Under the GST Act, 2017, an Annual Return (GSTR-9) is a comprehensive statement filed by registered taxpayers summarizing all their transactions for a financial year. It acts as a reconciliation of information submitted in monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) and provides additional details and adjustments.
Who needs to file an Annual Return under GST Act 2017?
Every registered taxpayer under GST, except for specific categories, is required to file an annual return. These exceptions include:
- Input Service Distributors (ISD)
- Persons paying tax under Section 51 or 52 (composition scheme)
- Casual taxable persons
- Non-resident taxable persons
What information is included in the Annual Return under GST Act 2017?
The GSTR-9 includes details like:
- Outward and inward supplies made/received during the year
- Taxable value, tax rate, and tax amount for each tax head (CGST, SGST, IGST)
- HSN code of each item
- ITC claimed and reversed
- Reconciliation statements
- Additional information and adjustments
What is the due date for filing the Annual Return under GST Act 2017?
The annual return must be filed electronically on or before the 31st of December following the end of the financial year. For example, the due date for the FY 2023-24 return would be December 31, 2024.
Additional Points:
- Even if your GST registration has been cancelled, you still need to file an annual return for the period you were registered.
- If you have multiple GST registrations, you need to file a separate annual return for each GSTIN.
- Filing an accurate and complete annual return is crucial for complying with GST regulations and avoiding penalties.
Examples
Under the GST Act, 2017, an Annual Return (GSTR-9) is a comprehensive statement filed by registered taxpayers summarizing all their transactions for a financial year. It acts as a reconciliation of information submitted in monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) and provides additional details and adjustments.
Who needs to file an Annual Return under GST Act 2017?
Every registered taxpayer under GST, except for specific categories, is required to file an annual return. These exceptions include:
- Input Service Distributors (ISD)
- Persons paying tax under Section 51 or 52 (composition scheme)
- Casual taxable persons
- Non-resident taxable persons
What information is included in the Annual Return under GST Act 2017?
The GSTR-9 includes details like:
- Outward and inward supplies made/received during the year
- Taxable value, tax rate, and tax amount for each tax head (CGST, SGST, IGST)
- HSN code of each item
- ITC claimed and reversed
- Reconciliation statements
- Additional information and adjustments
What is the due date for filing the Annual Return under GST Act 2017?
The annual return must be filed electronically on or before the 31st of December following the end of the financial year. For example, the due date for the FY 2023-24 return would be December 31, 2024.
Additional Points:
- Even if your GST registration has been cancelled, you still need to file an annual return for the period you were registered.
- If you have multiple GST registrations, you need to file a separate annual return for each GSTIN.
- Filing an accurate and complete annual return is crucial for complying with GST regulations and avoiding penalties.
Examples
Please note: Since the annual return filing for FY 2017-18 was due on December 31, 2018, and the details you provided suggest today’s date is February 24, 2024, I can’t provide a real-time example of an annual return for FY 2017-18. However, I can offer a hypothetical example and highlight some key points to remember:
Hypothetical Scenario under GST Act 2017:
- Business :XYZ Enterprises, a registered taxpayer under GST.
- Financial Year:2017-18 (April 1, 2017 – March 31, 2018).
- Turnover: 5 Crore.
Possible Form Used under GST Act 2017:
- GSTR-9:If the business had a turnover exceeding Rs. 2 Crore.
- GSTR-9A:If the business was registered under the composition scheme.
Key Information Included under GST Act 2017:
- Outward supplies :Details of all sales made during the year, including tax rates and amount.
- Inward supplies :Details of all purchases made during the year, including tax rates, amount, and ITC claimed.
- Taxes paid :Total GST paid during the year.
- ITC availed :Total ITC claimed during the year.
- Reconciliation :Explanation for any discrepancies between GSTR-1 and GSTR-3B data.
- Additional information :Depending on the specific form used, additional details like exports, imports, advances received/paid, etc., might be required.
Important Points:
- Filing annual returns is mandatory for most businesses registered under GST, with exceptions for specific categories and turnover thresholds.
- The due date for filing is usually December 31st of the subsequent financial year.
- Late filing attracts penalties.
- Accurate and complete information is crucial to avoid scrutiny and potential tax demands.
Case laws
- Rakesh Kumar vs Assistant Commissioner (Madras High Court)
- Issue: Cancellation of GST registration for non-filing of returns.
- Ruling: The court directed the petitioner to file an appeal under the TNGST Act before seeking relief as there was no evidence to prove a return was filed.
- M/s. Sri Venkateswara Steels (P) Ltd. vs. The Union of India & Others (Telangana High Court)
- Issue: Applicability of late fees for delayed filing of annual return.
- Ruling: The court upheld the penalty for late filing, highlighting the mandatory nature of annual returns.
- In the Gauhati High Court – Live law
- Issue :Extension of due date for filing annual returns.
- Ruling :The court emphasized the importance of reasonable extensions and highlighted the potential hardship caused by sudden changes in deadlines.
- An Analysis of Court Cases on Belated GST Return Filing
- Overview: Analyzes various court cases on late filing of GST returns, including the consequences of delayed ITC claims.
- GST Annual Returns – Central Board of Indirect Taxes and Customs
- Information: Provides official guidelines on filing annual returns, late fee structures, and exemptions for small taxpayers.
Please note: This is not an exhaustive list, and specific details of each case may vary. It is important to consult with a legal professional for accurate interpretation and advice based on your specific situation.
Here are some additional points to consider:
- The due date for filing an annual return is generally December 31st of the year following the relevant financial year.
- Late fees are applicable for delayed filing.
- There are specific provisions and exemptions for small taxpayers regarding annual returns.
Court rulings can set precedents and influence interpretations of the GST Act