GST Annual Return Filing in Mumbai: A Simple Guide

What is GST Annual Return Filing?

The GST Annual Return Filing in Mumbai process is crucial for businesses registered under GST. It involves submitting a consolidated summary of their transactions for the financial year, including details of sales, purchases, input tax credit (ITC), and tax paid. This process plays a significant role in the functioning of the GST system.

Who Should File?

• All GST-registered businesses, except composition taxpayers and specific exempted entities, must file an annual return.

• Composition taxpayers file a different return, GSTR-4.

Types of GST Annual Returns

1. GSTR-9 – For regular taxpayers.

2. GSTR-9A – For composition scheme taxpayers (now discontinued).

3. GSTR-9C – For businesses with turnover above ₹5 crores (requiring a reconciliation statement and audit).

Due Date for GST Annual Return Filing

The usual deadline is 31 December of the following financial year. However, the government may grant extensions.

Steps to File GST Annual Return in Mumbai

1. Login to the GST Portal – Visit www.gst.gov.in and sign in with your credentials.

2. Navigate to Annual Returns – Select 'Services' → 'Returns' → 'Annual Return'.

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

4. Fill in the Details – Provide details of turnover, tax paid, ITC claimed, and other financial data.

5. Verify & Submit – Cross-check the information and submit the return.

6. Make Payment (if applicable) – Pay any outstanding tax, if required.

7. Download the Acknowledgment – Save a copy for future reference.

Penalties for Late Filing

Late Fee: ₹200 per day (₹100 under CGST + ₹100 under SGST), subject to a maximum of 0.25% of turnover.

• Interest: 18% per annum on the outstanding tax.

Why File on Time?

Filing on time not only avoids penalties but also ensures compliance with GST laws. It plays a key role in smooth ITC claims and financial planning, thereby positively impacting your business operations.