Who should file GST Annual Return?
GST Annual Return is to be filed once in a year by the registered taxpayers including those who registered under composition levy. It consists of details regarding the supplies made and received during the year (i.e. IGST, CGST and SGST). It consolidates the information furnished in the monthly / quarterly returns during the year.
Who should file GST Annual Return?
All the registered taxable persons under GST must file GST Annual Return. However, the following persons are not required to file:
a) Non-resident taxable personsb) Casual (occasional) taxable personsc) Input service distributorsd) Persons paying Tax (TDS) under Section 51
Types of GST Annual Returns:
Due date of GST Annual Return:
GST Annual return is required to be furnished on / before 31st December of the subsequentfinancial year For Financial year 2017-18, due date of annual return is 31st December 2018
Penalty for the late filing of GST Annual Return:
Late fees for not filing the GSTR 9 within the due date is Rs.100 per day up to a maximum 0.25% of the turnover in the state or union territory. (i.e.,Rs.100 under CGST & Rs.100 under SGST, the total penalty is Rs. 200 per day).
Details required in GST Annual Return:
Author
GST Demands and refunds HSN wise summary of the quantity of goods supplied and received with corresponding tax details Late fees payable / paid details Segregation of inward supplies received from different categories of taxpayers like composition dealers, deemed supply and goods supplied on approval basis.
Name – CA J.JAYAPRAKASHEmail – jayaprakashj@icai.org
