GST Annual Return Filing Services

GSTR-9 is the annual return under GST that must be filed by all registered taxpayers (except Input Service Distributors, casual taxable persons, and persons liable to deduct/collect tax at source). It is a consolidation of all monthly or quarterly returns filed during the financial year and provides a summary of outward supplies, inward supplies, tax paid, and input tax credit availed.

GSTR-9C is the Reconciliation Statement that must be filed by registered taxpayers whose aggregate turnover exceeds ₹5 crore during a financial year. It is a reconciliation between the annual return (GSTR-9) and the audited annual financial accounts. GSTR-9C consists of two parts: Part A - Reconciliation Statement (prepared by taxpayer) and Part B - Certification (certified by Chartered Accountant or Cost Accountant).

The due date for filing GSTR-9 and GSTR-9C is 31st December of the next financial year. For example, for FY 2023-24, the due date is 31st December 2024. The government may extend this date through notification. It's important to file before the due date to avoid late fees and interest.

Late filing of GSTR-9 attracts a late fee of ₹200 per day (₹100 CGST + ₹100 SGST) subject to a maximum of 0.25% of the taxpayer's turnover in the state or union territory. For example, if your turnover is ₹50 lakhs, maximum late fee is ₹12,500. There is no separate late fee for GSTR-9C, but it must be filed along with GSTR-9.

Yes, if you are registered under GST, you must file GSTR-9 even if you have nil transactions during the financial year. However, the government has exempted certain categories from filing GSTR-9 including taxpayers registered as Input Service Distributors, casual taxable persons, non-resident taxable persons, and persons paying tax under Section 51 (TDS) or Section 52 (TCS) only.

GSTR-9 is the annual return that consolidates all monthly/quarterly returns filed during the year. It must be filed by all regular taxpayers. GSTR-9C is the reconciliation statement required only for taxpayers with turnover above ₹5 crore. It reconciles the values reported in GSTR-9 with the audited financial statements and must be certified by a CA or CMA.

No, GSTR-9 cannot be revised after filing. It's crucial to ensure accuracy before submission. If you discover errors after filing, you can correct them in the next financial year's return or through the amendment mechanism in subsequent returns. GSTR-9C also cannot be revised once certified and filed.

GSTR-9 requires: 1) Basic details (GSTIN, legal name, trade name), 2) Details of outward supplies (taxable, exempt, nil-rated, non-GST), 3) Details of inward supplies liable to reverse charge, 4) Input Tax Credit details (availed, reversed, net), 5) Tax paid details (integrated, central, state/UT tax), 6) Particulars of transactions for previous FY, 7) Other information (HSN summary, late fees, demands).

Aggregate turnover is calculated as the aggregate value of all taxable supplies (excluding inward supplies on which tax is payable on reverse charge basis), exempt supplies, exports of goods or services, and inter-state supplies of persons having the same PAN, to be computed on all India basis. It excludes CGST, SGST, UTGST, IGST, and cess. If this exceeds ₹5 crore, GSTR-9C is mandatory.

If there is a mismatch between GSTR-9 and audited financial statements, it must be explained in GSTR-9C. Common reasons include: unbilled revenue, credit notes issued after year-end, goods sent on approval, advance received, etc. Our experts identify these differences, prepare proper reconciliation, and provide explanations for variances in GSTR-9C.

Yes, composition taxpayers are required to file GSTR-9. Earlier, they filed GSTR-9A (simplified annual return), but from FY 2019-20 onwards, they file the regular GSTR-9 with some modifications. Composition dealers must report their consolidated outward supplies, tax paid, and other details in GSTR-9.

A Chartered Accountant or Cost Accountant plays a crucial role in GSTR-9C: 1) Reconciling the annual return with audited financials, 2) Identifying and explaining variances, 3) Certifying the accuracy of reconciliation in Part B of GSTR-9C, 4) Providing observations on compliance with GST provisions. The CA's certification adds credibility to the annual compliance.