Mandatory or Optional? Check out the GSTR-9 Annual Return Tables

The GSTR-9 annual return and GSTR-9C reconciliation statement are crucial for GST-registered taxpayers. GSTR-9 consolidates all monthly/quarterly returns filed during the financial year, detailing outward and inward supplies under CGST, SGST, and IGST. GSTR-9C, mandatory for taxpayers with an aggregate turnover exceeding INR 5 crore, includes audited annual accounts and a reconciliation statement. The Central Board of Indirect Taxes and Customs (CBIC) has exempted taxpayers with an annual turnover up to INR 2 crore from filing GSTR-9 for FY 2021-22. The due date for filing both forms is December 31, 2022. Optional tables in GSTR-9 and GSTR-9C have been specified for different financial years, allowing taxpayers flexibility in reporting. These forms ensure accurate tax reporting and compliance, with penalties for late filing. The CBIC’s notifications provide clarity on mandatory and optional tables, aiding taxpayers in fulfilling their GST obligations efficiently.