GST Returns
GSTR-9 and GSTR-9C: a working method for the annual return
The annual return is not a fresh filing. It is a reconciliation of three sets of numbers you already have…
The regular returns
GSTR-1 reports outward supplies invoice by invoice. GSTR-3B is the summary return in which tax is actually paid. GSTR-2B is not filed by you at all — it is a static statement of the credit available to you, generated from suppliers' filings.
The annual returns #
GSTR-9 is the annual return, consolidating the year. GSTR-9C is a reconciliation between the annual return and the audited financial statements, required above the prescribed turnover. Both are due after the financial year ends and both are compared against your monthly filings by the system.
Special cases #
Composition dealers file CMP-08 and GSTR-4. E-commerce operators file GSTR-8 for tax collected at source. Input service distributors file GSTR-6. A business that is dormant still has to file nil returns to stay compliant.
What you will need
- Period-wise summary of outward and inward supplies
- Turnover reconciliation with the books
- HSN summary for the year
- Details of credit reversed and reclaimed
- Audited financial statements, for GSTR-9C
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GST Returns
GSTR-9 and GSTR-9C: a working method for the annual return
The annual return is not a fresh filing. It is a reconciliation of three sets of numbers you already have…