Understanding the GST Annual Return Filing Process

Posted In | Finance | Accounting Software | India Accounting Tax

The GST (Goods and Services Tax) Annual Return, otherwise known as GSTR-9, is a document that every registered business under the GST law must submit. It is a comprehensive form that consolidates all the monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filled by the taxpayers throughout the year. Here is a simple guide to understanding the GST annual return filing process.
 

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Who Should File GST Annual Return?

Every registered taxpayer under GST, regardless of their business turnover, should file the GSTR-9 form. However, there are exceptions. Casual taxable persons, non-resident taxable persons, Input service distributors (ISD), and businesses that pay TDS under section 51 of the GST Act are exempt from filing the GST annual return.
 

Steps to File GST Annual Return
 

1. Login to the GST Portal

To begin the process, you first need to login to the GST portal using your credentials. Once you're logged in, navigate to the 'Services' tab, select 'Returns', and then 'Annual Return'.
 

2. Select the Financial Year

Next, you need to select the financial year for which you're filing the return. Once you've selected the financial year, click on the 'Search' button.
 

3. Prepare Online

Click on the 'Prepare Online' option. If there are any pending tasks, complete them before moving forward.
 

4. Enter the Required Details

Fill in the required details in the form. The form is divided into several parts, each requiring specific information about your business transactions throughout the year.
 

5. Preview Form

Once you've filled in all the details, preview the form to ensure there are no errors. It's crucial to double-check all the information before submitting the form.
 

6. Compute Liabilities and Pay Late Fees

If there are any liabilities, they will be auto-populated in this section. Any late fees will also be displayed here, which you can pay online.
 

7. File the Return

After you've checked everything, click on the 'File GSTR-9' button. You'll be asked to confirm your action. Once you've confirmed, your GSTR-9 will be successfully filed.
 

Filing the GST annual return is a crucial part of maintaining compliance with the GST law. Understanding the process can help ensure that you complete this process accurately and on time. If you have any doubts or concerns, consider seeking professional advice to ensure everything is in order.