TIPS FOR ANNUAL RETURN

1. Nil Annual Return- A person registered under GST but having no transactions during the year is also required to file a Nil Annual Return. A person whose registration has been cancelled during the year is also required to file the Annual returns unless final return has been filed and cancellation completed before 31st March, 2018.

2. A Registered person who has opted in or opted out of composition is required to file both GSTR 9 & GSTR 9A for the relevant periods.

3. GSTR-9 does not allow for any revision after filing.

4. It is mandatory to file FORM GSTR-1 and FORM GSTR-3B for the FY 2017-18 before filing this return.

5. The exceptions to filing of the Annual return applies to the following category of registered persons: i) Input Service Distributor; ii) Tax deductor u/s 51; iii) Tax collector u/s 52; iv) Casual Taxable Person; v) Non-Resident Taxable Person; vi) any department of the Central Government or a State Government or a local authority, whose books of account are subject to audit by the Comptroller and Auditor-General of India or an auditor appointed for auditing the accounts of local authorities under any law for the time being in force.

6. The declaration of the information in the Annual returns has multiple implications. Any incorrect information can attract tax demands, interest and penalties on the same.

7. Liability identified during filing Annual Return can be deposited with Government using DRC-03 Form.