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GST Annual Return Filing in Hyderabad

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Renuka M
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2 min read

Businesses registered under the Goods and Services Tax (GST) in India must file annual returns to comply with tax regulations. If you operate in Hyderabad, understanding the GST yearly return filing process is crucial to avoid penalties and maintain compliance.

Who Needs to File GST Annual Return?

All businesses registered under GST, except for composition taxpayers and specific exempt categories, must file an annual return. The key forms for GST annual returns are:

  • GSTR-9: For regular taxpayers.

  • GSTR-9A: For composition scheme taxpayers (now abolished for FY 2019-20 onwards).

  • GSTR-9C: For businesses with an annual turnover exceeding five5 crores, a reconciliation statement is required.

Steps to File GST Annual Return in Hyderabad

  1. Gather Financial Records: Ensure you have invoices, purchase details, and tax payments for the financial year.

  2. Log in to GST Portal: Visit www.gst.gov.in and access your GST account.

  3. Choose the Appropriate Form: Select GSTR-9 or GSTR-9C based on turnover requirements.

  4. Enter Details: Provide sales, purchase, tax paid, and input tax credit (ITC) information.

  5. Verify and Submit: Cross-check data for accuracy before submission.

  6. Make Payment (if applicable): Pay any outstanding tax liability.

  7. File the Return: Submit the form and download the acknowledgement.

Due Date and Late Fees

The due date for filing GSTR-9 is usually 31st December following the financial year. Late filing attracts penalties of ₹200 per day (₹100 under CGST and ₹100 under SGST), subject to a maximum cap.

Why Choose Professional Help?

Hiring a GST consultant in Hyderabad ensures accurate filing, minimises errors, and helps in tax-saving strategies. Professionals can also assist in reconciling discrepancies and handling GST audits.

Conclusion

Filing GST annual returns in Hyderabad is a legal obligation that businesses must fulfil to avoid penalties. By staying updated with GST rules and seeking expert assistance, companies can ensure smooth and hassle-free compliance. Start preparing early to file your GST returns on time!

gst annual return filing in Hyderabad