GST Annual Return Filing - VSB Consultants

GST Annual Return Filing Services

At VSB Consultants Pvt Ltd, we offer expert GST annual return filing services, ensuring businesses comply with Goods and Services Tax (GST) regulations in India. Filing the annual GST return is a mandatory requirement for taxpayers, summarizing the total sales, purchases, input tax credit (ITC) claims, and tax liabilities for the financial year. Our professionals ensure timely and accurate filing, helping businesses avoid penalties and maintain seamless tax compliance.

What is GST Annual Return Filing ?

GST annual return filing is a yearly compliance requirement under the GST law that consolidates a business’s entire financial year’s GST transactions, taxes paid, and ITC claims. Registered taxpayers must file an annual return via Form GSTR-9, providing a summary of their GST filings, including GSTR-1 and GSTR-3B.

Filing the GST annual return ensures:

✔ Proper reconciliation of taxes paid and input credits availed.
✔ Compliance with GST laws, reducing risks of audits and penalties.
✔ Clear financial documentation for future assessments.

Who Needs to File GST Annual Returns ?

GST annual return filing is mandatory for:

✔ Regular GST-registered taxpayers under the normal scheme.
✔ Businesses with an annual turnover exceeding ₹2 crore (subject to GST audit requirements).
✔ E-commerce operators registered under GST.
✔ Entities making taxable supplies across India.

However, GST annual returns are NOT required for:

✖ Composition scheme taxpayers (who file GSTR-4 annually instead).
✖ Input Service Distributors (ISD).
✖ Non-resident taxable persons.
✖ Casual taxable persons.

Types of GST Annual Returns & Due Dates

Different GST annual return forms apply based on business category and turnover.

GST Return Type	Applicable to	Due Date
GSTR-9	Regular taxpayers	31st December of the following financial year
GSTR-9A	Composition scheme taxpayers	(No longer applicable since FY 2019-20)
GSTR-9C	Businesses with ₹5 crore+ turnover (requiring GST audit)	31st December of the following financial year

Filing GSTR-9 and GSTR-9C correctly ensures seamless compliance and tax transparency.

Documents Required for GST Annual Return Filing

To ensure error-free GST annual return filing, businesses need the following documents:

📌 GSTIN (GST Identification Number) – A 15-digit unique registration number.
📌 Sales & Purchase Data – Consolidated invoices of outward and inward supplies.
📌 Tax Paid Details – Monthly/quarterly GST payment records.
📌 Input Tax Credit (ITC) Records – ITC claimed against GST-paid purchases.
📌 Reconciled GST Returns (GSTR-1 & GSTR-3B) – To verify tax paid and reported figures.
📌 Financial Statements – Profit & loss statements, balance sheets, and turnover reports.

Process of GST Annual Return Filing

At VSB Consultants Pvt Ltd, we simplify GST return filing through a systematic process:

Step 1: Data Collection & Reconciliation

✔ Gather all GST filings, sales invoices, ITC records, and tax payments.
✔ Verify discrepancies between GSTR-1, GSTR-3B, and actual financials.

Step 2: Preparation of GSTR-9 Form

✔ Categorize outward and inward supplies, tax adjustments, and ITC claims.
✔ Ensure proper classification of transactions under correct GST rates.

Step 3: Filing of GST Annual Return

✔ Complete the GSTR-9 form online with accurate financial details.
✔ Submit the return before the 31st December deadline.

Step 4: GST Audit Filing (For Turnover Above ₹5 Crore)

✔ If turnover exceeds ₹5 crore, file GSTR-9C with a certified audit report.
✔ Ensure proper verification and attestation by a Chartered Accountant (CA).

Step 5: Confirmation & Compliance Review

✔ Receive acknowledgment for return filing.
✔ Review and plan for next year’s GST compliance.

Late filing may attract penalties of ₹100 per day (₹50 CGST + ₹50 SGST) per return, so timely filing is crucial.

Why Choose VSB Consultants ?

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Frequently Asked Questions (FAQs)

+1. What is the deadline for filing GSTR-9 ?

✔ The due date for GST annual return filing is 31st December of the following financial year.
+2. Who needs to file GSTR-9C ?

✔ Businesses with a turnover exceeding ₹5 crore must file GSTR-9C, which includes a GST audit.
+3. Can I revise my GST annual return after filing ?

✔ No, once filed, GSTR-9 cannot be revised, so accuracy is critical.
+4. What happens if I fail to file GSTR-9 ?

✔ Late filing incurs a penalty of ₹100 per day (₹50 CGST + ₹50 SGST), up to 0.25% of turnover.
+5. Is GST annual return mandatory for composition scheme taxpayers ?

✔ No, composition dealers must file GSTR-4 annually instead of GSTR-9.
+6. What details are required for GST annual return filing ?

✔ Sales & purchase invoices, ITC claims, tax paid details, and GST filings (GSTR-1 & GSTR-3B).
+7. Can I file GSTR-9 myself ?

✔ Yes, businesses can file independently, but professional help ensures error-free compliance.
+8. Is digital signature mandatory for GSTR-9 filing ?

✔ Yes, DSC or EVC authentication is required for companies, LLPs, and large taxpayers.
+9. What is the difference between GSTR-9 and GSTR-9C ?

✔ GSTR-9 is the annual summary return, while GSTR-9C is an audit certification for businesses exceeding ₹5 crore turnover.
+10. Can a GST-registered business skip annual return filing ?

✔ No, annual return filing is mandatory for all regular taxpayers under GST.
+11. Do I need to submit a GST audit report for every year ?

✔ Only businesses with a turnover above ₹5 crore must submit a GST audit report.
+12. Can I file GSTR-9 with errors and correct them later ?

✔ No, once filed, corrections cannot be made. Ensure all details are verified before submission.
+13. What if my GSTR-3B filings don’t match my financial statements ?

✔ Our experts assist in reconciliation to avoid penalties.
+14. What are the benefits of timely GSTR-9 filing ?

✔ Avoid penalties, ensure compliance, and maximize ITC claims.
+15. Can I cancel my GST registration without filing GSTR-9 ?

✔ No, pending GSTR-9 filings must be completed before cancellation.