kanakkupillai

GST Annual Return Filing in Kolkata: A Simple Guide

Renuka M's photo
Renuka M
·

2 min read

Introduction

Goods and Services Tax (GST) annual return filing is a mandatory process for businesses registered under GST in India. In Kolkata, companies must file their GST annual returns to ensure compliance and avoid penalties. This guide explains the basics of GST yearly return filing and how to do it efficiently.

What is GST Annual Return?

The GST annual return is a summary of a business's GST transactions for a financial year. It includes details of sales, purchases, input tax credit (ITC), and tax paid. The main types of GST annual returns are:

  1. GSTR-9 – For regular taxpayers under the standard GST scheme.

  2. GSTR-9A – For businesses under the Composition Scheme (not applicable from FY 2019-20).

  3. GSTR-9C – For companies with a turnover above ₹5 crore, requiring an audit report.

Who Needs to File GST Annual Return?

All GST-registered businesses in Kolkata must file their annual returns, except:

  • Small businesses with a yearly turnover below ₹ two crore (optional filing).

  • Input Service Distributors (ISD), Casual Taxable Persons, and Non-Resident Taxable Persons.

Steps to File GST Annual Return in Kolkata

  1. Login to the GST Portal – Visit www.gst.gov.in and log in.

  2. Select the Relevant Form – Choose GSTR-9 or GSTR-9C, based on your business type.

  3. Enter Details – Provide transaction details, including tax paid, ITC claimed, and turnover.

  4. Verify and Submit – Review all information before submitting the return.

  5. Pay Any Pending Tax – If additional tax is due, pay through the GST portal.

  6. File the Return – Use a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC) to complete filing.

Due Date and Penalty

  • The due date for GST annual return filing is December 31 of the following financial year.

  • Late filing attracts a penalty of ₹200 per day (₹100 for CGST + ₹100 for SGST), subject to a maximum of 0.25% of turnover.

Why Choose a Professional Service?

Filing GST annual returns can be complex, especially for businesses with high transactions. Professional GST consultants in Kolkata can help ensure accurate filing, avoid penalties, and maximise ITC benefits.

Conclusion

GST annual return filing is essential for businesses in Kolkata to remain GST-compliant. Understanding the process and deadlines can help companies to file their returns smoothly. If you need expert assistance, consider hiring a GST consultant to handle the filing efficiently.

gst annual return filing in Kolkata