Compiling year-round data is time-consuming
For annual GST filing, businesses need to compile data from the entire financial year and then make sense of all those spreadsheets–all of which can be time-consuming and prone to error.
Filing mistakes can lead to big penalties
Even the smallest mistakes while filing taxes can lead to high-interest penalties of 18. Continuous penalties can cause businesses to receive GST notices and further complicate things.
Last chance to correct unidentified errors in monthly returns
When you file your annual returns, it is your last chance to correct any errors in your previous monthly returns. And it is your last chance to prove your business is 100% GST compliant.
GSTManager’s team includes tax professionals, financial advisors, and chartered accountants who have years of experience handling GST processes for businesses across different industries. Coupled with our powerful platform that significantly improves visibility and efficiency, we help your business thrive in the constantly changing market.
What is the annual return in GST?
The annual return in GST is a comprehensive summary of a taxpayer's business activities for a particular financial year, including details of outward and inward supplies, input tax credit, taxes paid, HSN summary, and refunds claimed.
How to file GST nil annual return?
The deadline for filing GST annual return (GSTR-9) varies depending on factors such as GST annual return turnover limit and government notifications. In general the due date of filing annual returns is 31st December of the following financial year. (subject to government notification).
Who is required to file GSTR 9 and 9c?
Businesses with an annual turnover of more than 5 crore are required to file GSTR 9 and 9C
Is filing GST annual return compulsory?
Yes filing annual GST returns is compulsory for businesses with an annual turnover of more than 2 crore.