GST Annual Return
GST annual return filing is mandatory for all organization having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file Nil GST return.
Before filing GST annual return the taxpayer must have filed all GSTR-1 or GSTR-3B or GSTR-4 return for the period of April to March. In case there are overdue GST returns for the above-mentioned period, the GST registration holder will not be allowed to file GST annual return.
GST Annual Return Types
- GSTR-9: All GST registered organization are required to file GST annual return in form GSTR-9.
- GSTR-9A:GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A.
- GSTR 9C is applicable who obtain an annual GST audit of their accounts. GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant. GST audit is applicable for person having GST registration with an annual aggregate turnover of above Rs. 2 crores in a particular financial year.
GST RETURN FILLING
Registered organization are required to file 2 monthly returns and 1 annual return, in a year.
Organization have to file the GSTR-3B return every month providing details of sales and purchases made in a month. GSTR-1 return must be filed every month by businesses having an annual revenue of over Rs.1.5 crores/Having less than 1.5 crores of turnover required to file on a quarterly basis.