GST Annual Return
GSTR 9 is an annual GST return that taxpayers must file under the GST system. This statement consolidates details of outgoing and incoming supplies for the relevant fiscal year. Covering CGST, SGST, and IGST, GSTR 9 acts as a comprehensive summary of all periodic GST returns submitted. Ensuring accurate filing of GSTR 9 is crucial for tax compliance and business compliance.
GST Annual Return
Prior to submitting GSTR 9, taxpayers should ensure they've completed all GSTR-1, GSTR-3B, or GSTR 4 submissions. If there are outstanding dues, individuals with GSTR registration won't have the privilege to submit their annual GST return
The GSTR-9 or annual GST return should be submitted by taxpayers by December 31st. Individuals such as non-resident taxable persons, casual taxable persons, TDS deductors, and TCS collectors enrolled under the GST Composition scheme can skip filing GSTR-9 if their annual turnover surpasses Rs. 2 crore. Nevertheless, in such cases, taxpayers must have their returns audited by a Chartered Accountant or Cost Accountant
