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GST Annual Return vs. Monthly Returns: Key Differences
GST compliance requires businesses to file both monthly returns (GSTR-1 & GSTR-3B) and an annual return (GSTR-9). While monthly returns provide a summary of tax liability and Input Tax Credit (ITC), the annual return consolidates the entire years data. Understanding the differences between these returns is crucial for proper GST compliance.
GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi,
1. What is a GST Monthly Return?
GST monthly returns include GSTR-1 and GSTR-3B, filed every month or quarter.
GSTR-1 (Sales Return)
Filed by 11th of every month (for monthly filers) or 13th of the following month (for QRMP scheme).
Reports outward supplies (sales) and tax liability.
Mismatch between GSTR-1 & GSTR-3B can lead to GST notices.
GSTR-3B (Summary Return)
Filed by 20th of the month (for businesses above 5 crore) or 22nd/24th for QRMP scheme.
Includes summary of ITC claims, tax liability, and payments.
ITC is claimed based on GSTR-2B (auto-generated purchase data).
2. What is a GST Annual Return (GSTR-9)?
A consolidated return that summarizes monthly GSTR-1 & GSTR-3B filings for the financial year.
Due date: 31st December following the financial year.
Includes total sales, ITC claimed, tax paid, and adjustments.
Types of Annual Returns
GSTR-9 For regular taxpayers.
GSTR-9C GST Audit Report (if turnover exceeds 5 crore).
GSTR-9A For composition scheme taxpayers (now discontinued).
3. Key Differences Between GST Annual Return & Monthly Returns
Aspect Monthly Returns (GSTR-1 & GSTR-3B) Annual Return (GSTR-9)
Purpose Reports monthly sales, ITC, tax liability Consolidates yearly GST data
Filing Frequency Monthly or Quarterly Annually
Due Date 11th & 20th of each month 31st December
ITC Reporting ITC claimed in GSTR-3B ITC verified & reconciled
Corrections Allowed? Yes, in the next month's return No corrections allowed after filing
Mandatory? Yes, for all registered businesses Not mandatory for turnover below 2 crore
GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi,
4. Importance of GST Annual Return (GSTR-9)
Ensures yearly reconciliation of taxes paid and ITC claimed.
Helps in identifying errors in monthly returns.
Crucial for GST audits and compliance checks.
Get Practical GST Course in Delhi (110090) SLA Consultants India
Master GST monthly & annual return filing, reconciliation, and compliance at SLA Consultants India, New Delhi (Pin Code: 110090).
Live GST Filing Practice
Hands-on GST Software Training
Expert Guidance on GSTR-9 & GSTR-3B Reconciliation
100% Job Assistance in Taxation & Finance
Enroll Today and become a GST expert with SLA Consultants India!
SLA Consultant GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi, details with New Year Offer 2025 are available at the link below:
https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx
https://slaconsultantsdelhi.in/gst-course-training-institute/
E-Accounts, E-Taxation and (Goods and Services Tax) GST Training Courses
Module 1 - GST- Goods and Services Tax- By Chartered Accountant- (Indirect Tax)
Module 2 - Income Tax/TDS - By Chartered Accountant (Direct Tax)
Module 3 - Finalization of Balance sheet/ preparation of Financial Statement- By Chartered Accountant
Module 4 - Banking and Finance Instruments - By Chartered Accountant
Module 5 - Customs / Import and Export Procedures - By Chartered Accountant
Contact Us:
SLA Consultants India
82-83, 3rd Floor, Vijay Block,
Above Titan Eye Shop,
Metro Pillar No. 52,
Laxmi Nagar,New Delhi,110092
Call +91- 8700575874
E-Mail: hr@slaconsultantsindia.com
Website :https://www.slaconsultantsindia.com/
GST compliance requires businesses to file both monthly returns (GSTR-1 & GSTR-3B) and an annual return (GSTR-9). While monthly returns provide a summary of tax liability and Input Tax Credit (ITC), the annual return consolidates the entire years data. Understanding the differences between these returns is crucial for proper GST compliance.
GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi,
1. What is a GST Monthly Return?
GST monthly returns include GSTR-1 and GSTR-3B, filed every month or quarter.
GSTR-1 (Sales Return)
Filed by 11th of every month (for monthly filers) or 13th of the following month (for QRMP scheme).
Reports outward supplies (sales) and tax liability.
Mismatch between GSTR-1 & GSTR-3B can lead to GST notices.
GSTR-3B (Summary Return)
Filed by 20th of the month (for businesses above 5 crore) or 22nd/24th for QRMP scheme.
Includes summary of ITC claims, tax liability, and payments.
ITC is claimed based on GSTR-2B (auto-generated purchase data).
2. What is a GST Annual Return (GSTR-9)?
A consolidated return that summarizes monthly GSTR-1 & GSTR-3B filings for the financial year.
Due date: 31st December following the financial year.
Includes total sales, ITC claimed, tax paid, and adjustments.
Types of Annual Returns
GSTR-9 For regular taxpayers.
GSTR-9C GST Audit Report (if turnover exceeds 5 crore).
GSTR-9A For composition scheme taxpayers (now discontinued).
3. Key Differences Between GST Annual Return & Monthly Returns
Aspect Monthly Returns (GSTR-1 & GSTR-3B) Annual Return (GSTR-9)
Purpose Reports monthly sales, ITC, tax liability Consolidates yearly GST data
Filing Frequency Monthly or Quarterly Annually
Due Date 11th & 20th of each month 31st December
ITC Reporting ITC claimed in GSTR-3B ITC verified & reconciled
Corrections Allowed? Yes, in the next month's return No corrections allowed after filing
Mandatory? Yes, for all registered businesses Not mandatory for turnover below 2 crore
GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi,
4. Importance of GST Annual Return (GSTR-9)
Ensures yearly reconciliation of taxes paid and ITC claimed.
Helps in identifying errors in monthly returns.
Crucial for GST audits and compliance checks.
Get Practical GST Course in Delhi (110090) SLA Consultants India
Master GST monthly & annual return filing, reconciliation, and compliance at SLA Consultants India, New Delhi (Pin Code: 110090).
Live GST Filing Practice
Hands-on GST Software Training
Expert Guidance on GSTR-9 & GSTR-3B Reconciliation
100% Job Assistance in Taxation & Finance
Enroll Today and become a GST expert with SLA Consultants India!
SLA Consultant GST Annual Return vs. Monthly Returns: Key Differences, Get Practical GST Course in Delhi, 110090, by SLA Consultants India, New Delhi, details with New Year Offer 2025 are available at the link below:
https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx
https://slaconsultantsdelhi.in/gst-course-training-institute/
E-Accounts, E-Taxation and (Goods and Services Tax) GST Training Courses
Module 1 - GST- Goods and Services Tax- By Chartered Accountant- (Indirect Tax)
Module 2 - Income Tax/TDS - By Chartered Accountant (Direct Tax)
Module 3 - Finalization of Balance sheet/ preparation of Financial Statement- By Chartered Accountant
Module 4 - Banking and Finance Instruments - By Chartered Accountant
Module 5 - Customs / Import and Export Procedures - By Chartered Accountant
Contact Us:
SLA Consultants India
82-83, 3rd Floor, Vijay Block,
Above Titan Eye Shop,
Metro Pillar No. 52,
Laxmi Nagar,New Delhi,110092
Call +91- 8700575874
E-Mail: hr@slaconsultantsindia.com
Website :https://www.slaconsultantsindia.com/
