simrankatyal | Nov 28, 2018 |
GST Annual Return Legal Provisions & Applicability :As per Section 44(1) of CGST Act 2017, taxable persons are required to furnish the GST Annual Return for every financial year electronically.
Further, taxable persons whose turnover exceeds Rs. 2 Crores during the financial year, are required to get their accounts audited under Section 35(5) of CGST Act 2017, by a Chartered Accountant or a Cost Accountant and submit Audited annual Financial Statements & a reconciliation statement (reconciling values of supplies declared in return furnished for financial year with audited annual financial statement) , along with the Annual return.
As per Rule 80 of CGST Rules 2017, below are the different types of Returns under GSTR 9 Form:
The following taxable persons are not required to file GST Annual Return under GST:
The due date for filing Form GSTR 9 is 31st December following the end of financial year.
Hence, for the Financial year ended 31st March 2018, the due date for filing GST Annual Return is 31st December 2018.
Late fees for late filing of GST Annual return is Rs. 100 per day (Rs. 100 each under CGST Act & SGST Act), subject to the maximum of 0.25% of the turnover.
The Government has notified Form GSTR-9 & GSTR-9A throughNotification No. 39/2018 Central Tax dated 4th September, 2018.
| Part | Information to be furnished |
| 1 | Basic Details |
| 2 | Details of Outward & Inward Supplies as declared during the financial year |
| 3 | Details of Input Tax Credit as declared in returns filed during financial year |
| 4 | Details of Tax Paid as declared in returns filed during financial year |
| 5 | Details of Transaction for previous Financial year declared in returns during April to September of current financial year |
| 6 | Other Details – GST refunds & Demands, HSN Wise summary information of goods recd & supplied, Late fees payable & Paid , Segregation of various Inward supplies , HSN Wise summary for outward supplies |
Part 1- Basic Details
(The financial year for the year ended 31st March 2018 shall be FY 2017-18, however it is to be noted that GST was implemented from 1st July 2017, hence, information for the period 1st Jul 2017 to 31st Mar 2018 is to be reported)
(GST Annual Return is to be filed for each GSTIN separately; hence there may be numerous GST Annual returns for a single entity, depending on no. of registrations obtained in GST)
3A. Legal Name
3B. Trade Name (if any)
Part 2- Details of Outward & Inward Supplies DECLARED during the Financial year
Part II consists of the details of all outward supplies & advances received during the financial year for which the GST annual return is filed. The details filled in Part II is a consolidation of all the supplies declared by the taxpayer in the returns filed during the financial year.
TABLE 4. Details of advances, inward and outward supplies on which TAX IS PAYABLE as DECLARED in returns filed during the financial year.
| A | Supplies made to un-registered persons (B2C) |
| B | Supplies made to registered persons (B2B) |
| C | Zero rated supply (Export) on payment of tax (except supplies to SEZs) |
| D | Supply to SEZs on payment of tax |
| E | Deemed Exports |
| F | Advances on which tax has been paid but invoice has not been issued (not covered under (A) to (E) above) |
| G | Inward supplies on which tax is to be paid on reverse charge basis |
| H | Sub-total (A to G above) |
| I | Credit Notes issued in respect of transactions specified in (B) to (E) above (-) |
| J | Debit Notes issued in respect of transactions specified in (B) to (E) above (+) |
| K | Supplies / tax declared through Amendments (+) |
| L | Supplies / tax reduced through Amendments (-) |
| M | Sub-total (I to L above) |
| N | Supplies and advances on which tax is to be paid (H + M) above |
TABLE 5. Details of Outward supplies on which TAX IS NOT PAYABLE as DECLARED in returns filed during the financial year
| A | Zero rated supply (Export) without payment of tax |
| B | Supply to SEZs without payment of tax |
| C | Supplies on which tax is to be paid by the recipient on reverse charge basis |
| D | Exempted |
| E | Nil Rated |
| F | Non-GST supply |
| G | Sub-total (A to F above) |
| H | Credit Notes issued in respect of transactions specified in A to F above (-) |
| I | Debit Notes issued in respect of transactions specified in A to F above (+) |
| J | Supplies declared through Amendments (+) |
| K | Supplies reduced through Amendments (-) |
| L | Sub-Total (H to K above) |
| M | Turnover on which tax is not to be paid (G + L above) |
| N | Total Turnover (including advances) (4N + 5M 4G above) |
Note:
Invoice relating to July 2017 to March 2018, along with the amendments made therein till 31st March 2018, are to be reported under Part II,
and any amendments relating to FY 2017-18, which have been incorporated in the returns filed during April 2018 to September 2018, are required to be reported under Part V.
Part III- Details of ITC as DECLARED in returns filed during the financial year
The Information relating to Input Tax Credit (ITC) , as availed , Ineligible ITC & GSTR2A are required to be reported here.
