GST Annual Return deadline is approaching ! To avoid penalties, file your returns by Dec 31st 2022
The GST annual return is a statement of return that is required to be filed annually by each registered person (except for a few specified categories of persons) under GST, providing
Summarised details of outward supplies and taxes paid thereon
Input tax credits claimed
Taxes paid, and
Refund claimed in the fiscal year in which such annual return is filed.
Who should file GSTR-9, the Annual Return ?
All the assesses enrolled below GST must file their GSTR 9. Although the mentioned below items are not needed to file the GSTR-9:
Taxpayers opting for composition scheme (They must file GSTR-9A)
Casual Taxable Person
Input service distributors
Non-resident taxable persons
Persons paying TDS under section 51 of the CGST Act.
Applicability
Sales | GSTR 9 | GSTR 9C |
Up to 2 Cr | Optional | N/A |
More than 2Cr. – 5 Cr | Filing is mandatory | Optional |
More than 5Cr | Filing is mandatory | Filing is mandatory |
Due Date for Filing GST Annual Return Forms
The due dates of the GSTR 9 annual return form for the
Financial Year 2021-22 – 31st December 2022
Financial Year 2020-21 (Revised) – 28th February 2022
Financial Year 2019-20 (Revised) – 31st March 2021
Penalty for not filing the GST Annual Returns
As per the penalty provisions of the GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty of which Rs. 100 consists of SGST and Rs. 100 for CGST. Also, it is to be noted that the total penalty cannot exceed 0.25% of the total turnover on which the said penalty is being levied.
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