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FAQ

Frequently Asked Question

Is the GST annual return mandatory?

Yes, for businesses with a turnover of over Rs. 2 crore. It is a comprehensive return that includes details of all sales, purchases, and taxes paid throughout the year. Additionally, it helps ensure compliance with GST regulations and enables the government to track tax evasion.

How do I file an annual return with GST?

A business registered under GST in India is required to file an annual return. The annual return should include details of all sales, purchases, and input tax credit claimed during the financial year.

What is the gst annual return due date?

The due date for filing the annual return in GST is December 31st of the following financial year. It is important to note that failure to file the annual return can result in penalties and interest charges.

Who is required to file Gstr 9 and 9C?

All registered taxpayers under GST are required to file GSTR 9, which is the annual return. However, GSTR 9C, which is the reconciliation statement, must be filed by taxpayers with an annual turnover exceeding Rs. 2 crores. It is advisable for taxpayers to file these returns on time to avoid any legal consequences.

What is GST annual return?

The GST annual returns is a document that summarizes the details of all sales, purchases, and tax paid or collected by a registered taxpayer during a financial year. It is mandatory for all businesses with an annual turnover of over Rs. 20 lakhs to file their GST annual return.

Who should file the GST annual return?

All registered taxpayers with an annual turnover of over Rs. 20 lakhs are required to file their GST annual return, including those who have not made any sales or purchases during the financial year. Failure to file the return can result gst annual return late fee and legal consequences.