GST Annual Return: Checklist for GST Review

A GST annual return can feel overwhelming, but it does not have to be. Think of it as a year-end clean-up where you make sure everything in your books, invoices, and returns lines up perfectly. Here's the perfect checklist to complete your annual GST review with confidence.

What is the GST Annual Return and Who Must File It?

A GST annual return is a consolidated return that captures all details of outward and inward supplies, input tax credits, tax payments, amendments, and adjustments for the entire financial year. It compiles the information furnished in GSTR-1 and GSTR-3B into a single statement.

Almost all registered taxpayers must file the annual return, except:

• Input Service Distributors
• Persons deducting TDS under section 51
• Persons collecting TCS under section 52
• Casual taxable persons
• Non-resident taxable persons

For FY 2024-25:

• Businesses with turnover above Rs 2 crore must file GSTR-9.
• Businesses with turnover above Rs 5 crore must file both GSTR-9 and GSTR-9C.
• The due date is 31 December 2025.

The Latest Changes You Should Know

Here is a quick summary of the changes:

ITC reversals: GSTR-9 now requires separate reporting of ITC reversed under Rule 37A (supplier not paying tax) and Rule 38 (mandatory 50% reversal for banks and financial institutions).

Tax payment reconciliation: Table 9 now contains new columns for total tax paid and the remaining tax liability, if any.

Year-wise ITC adjustments mandatory: Tables 12 and 13 must be filled if ITC of FY 2024-25 is reversed or availed in the next year.

Better HSN reporting: HSN summary can now be downloaded directly from the portal, reducing manual work.

ITC comparison in Table 8 updated: More accurate auto-population, a new field for import ITC, and no duplication of reclaimed credits.

Improvements in GSTR-9C: No clubbing of reconciliation differences and a new table for late fee reporting.

For a deeper breakdown of the changes, readers can explore this detailed analysis here

So let's move to the checklist.

GST Annual Return Checklist for FY 2024-25

1. Outward Supplies: Start with What You Sold

Your outward supplies reflect your tax liability. Begin here.

Match sales invoices with your books

Every invoice you issued during the year should match what appears in your accounts, GSTR-1, and GSTR-3B.

Check debit and credit notes

Make sure all adjustments are recorded and reflected in your returns.

Review amendments

If you fixed or changed invoices in the next financial year (April to September), ensure they are reported in the correct tables of GSTR-9.

Reconcile stock transfers

If you operate from multiple branches, match stock transfers between units with your books.

Match e-way bills with invoices

If an e-way bill exists, the invoice must exist too. This prevents future scrutiny.

Review your HSN summary

Before filling in the HSN details in GSTR-9, match quantities and values with your invoices.

Reconcile discounts

Confirm that all discounts given to customers are allowed under GST and correctly documented.

2. Inward Supplies & ITC: Your Most Sensitive Section

Input Tax Credit is the heart of GST compliance. One mistake here can cause notices and reversals.

Check every purchase invoice

Ensure that all purchase and expense bills match the ITC you have claimed.

Match GSTR-2A and 2B with your books

Suppliers must upload invoices. If something is missing, follow up.

Identify ineligible ITC

Expenses like personal use, motor vehicles, and blocked credits under Section 17(5) must be removed.

Review common credit reversals

If you supply both taxable and exempt goods, reverse proportionate ITC.

Reconcile ITC on fixed assets

Match capital goods purchases, asset registers, and ITC claims carefully.

Check transitional credits

Verify that all TRAN-1 transitional credits are properly reflected in the GST portal.

Revisit old ITC reversals

If you reversed ITC earlier because of non-payment, recheck whether you reclaimed it correctly.

Check the 180-day rule

If you did not pay a supplier within 180 days, the ITC must be reversed.

Reconcile RCM liabilities

Match all reverse charge payments with your books and returns, and ensure eligible RCM ITC is also claimed.

Review exempt and non-GST supplies

Reconcile exempt and non-GST inward supplies with financial statements and GSTR-3B.

3. Year-to-Year Adjustments: Do Not Miss These

These adjustments are often forgotten. They are now more strictly monitored.

ITC reversed next year? Enter in Table 12

If the ITC of FY 2024-25 was reversed in FY 2025-26, report it.

ITC availed next year? Enter in Table 13

If credits of FY 2024-25 were taken up to the October 2025 GSTR-3B, report them here.

Verify import ITC

Make sure import-related ITC is reported in the new section created for it.

4. Table 8 Reconciliation: Avoid Common Mismatches

This is one of the trickiest tables in GSTR-9.

Verify Table 8A with downloaded data

The portal now allows invoice-wise downloads. Use it.

Avoid double reporting

If you reclaimed old ITC and it is already in Table 6B, do not enter it again in 8C.

Check auto-populated values

Table 8B should auto-populate only from Table 6B.

Use the new import ITC field

A new field captures import-related ITC for adjustments made in the next year.

5. Other Information You Must Not Forget

This is the part many taxpayers skip until the last moment. Do not ignore it.

Check demands and refunds

Record all outstanding demands, refunds claimed, and refunds received.

Report supplies from composition dealers

This includes purchases from suppliers who pay tax at a concessional rate.

Goods sent on approval

If goods were sent under Section 143 and not returned, report them correctly.

Recheck late fee details

Make sure the late fee payable and the late fee paid match your records.

6. GSTR-9C Checklist (For Businesses Above Rs 5 Crore)

If you must file GSTR-9C, this part is essential.

Reconcile turnover with audited financials

Turnover in books and GSTR-9 must match or be explained.

Enter adjustments in the right tables

Do not club everything under one field. Use each table correctly.

Reconcile ITC differences

Explain and document differences clearly.

Verify new late fee reporting

GSTR-9C now has a table for late fees. Fill it carefully.

Pay extra liability before submission

If any reconciliation difference creates additional tax, pay through DRC-03.

7. Final Review Before Filing

This final round of checks ensures your return is error-free.

Confirm all GSTR-1 and GSTR-3B returns are filed

You cannot file GSTR-9 without completing monthly returns.

Match books, returns, and reconciliations

Everything must agree before you click the submit button.

Keep working papers ready

They help if the department seeks clarification later.

Pay additional liability upfront

Pay through DRC-03 to avoid interest or future notices.

Click the blue button below to download the PDF of the GST Annual Checklist.

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