Gst Annual Return Filing In Noida: A Simple Guide
- - Category: Business Opportunities
- - 20 Feb, 2025
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If you are a business owner in Noida registered under GST, filing your GST annual return is a crucial compliance require
If you are a business owner in Noida registered under GST, filing your GST annual return is a crucial compliance requirement. This article will help you understand the basics of GST annual return filing in Noida, its due dates, and the process.
What is GST Annual Return?
GST annual return (GSTR-9) is a yearly summary of all GST transactions that businesses must file. It includes details of:
- Sales and purchases
- Input tax credit (ITC) claimed
- Taxes paid during the financial year
Who Needs to File GST Annual Return?
All regular taxpayers registered under GST (except composition dealers, casual taxpayers, and Input Service Distributors) must file GSTR-9 annually.
Types of GST Annual Returns
- GSTR-9: For regular taxpayers
- GSTR-9A: For composition scheme taxpayers (not applicable after FY 2018-19)
- GSTR-9C: For businesses with turnover above ₹5 crores (audit reconciliation statement)
Due Date for Filing
The due date for GST annual return filing is 31st December of the following financial year. For example, the return for FY 2023-24 is due by 31st December 2024.
Steps to File GST Annual Return in Noida
- Login to the GST Portal (www.gst.gov.in)
- Go to 'Annual Return' Section
- Select the Financial Year
- Fill in the Required Details (sales, purchases, ITC, tax paid, etc.)
- Verify the Details
- Submit and File the Return
- Make Any Pending Payments (if applicable)
Penalties for Late Filing
If you miss the deadline, a late fee of ₹200 per day (₹100 CGST + ₹100 SGST) applies, subject to a maximum of 0.25% of turnover.
Why Seek Professional Help?
Filing GST annual returns requires accurate data entry and compliance checks. Businesses in Noida can consult GST experts or CA firms to avoid errors and penalties.
Conclusion
Filing GST annual returns in Noida is essential for tax compliance. Ensure timely filing to avoid penalties and maintain smooth business operations. If you need assistance, consider hiring a GST consultant for hassle-free compliance.