• Notification Date: 31-12-2022
• Notification No: N/A

Deadline to file GST Annual Return to end on Dec 31 — Learn about Required Forms, Penalty for Late Filing

The deadline for Goods and Services Tax (GST) annual return filing will end on December 31, 2022. As per Rule 80 of the Central Goods and Services Tax (CGST) Rules, 2017, every registered person liable to file an annual return for every financial year must file the same on or before December 31 of the next financial year. Accordingly, the last date for filing an annual return for FY 2021-22 is December 31, 2022. 

All entities having GST registration are required to file GST annual returns. The business activity or sales or profitability of the company during the return filing period is not a matter of concern. The GST annual return forms, GSTR-9 and GSTR-9C, are available on the portal for filing. 

The following are NOT required to file GSTR 9: 

1. Taxpayers opting for composition scheme (They must file GSTR-9A) 

2. Casual Taxable Person 

3. Input service distributors 

4. Non-resident taxable persons 

5. Persons paying TDS under section 51 of the CGST Act. 

What is Form GSTR-9? 

Form GSTR-9 is an annual return to be filed once for each financial year by the registered taxpayers who were regular taxpayers, including Special Economic Zone (SEZ) units and SEZ developers. The taxpayers must submit the details of purchases, sales, input tax credit or refund claimed or demand created etc., in this return. 

What is the difference between Form GSTR-9 and Form GSTR-9C? 

Every person registered as a normal taxpayer is required to file form GSTR-9. Form GSTR-9C must be filed by every registered person whose aggregate turnover is above a certain threshold during the financial year, as notified by way of Notifications issued by the Government of India from time to time. These taxpayers are required to get their accounts audited by a Chartered Accountant or Cost Accountant and need to submit a copy of audited annual accounts and reconciliation statements. It is mandatory to file Form GSTR-9 for normal taxpayers. 

What are the details required to be filled in the GSTR-9? 

GSTR-9 is divided into 6 parts and 19 sections. Each part asks for details that are available from previously filed returns and books of accounts. It asks for disclosure of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax.  

On the purchase side, the annual value of inward supplies and ITC availed needs to be revealed. These purchases must be classified as inputs, input services, and capital goods. Details of ITC that need to be reversed due to ineligibility are to be mentioned. 

What is the penalty for not filing GST annual return? 

The late fee for not filing GSTR 9 within the due date is Rs 100 per day as per the Act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default. This is subject to a maximum of 0.25 percent of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee charged on IGST yet.