GST Annual Return Filing Services in India

GST Annual Return Filing Services in India



Taxpayers registered under GST are required to file annual returns. These include composition taxpayers, regular taxpayers and e-commerce operators. The GSTR-9 form contains information on the supplies made and received during a given financial year under different tax heads - CGST, SGST and IGST.

Filing of GST Annual Return is a time consuming activity and is mandatory for all the registered taxpayers under the Indian GST regime. Hence, it is essential for every company to hire a dedicated team of professional tax professionals that can help in filing these returns at the earliest and also in preparing all related documents required by the authorities.

It is advisable for the businesses to prepare and file their GST annual return in a timely manner as per the due date prescribed by the government. If the same is not done, it can lead to penalties and interest.

The GST annual return is a consolidated document which details the sales and purchases of goods and services, along with their turnover and audit. The information sought from the return is split into various tables and some of these get auto-populated by returns already filed, while others need to be filled in.

There are some glitches in the filing of GST annual return which have been reported by many small and medium enterprises. For example, some businesses have faced issues while filling in the credit availed for import of goods between July 2017 and March 2019.

It is advisable to check all the details pertaining to the sales and purchase of the products and services before filing the annual return. This will save the taxpayer from any possible penalties and interest.

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