Under the scheme of GST, there are two types of returns which have to be filed, viz., Periodic and Annual. While periodic returns are filed monthly/quarterly, Annual returns are filed for reporting a summary of the periodic returns filed during a financial year. The periodic returns are required to be filed u/s. 39 of the CGST Act, 2017 read with Rule 61 and Rule 62 of the CGST Rules, 2017, whereas Section 44 of the CGST Act, 2017 read with Rule 80 of the CGST Rules, 2017 mandates the filing of the Annual returns. While period returns are to be filed by every person u/s. 39, the Annual return is required to be filed only by certain taxable persons. The Government has introduced a new set of return forms under GST that will have to be filed for the full year.
1. Annual return
Section 44(1) : Every registered person other than person registered as,
• Input Service Distributor;
• Person liable to deduct TDS u/s. 51;
• Person liable to collect tax at source u/s. 52;
• Casual taxable person; and
• Non-resident taxable person.
Section 44(2) : Every registered person who is required to get his accounts audited in accordance with the provisions of Section 35(5) shall furnish, electronically, the Annual return under section 44(1) along with a copy of the audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement
Due date for filing of Annual return
Due date for filing of Annual return is on or before 31st December, following the end of the financial year to which the said annual returns pertains to. It is pertinent to mention here a taxable person having aggregate turnover of two crore rupees shall file the return and get the accounts duly audited as specified under Section 35(5) of the CGST Act. In respect of the financial year 2017-18, the annual return has to be filed before 31st December, 2018.
2. Annual return Forms
As per the GST Rules, various forms have been prescribed for the purpose of return, depending upon the categories of the taxable person, which are as follows:
|Notification No./Date||Category of taxable person||Return Form|
39/2018-Central Tax dated
|Every taxable person (other than those covered in the exclusion list)||GSTR 9|
39/2018-Central Tax dated
|Person paying tax under composition scheme u/s. 10 of CGST Act, 2017||GSTR 9A|
|(To be Notified)||
Every electronic commerce operator required to collect tax at source
u/s. 52(5) of CGST Act, 2017
|49/2018 – Central Tax dated 13-9-2018.||Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified u/s 35(5) of CGST Act, 2017||GSTR 9C|
3. Consequences of non-filing/late filing of Annual return :
As per Section 47(2), any registered person who fails to furnish the return required under section 44 by the due date shall be liable to pay a late fee of ₹ 200 per day (₹ 100 CGST and ₹ 100 SGST) of delay or 0.25% of the turnover in the State or Union Territory, whichever is lower.
Section 2(112) – “turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis) and exempt supplies made within a State or Union territory by a taxable person, exports of goods or services or both and inter-State supplies of goods or services or both made from the State or Union territory by the said taxable person but excludes central tax, State tax, Union territory tax, integrated tax and cess.