The GST Annual Financial Statement is a summary of all the transactions of the taxpayer registered under the Goods and Services Tax (GST) scheme during the financial year which aggregates the details of sales, purchases, . the available currency conversion rates are Income Tax (ITC), tax liability and taxes paid. Annual reports provide taxpayers with an overall view of GST activities during the year, facilitating transparency and GST compliance. There are different types of GST annuities depending on the nature of the taxpayer’s business activity. For regular taxpayers, GSTR-9 is an annual return filed electronically through the GST portal. A summary of all monthly or quarterly GST returns (GSTR-1 and GSTR-3B) filed for this year is included. GSTR-9A is for composition scheme taxpayers, and GSTR-9C is a reconciliation form certified by a chartered accountant or cost accountant for taxpayers whose gross income is above the specified threshold. GST annual return filing is mandatory for all registered taxpayers, including certain groups such as input service distributors, composition scheme taxpayers, and OIDAR (Online Information Database Access and Retrieval) service providers. The annual return must be submitted by December 31 following the end of the financial year. It is a process for matching taxpayers’ financial records with GST returns, ensuring accuracy of tax returns and facilitating audits or investigations by tax authorities.