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GST annual return deadline is December 31: Why should you file it even if not liable to file one
GST annual return: The deadline to file GST annual return is December 31, 2024. There is a good argument as to why you should file GST annual return despite the turnover being below Rs 2 crore. Experts say filing an annual return helps with the reconciliation process and will help you if you ever receive any GST notice.
Every Goods and Services Tax (GST) registered person needs to file GST annual return using GSTR-9 form on or before December 31, 2024, for FY 2023-24. However, for FY 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24 it is optional for taxpayers to file GSTR-9 (annual return) if their annual turnover is less than Rs 2 crore.
GST annual return is filed using GSTR-9, GSTR-9C or GSTR-9A form
There are different GST annual return forms based on the type and turnover of the GST registered business. GSTR-9 is filed by those who have acquired or held a GST registration at any point during the relevant financial year and are required to submit an annual GST return.
Taxpayers who have opted for the composition scheme under GST must use the GSTR-9A form for filing an annual return. If an GST registered person's annual turnover is more than Rs 5 crore then they need to file GSTR-9C along with GSTR-9 (annual return). GSTR-9C is an annual reconciliation statement.
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