GST annual return filing is compulsory during the return filing period for all entities having GST registration, irrespective of market operation or revenue, or profitability. Consequently, even a dormant company that has obtained GST registration will file a GST return.
Types of GST Annual Return:
All entities having GST registration are required to file GST annual returns in form GSTR-9.
GST registered taxpayers who have opted for the GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A.
Form GSTR 9C is meant for filing the reconciliation statement of taxpayers about a particular financial year. The form is a statement of reconciliation between the Annual Returns in GSTR-9 and the figures mentioned in the Audited Financial Statements of the taxpayer.
GSTR 9C applies to taxpayers who are eligible to have their accounts audited annually by GST. GSTR-9C shall be prepared and certified by a Chartered Cost Accountant. GST audit refers to individuals with GST registration in a given financial year with an annual gross turnover of Rs . 2 crores above.