Everything You Need to Know about GST Annual Return Filing
.jpg)
Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced multiple indirect taxes in India. Every registered person under GST is required to file an annual return in addition to regular monthly or quarterly returns. In this article, we will provide you with everything you need to know about GST annual return filing. What is GST Annual Return? GST Annual Return is a return that every registered person under GST must file annually. It includes details of all transactions made during the financial year such as sales, purchases, input tax credit, and output tax liability. The GST Annual Return is filed in form GSTR-9. Who Needs to File GST Annual Return? Every registered person under GST who has a turnover of more than Rs. 2 crores in a financial year is required to file the GST Annual Return. It is mandatory for all taxpayers except those who have opted for the Composition Scheme, Input Service Distributor (ISD), Non-Resident Taxable Person, or Casual Taxable Person....