GST Annual Return is a comprehensive document that registered taxpayers are required to file under the Goods and Services Tax (GST) regime. It provides a summary of all the transactions, including sales, purchases, input tax credit (ITC) availed, and output tax liabilities, made by a taxpayer during the financial year. The purpose of filing the GST Annual Return is to ensure compliance with GST laws and regulations, provide transparency in business transactions, and facilitate the reconciliation of tax liabilities and ITC claimed.

The most commonly used returns are following. Let’s discuss them:

GSTR-9 is the annual return which is required to be filed once in a financial year by the regular taxpayers. It also includes information about any amendments made to the GST returns filed for the corresponding period.

This return is to be filed by a person who is registered as a regular taxpayer and taxpayer who has withdrawn from composition scheme to regular taxpayers. For the assessee having turnover more than Rs. 2 crores during the financial year, they are required to get their accounts audited by CA and CWA. And file return in the form GSTR-9C.

• The due date for filing this return is 31st December of the subsequent financial year.

It is also an annual return form available to the taxpayer opted for composition scheme. This return is specifically designed for taxpayers registered under the composition scheme. It summarizes the details of quarterly returns filed during the financial year, including turnover, tax liability, and taxes paid under the composition scheme.

GSTR 9A is required to be filed by all taxpayers who opted for composition scheme, for any period during the financial year, and includes:

• 1. Who are registered under composition scheme from the start and never opted out in the subsequent year.
• 2. Who opted for composition scheme at any time during the financial year.
• 3. Who opted for composition scheme but opted out in the subsequent year.

• Form GSTR-9A is to be filed within the due date as specified as 31st December of next financial year.

GSTR-9C is a reconciliation statement and certification required for taxpayers whose annual turnover exceeds a specified threshold, currently set at ₹2 crores. It involves reconciliation of the financial data provided in GSTR-9 with the audited financial statements of the taxpayer. GSTR-9C must be certified by a Chartered Accountant or Cost Accountant.

GSTR-9C is required to be filed by taxpayers whose annual turnover exceeds a specified threshold, currently set at ₹2 crores. This includes businesses, individuals, partnerships, companies, and other entities that are registered under the Goods and Services Tax (GST) regime and meet the turnover criteria.

• As of the last update, the due date for filing GSTR-9C, which is the reconciliation statement and certification, is typically on or before the 31st of December following the end of the relevant financial year.

As of the last update, the late fees for filing GSTR-9, GSTR-9A, and GSTR-9C are Rs. 100 per day (Rs. 100 under CGST Act and Rs. 100 under SGST Act, totaling Rs. 200 per day) subject to a maximum of Rs. 5,000 for GSTR-9 and GSTR-9A, while for GSTR-9C, it's Rs. 100 per day under each CGST and SGST Act (totaling Rs. 200 per day), capped at 0.25% of the taxpayer's turnover in the respective state or union territory. These late fees are applicable in case of failure to file the respective GST annual returns by the due date.