Goods & Service Tax

GST ANNUAL RETURN: 

ABOUT: GST Annual return is a consolidation of periodical returns and reconciliation with books of accounts. GST Annual Return is to be filed by all registered taxpayers including composition taxpayers.(Sec44(1)&(2)).

A Registered Person who has got his Registration canceled during the year, is also required to file the Respective Annual Return.

A Registered Person who has opted in or opted out of the Composition Scheme is required to file both GSTR 9 & GSTR 9A for the relevant periods.

A Registered Person having No Transactions shall file, “NIL Annual Return”.

The Registered Person must file all GSTR-1, GSTR-3B, or GSTR 4 returns. In case of over-dues, the GSTR registration holder will not be allowed to file an annual GST annual return. The GSTR -9 seeks detail for disclosure of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax. Apart from it, on the purchase side, the annual value of inward supplies and ITC availed thereon is to be disclosed. these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that need to be reversed due to ineligibility are to be entered. 

Different Kinds of Annual Return under GST: 

• GSTR-9 Annual Return Form: The regular taxpayer who submits 1 and 3B forms needs to file the GSTR-9. 

• GSTR-9A: The composition scheme holder under GST, need to submit GSTR-9A. 

• GSTR-9B: All the e-commerce operators who file GSTR 8, need to file GSTR-9B in a financial year. 

• GSTR-9C: The taxpayers doing business with an annual turnover, more than Rs. 2 crores are required to file GSTR-9C in a financial year. All those taxpayers are needed to obtain the accounts to be audited and furnish a copy of the reconciliation statement of tax already paid, audited annual accounts, and tax payable according to the audited accounts with GSTR-9C. 

GSTR-9 filed by: 

All the registered regular taxpayers need to file the required Annual Return form under the GST regime except below list: 

• Taxpayers opting composition scheme 

• Casual Taxable Person 

• Non-resident taxable persons 

• Persons paying TDS 

• Input service distributors 

Penalty Provision for Late Filing of Return: 

As per the GST Law, the late fee is Rs.100 for each day for each Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) Thus, the total fine amount will be Rs.200 per day. However, this rate is subject to changes that will be announced through notifications. it is to be noted that the total penalty cannot exceed 0.25% of the total turnover on which the said penalty is being levied. 

## There may be complex things that occur during the registration process which is a time-consuming and lengthy process. The legal language of these forms is complex in nature. The government Portal and its functionality are in itself quite challenging. The support of professionals and experts can save your precious business time. Our COMPLIANCE expert, having expertise in all such kinds of matters, will resolve all problems pertaining to registration & compliances and will save your precious time and Money. 

Working Process: 

>Choose your Plan and Pay Securely. 

> Upload required document 

> An expert will be assigned to you for the procedure of submission of the application. 

> Our Expert will complete the process required for your work along with the necessary assistance over a call during business hours. 

BASIC PLAN: 

Assistance in GST Annual Return for Tax Payers registered under GST scheme. 

GST Annual Return, 

Service Fees: 4999/- excluding government Fees. 

STANDARD PLAN: 

Assistance in GST Annual Return for Regular Tax Payers without GST Audit. 

GST Annual Return, 

Service Fees: 7999/- excluding government Fees. 

ACE PLAN: 

Assistance in GST Annual Return for Regular Tax Payers with GST Audit. 

GST Annual Return, 

Service Fees: 9999/- excluding government Fees. 

Law Compliances can help you in obtaining of GST Annual Return in 4-7working days.

** ** Time taken for Incorporation/ Registration will depend on the submission of the relevant documents by the client and also approval from the CONCERNED Government authorities. 

FREQUENTLY ASKED QUESTIONS (FAQ):

 When is the due date for filing GSTR 9? 

According to the latest update, the due date is further extended by CBIC via GST Notification 04/2021 | CBIC extends the due date of GSTR 9 & 9C for FY 2019-20 to 31st March 2021.

If the taxpayer opts for the composition scheme is she /he required to file GSTR 9? 

Every taxpayer who has opted out of the composition scheme during the financial year is required to furnish GSTR 9 for the period for which he has been a regular taxpayer. ***