12 Key Points about GST Annual Return

By | December 1, 2018
(Last Updated On: December 1, 2018)

12 Key Points about GST Annual Return

Key Point -1

The GST Annual return is not required to be filed by following person

  • Input Service Distributor,
  • person paying TDS under section 51
  • e-commerce operator paying TCS under section 52,
  • casual taxable person and
  • Non-resident taxable person.

Note : Every e-commerce operator required to collect tax at source under section 52 of CGST Act shall furnish annual statement in form GSTR-9B – Rule 80(2) of CGST and SGST Rules, 2017. Provisions relating to TCS are notified and made effective from 1-10-2018. Hence, there will be no return in form GSTR-9B for 2017-18. 

Key Point -2

If a taxpayer  is registered under GST then he shall be required to file GSTR-9 even though he was having Nil Turnover during the year .

Key Point -3

If a taxable person having same PAN (Permanent Account Number ) has multiple GSTIN, separate annual return in GSTR-9 and separate annual audit report in form GSTR-9C is required for each GSTIN.

Thus, the Annual Financial Statement of a taxable has to be first split into separate statement for each GSTIN.

Key Point -4

If a taxable entity having multiple GSTIN has aggregate turnover exceeds Rs. two crores, as per its Annual Financial Statement, separate reconciliation statement and Audit Report is required from each branch/division/factory even if aggregate turnover of such branch/division/factory is less than Rs. two crores per annum.

Key Point -5

If a taxable person has failed to disclose turnover or claim Input Tax Credit in GST monthly returns (GSTR3B/GSTR 4) of previous year, then it he can not make correction of these mistakes while filing GST Annual return.

Such disclosure/rectification  is required to be made in GSTR-3B and GSTR-1 returns filed during the period April to September of next Financial year. 

Key Point -6

There is no provision in GSTR-9 or GSTR-9A Annual Return forms to add any comment, explanation, declaration or clarification

Key Point -7

Late fee will be payable if annual return is filed after the due date.

As per section 47(2) of CGST Act, Late fee for belated filing of GSTR-9 is Rs.100 per day subject to maximum of 0.25% of turnover in a state/UT. Similar provision is there in SGST Act also. Hence, in total there will be late fee of Rs.200 per day subject to 0.50% of turnover in a state on late filing of GSTR-9.

Key Point -8

Even if GST registration is cancelled during the year, Taxpayer is required to file Annual return for the period he was registered under GST Act .

Key Point -9

GST Annual Return in GSTR 9 require ITC to be bifurcated into Input, Input service and capital goods 

Note : GSTR 3B filed monthly has  not required such bifurcation.

Key Point -10

GSTR-9 requires  to report details of HSN wise summary of inward supplies

Key Point -11

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

Key Point -12

GSTR-9 can not be revised

Refer ” Detailed Video on GST Annual Return

In this Video you will get answer of following Questions :-

Who is required to file GST Annual return ?

What is the format and procedure for filing GST Annual return ?

What is the due date to file Annual return under GST ?

One thought on “12 Key Points about GST Annual Return

  1. karthick nagarajan

    Dear sir,
    please rectify my comments
    1. A dealer has continues two business in the same pan under a single gst registration upto november 2017, after wards obtain a seperate gst registration. here the turnover for the both business is filed upto november, thereafter filed in the respective login.
    my question is at the time of filing annual return how can i file both the business in the annual return
    either by
    a) file both the turnover upto november 2017 in old RC or
    b) file respective turnover in respective registration right from april 2017

    2. A dealer has less than 1 crore of turnover, not required to get audit under gst act.
    how can i rectify the mistakes in my return for the period from july 2017 to march 2018, since GSTR 9C not applicable for me.

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