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What is Annual Return?
It is a yearly return which is to be filed by all taxpayers
Every business which is registered under GST (Whether Regular or Composition) has to fill this Annual Return
What are Different Annual Return Forms?
| GST Form No | It is to be filed by |
| GSTR 9 | Regular taxpayer who has filed GSTR 3B & GSTR 1 during financial year. |
| GSTR 9A | Composition taxpayer who has filed GSTR 4 during financial year. |
| GSTR 9B | E-commerce operator who has filed GSTR 8 during financial year. |
| GSTR 9C | It is an additional form, which is to be filed by taxpayer whose turnover exceed 2 crore during financial year.They have to get their accounts audited and CA/CMA has to file this form |
Note:- In case of regular tax payer, there are 2 cases
| Case | Form to be filled |
| Turnover upto 2 Crores | GSTR 9 |
| Turnover Over 2 Crores | GSTR 9 + GSTR9C |
For calculating turnover exceeding Rs.2 crore financial year from 1 April 2017 to 31 March 2018 will be considered
Example
In FY 2017-18,person has turnover as below
| Period | Tax Applicable | Turnover |
| Apr-June | VAT | 30 Lac |
| July-Mar | GST | 1.9 Crore |
| Total | 2.2 Crore |
Whether Form 9C is to be filled or not?
Answer
Since Total Turnover is more than 2 crores, he has to Fill Form 9C also
Hence he has to file 2 forms :
GSTR Form 9 + GSTR Form 9C
What is Due Date of Filling Annual Returns?
FY 2017-18 -
31 Dec 2018
31st August 2019
30 November 2019
31
December 2019
FY 2018-19 - 31 Dec 2019 31 March 2020
What is Requirement for Audit under Income Tax Act and Under GST Act?
For GST Act
Audit is compulsory when total turnover for particular financial year exceed 2 crore.
This audit can be conducted by CA/CMA
Income Tax
For Companies
- Audit is always compulsory
- Audit is done by CA (not CMA)
For Proprietorship & Partnership
Audit is required compulsory when turnover exceeds 2 crore.
(Limit is 2 crores for business and 50 lacs for professionals)
Comparison
| Type of Business | Turnover in lacs | Audit Under Income Tax | Audit Under GST | Annual Form to be filled |
| Proprietorship | 30 | NO | NO | GSTR 9 |
| Partnership | 30 | NO | NO | GSTR 9 |
| Company | 30 | YES | NO | GSTR 9 |
| Proprietorship | 300 | YES | YES | GSTR 9 + GSTR 9 C |
| Partnership | 300 | YES | YES | GSTR 9 + GSTR 9 C |
| Company | 300 | YES | YES | GSTR 9 + GSTR 9 C |
**Note:- To prepare and file form GSTR 9C, filing of GSTR 9 is mandatory.
If GST Number Cancelled, Do We need to Fill Annual Return
If GST number has been cancelled or surrendered by the taxpayer, they have to filed GSTR 10 (Final Return) & GSTR 9 (Annual Return) both.
Changes In GST (37th GST Council meeting held in Goa)
Annual return GSTR 9 is to be made optional, if turnover upto 2 Crore for F.Y. 2017-18 & 2018-19.
However, if turnover more than 2 crore then both GSTR 9 and GSTR 9C is to be filed
