, timely and accurate filing ensures compliance and smooth functioning of your tax processes. If needed, consult a GST practitioner or a tax expert to make the process easier and error-free.