GST Return Filing: Facility to file returns for FY 2024-25 started from GST portal – Details

GST rates have been revised and new slabs have been implemented. The new GST rates have been implemented. The option to file GST returns is now available on the website.

GST Portal: GST rates have been revised and new slabs have been implemented. The new GST rates have been implemented. The GST return filing option is now available on the website. The GST portal has been updated to allow online filing of annual returns for fiscal year 2024-25, which can be filed by completing the GSTR-9 form.

GST Return Filing

The GST portal has opened for online filing of annual returns for the financial year 2024-25. Additionally, taxpayers can now file reconciliation statements using Form GSTR-9C. The deadline for filing the GSTR-9C annual return is December 31, 2025. This year, the filing window is shorter than usual, so taxpayers are advised to complete the process well in advance.

Important Points Regarding GST Returns

Under the regular scheme, all registered taxpayers, including SEZ units and SEZ developers, are required to file GSTR-9. Taxpayers who shift from the composition scheme to the regular scheme during the year are also required to file this form. Taxpayers registered under the composition scheme can file their annual return using Form GSTR-9A.

Casual taxpayers, non-resident taxpayers, input service distributors, and OIDAR service providers will not be required to file annual returns. The government may, through notifications from time to time, exempt certain categories of taxpayers from filing GSTR-9. According to the Centre, Form GSTR-9C must be filed by taxpayers whose aggregate turnover exceeds the prescribed threshold limit notified by the government during the financial year. These taxpayers will be required to get their accounts audited by a chartered accountant or cost accountant and submit a copy of the audited annual accounts along with the reconciliation statement.

Experts said that with the portal now active, tax professionals and businesses can start preparing for their annual GST filing for the financial year 2024-25 to ensure timely compliance. GSTR-9 is an annual GST return that must be filed by December 31 of the year following a particular financial year. It contains details of a business’s sales, purchases, and GST paid or collected during that year. Under GST, taxpayers registered with an annual turnover of more than Rs 2 crore are required to file GSTR-9 returns.

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