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GST Annual Return (GSTR 9/9A/9B/9C)
All you know about GST Annual Return
Failure to file annual
return shall attract a late fee of INR 200 per day during the period of
failure, subject to a maximum of 0.25% of the said Financial Year's turnover.
Annual Return is for reporting the
summary of the periodic returns filed during a financial year. As the annual
return is last return of the year thus, it assumes special significance.
Generally, all taxpayers are required to file the return with certain
exceptions such as taxpayers who have obtained registration under casual
taxable person or Non-Resident taxable person, Input Service Distributors,
Person liable for deduction of tax at source.
As per the GST Rules, various forms
have been prescribed for the purpose of return, depending upon the categories
of the tax payers:
1) Composition Scheme
Registered under Form 9A
2) E-Commerce Operators
deducting Tax under Form 9B
3) Others where turnover
exceeds Rs 2 Crore under Form 9C
4) Others where turnover is
less than Rs 2 Crore under Form 9
Annual return is required to be filed
on or before due date as prescribed.
Consequence
of Non-Filing