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GST Annual Returns Due by Dec 31, 2018
What is a GST Annual Return?
GST returns comprises of two types of return – periodic and annual returns. Periodic returns are monthly or quarterly returns for reporting transactions during the month or quarter, while annual return is for reporting the summary of the periodic returns filed during a financial year. As the annual return is last return of the year, it assumes special significance.
Who should file GSTR-9?
All the registered taxable persons under GST must file GSTR 9 even if they have filed nail returns during the year. However, following persons are not required to file GSTR 9.
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDS under section 51 of GST Act.
What are the types of GST Annual Returns (GSTR9)?
Category of tax payer | Return (GSTR) Form |
| Composition scheme registered | 9A |
| E-com Operator deduction tax | 9B |
| Others where turnover (for all States put together) exceeds INR 2 Crore | 9C |
| Others where turnover is less than INR 2 Crore | 9 |
What is the due date for filing Annual Returns?
Annual return is required to be filed on or before Dec 31, 2018. For example for the financial year 2017-18 (transactions undertaken during July 17 to Mach 18), the last date for filing is December 31, 2018.
What is the consequence of non-filing the return?
Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, total penalty is Rs 200 per day of default. There is no late fee on IGST.
Please contact our office for any assistance on this matter
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