GST Annual Return Filing: A comprehensive Guide with Tax2win

What is Form GSTR-9?

GSTR-9 is an annual report that registered taxpayers must file. It summarizes all their yearly purchases and sales, along with details of taxes like CGST, SGST, and IGST, along with cess and HSN codes. The report also includes total sales, purchases, and audit information for the year, providing a complete overview of the business’s transactions and tax data. Businesses with a turnover of up to Rs. 2 crore are not required to file GSTR-9, but they may do so voluntarily. In simple words, it is a consolidation of all the monthly/quarterly returns, GSTR-1, GSTR-2A, GSTR-2B, GSTR-3B filed in that year. This return helps reconcile the data for 100% transparent disclosures.

Applicability of GST Annual Return Filing

All taxpayers registered under GST are required to file GSTR-9, except the following -

• Taxpayers opting for the composition scheme (GSTR-9A)
• Casual Taxable Person
• Input Service Distributors
• Non-resident taxable persons
• Persons paying TDS under Section 51 of the CGST Act.
• Persons Collecting TCS Under Section 52 of the CGST Act.

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Types of GSTR-9

All taxpayers registered under GST are required to file GSTR-9, which is an annual return. Given below are the different types of GSTR-9 that you might have to file and their applicability.

• GSTR-9: Regular GST taxpayers who file GSTR-1 and GSTR-3B have to file this return. Taxpayers with an annual turnover exceeding Rs. 2 crore must file their GST annual return using Form GSTR-9, which compiles detailed financial information.
• GSTR-9A: Registered taxpayers under the GST Composition Scheme had to file GSTR-9A until 2018-19. However, from FY 2019-20 onwards, it is replaced with GSTR-4 annual return due for every financial year on 30th April of the following year.
• GSTR-9B: It is applicable to e-commerce operators collecting tax TCS (Tax at Source) and filing GSTR-8 each month.
• GSTR-9C: This form reconciles the taxpayer's annual GSTR-9 return with their audited financial statements for the financial year. Required for entities undergoing an annual audit, GSTR-9C is prepared and certified by a Chartered Accountant or Cost Accountant and applies to taxpayers with an annual turnover above Rs. 5 crores.

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What is the due date for filing Annual Returns?

As per section 44 of the CGST Act, Annual returns must be filed on or before the 31st day of December following the end of the financial year, for which the return is being filed, for all categories of taxable persons. Therefore, the due date for filing GSTR-9 annual return is 31st December, 2025, for FY 2024-25.

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What are the Consequence of non-filing or failure to submit the annual return?

Starting FY 2022-23, the following late fee will be applicable for non-filing or late filing of GSTR-9, based on the turnover of the taxpayers -

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Can Annual Returns once filed can be revised/amended subsequently?

The Option of amendment of Annual Returns has not been provided under section 44 or rule 80. Thus, it appears that once the annual returns are filed, it would be considered as final and no further amendments would be possible. Therefore, it is important to make sure you file your GSTR accurately. GSTR filing can be complex and therefore, it is best to take professional help. Tax2win’s tax experts can help you file your GSTR accurately and in a timely manner. Hire a tax expert now!

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Are there any documents that need to be submitted along with the Annual Returns?

Before filing GSTR-9, taxpayers must complete all other required GST filings, such as GSTR-1, GSTR-3B, or GSTR-4, based on their classification. Any outstanding dues should be settled, as unpaid amounts can prevent the taxpayer from submitting their annual GST return.

The requirement to submit documents does not depend upon the filing of Annual Returns. Rather, it is linked to the applicability of getting your accounts audited. In GST liability for audit is governed by section 35(5) of the CGST Act 2017. As per the section, every registered person whose turnover during the financial year exceeds Rs 2 crore shall get his books of accounts audited.

Further, as per Section 44 (2) of the Act, every person who is required to get his accounts audited shall furnish the Annual Return along with the following documents-

• Copy of audited annual accounts and
• A Reconciliation Statement reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed.

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How many Annual Returns need to be filed by an organization having multiple GSTIN’s?

All registered person except mentioned in section 44(1) of the CGST act are required to file annual returns. A person having multiple GSTINs shall be considered a distinct person for each GSTIN. Which means, he needs to file Annual Returns separately for each GSTIN. For Example, A company having 25 registrations across different states in India, would be required to file 25 Annual Returns for the Financial Year 2024-25.

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What is the Structure of GSTR-9?

The GSTR-9 form is organized into six parts, each capturing key details of supplies made or received during the relevant financial year. The information across all six parts is consolidated, providing a comprehensive view of the financial year’s transactions.

Part-1: Basic Registration Details

This section includes basic registration information, such as the fiscal year, GSTIN, legal name, and trade name, which are auto-filled on the GST portal when GSTR-9 is accessed.

Part-2: Details of Outward Supplies

Here, you’ll consolidate details of outward supplies reported in your returns:

• Supplies on which tax is payable (4A to 4L): Covers taxable supplies, exports, SEZ supplies, reverse charge, and advances.
• Supplies on which tax is not payable (5A to 5K): Includes exports, exempt supplies, nil-rated supplies, and non-GST supplies.

Part-3: Input Tax Credit (ITC)

This part is divided into three sections:

• ITC availed (6A to 6O): Breakdown of ITC claimed on various inward supplies.
• ITC reversed and ineligible ITC (7A to 7H): Details of ITC reversed and ineligible ITC.
• Other ITC-related information (8A to 8J): Covers ITC as per GSTR-2A, reclaimed ITC, and additional adjustments.

Part-4: Tax Paid

Summarizes tax paid as reported in the previous year’s returns, including a breakdown of tax payable, payments made in cash, and payments made through ITC.

Part-5: Transactions from the Previous Financial Year

This section covers previous financial year transactions that were reported in returns from April to September of the current financial year.

Part-6: Miscellaneous Details

Provides information on demands, refunds, supplies from composition dealers, an HSN-wise summary of supplies, and any applicable late fees.

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Steps to File GSTR-9

Here are the steps you need to follow to file GSTR-9 -

• Finish filing GSTR-1 and GSTR-3B by the due date.
• Conduct an in-depth ITC reconciliation and sales reconciliation from the beginning of the financial year to the date of filing GSTR-9.
• Identify the gaps upon reconciliation and communicate it with the customers and vendors.
• Make disclosures related to FY 24-25 in the form in the government's offline tool.
• Pay via DRC-03 any short payment of tax or excess ITC claims identified for FY 24-25.
• File the GSTR-9 on the GST portal.

Have a GST-related question or need assistance with filing your GST return? Reach out to our experts for guidance and seamless filing. Book an expert now!

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