TABLE 6. Details of ITC Availed as DECLARED in returns during Financial Year
| A | Total amount of input tax credit availed through FORM GSTR-3B (sum total of Table 4A of FORM GSTR-3B) | THIS WILL BE AUTO POPULATED AS PER RETURNS FILED | |
| B | Inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) | Inputs | |
| Capital Goods | |||
| Input Services | |||
| C | Inward supplies received from unregistered persons liable to reverse charge (other than B above) on which tax is paid & ITC availed | Inputs | |
| Capital Goods | |||
| Input Services | |||
| D | Inward supplies received from registered persons liable to reverse charge (other than B above) on which tax is paid and ITC availed | Inputs | |
| Capital Goods | |||
| Input Services | |||
| E | Import of goods (including supplies from SEZs) | Inputs | |
| Capital Goods | |||
| F | Import of services (excluding inward supplies from SEZs) | ||
| G | Input Tax credit received from ISD | ||
| H | Amount of ITC reclaimed (other than B above) under the provisions of the Act | ||
| I | Sub-total (B to H above) | ||
| J | Difference (I A above) | ||
| K | Transition Credit through TRAN-I (including revisions if any) | ||
| L | Transition Credit through TRAN-II | ||
| M | Any other ITC availed but not specified above (Details of ITC availed but not covered in any of heads specified under 6B to 6L above shall be declared here. Details of ITC availed through FORM ITC- 01 and FORM ITC-02 in the financial year shall be declared here.) | ||
| N | Sub-total (K to M above) | ||
| O | Total ITC availed (I + N above) | ||
TABLE 7. Details of ITC Reversed and Ineligible ITC as DECLARED in returns filed during the financial year
The information relating to ITC reversed & Ineligible ITC, as declared in returns is required to be furnished here. Following are the reporting requirements :
| A | Reversal of ITC as per Rule 37 | In case the consideration is not paid within 180 days of Date of Invoice, the ITC availed on such supplies are required to be reversed by the Recipient |
| B | Reversal of ITC as per Rule 39 | This relates to Reversal of Excess Credit by Input Service Distributor |
| C | Reversal of ITC as per Rule 42 | Reversal of ITC in respect of inputs or input services on account of Exempt & Non Taxable supply, is to be reported here |
| D | Reversal of ITC as per Rule 43 | Reversal of ITC in respect of Capital Goods on account of Exempt & Non- Taxable supply is to be reported here |
| E | Ineligible ITC as per section 17(5) | As per Sec 17(5), some of the ITC have been mentioned as blocked credits. Such Credits are required to be reported here. |
| F | Reversal of TRAN-I credit | |
| G | Reversal of TRAN-II credit | |
| H | Other reversals (pl. specify) (Any ITC reversed through FORM ITC -03 shall be declared here) | |
| I | Total ITC Reversed (A to H above) | |
| J | Net ITC Available for Utilization (6O 7I) | |
TABLE 8. Other ITC Related Information
| A | ITC as per GSTR-2A (Table 3 & 5 thereof) WILL BE AUTO POPULATED |
| B | ITC as per sum total of 6(B) and 6(H) above WILL BE AUTO POPULATED |
| C | ITC on inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) received during 2017-18 but availed during April to September, 2018 |
| D | Difference [A-(B+C)] |
| E | ITC available but not availed (out of D) |
| F | ITC available but ineligible (out of D) |
| G | IGST paid on import of goods (including supplies from SEZ) |
| H | IGST credit availed on import of goods (as per 6(E) above) WILL BE AUTO POPULATED |
| I | Difference (G-H) |
| J | ITC available but not availed on import of goods (Equal to I) |
| K | Total ITC to be lapsed in current financial year (E + F + J) |
Table 8 reconciles ITC as per GSTR 2A and ITC claimed in GSTR 3B (either claimed in FY 2017-18, or received in FY 2017-18 and availed during April to Sept 2018).
Part IV- Details of tax paid as DECLARED in returns filed during the financial year
Part IV relates to details of taxes paid by the tax payer during the financial year. Payment of tax under Table 6.1 of FORM GSTR-3B may be used for filling up these details.
The details of taxes paid, either through Cash or credit, are required to be furnished in below mentioned format :
| Description | Tax Payable | Paid through cash | Paid through ITC | |||
| Central Tax | State Tax/UT Tax | Integrated Tax | Cess | |||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| Integrated Tax | ||||||
| Central Tax | ||||||
| State/UT Tax | ||||||
| Cess | ||||||
| Interest | ||||||
| Late fee | ||||||
| Penalty | ||||||
| Other | ||||||
Part V requires following to be reported;
| 10 | Supplies / tax declared through Amendments (+) (net of debit notes) | Details of additions or amendments to any of the supplies already declared in the returns of the FY 2017-18 but such amendments were furnished in Table 9A, Table 9B and Table 9C of FORM GSTR-1 of April 2018 to September 2018 or date of filing of GST Annual Return, whichever is earlier shall be declared here. |
| 11 | Supplies / tax reduced through Amendments (-) (net of credit notes) | |
| 12 | Reversal of ITC availed during previous financial year | Aggregate value of reversal of ITC which was availed in the FY 2017-18, but reversed in returns filed for the months of April 2018 to September 2018 or date of filing of GST Annual Return for previous financial year , whichever is earlier shall be declared here. Table 4(B) of FORM GSTR-3B may be used for filling up these details. |
| 13 | ITC availed for the previous financial year | Details of ITC for goods or services received in FY 2017-18 but ITC for the same was availed in returns filed for the months of April 2018 to September 2018 or date of filing of GST Annual Return for the previous financial year whichever is earlier shall be declared here. Table 4(A) of FORM GSTR-3B may be used for filling up these details |
| 14 | Differential tax paid on account of declaration in 10 & 11 above |
Part VI- Other Information
| 15 | Particulars of Demands and Refunds during FY 2017-18 |
| 16 | (A) Supplies received from composition taxpayers (Use Table 5 of Form GSTR 3B to fill these details) (B) Deemed supply under section 143 and goods sent on approval basis |
| 17 | HSN Wise Summary of outward supplies |
| 18 | HSN Wise Summary of Inward supplies (This reporting requirement would be a tedious job because HSN Wise summary of inward supplies is not maintained by majority of tax payers) |
| 19 | Late fee payable and paid (This would include late fees for late filing of GST Annual Return) |
Best Regards,
Simran Katyal
CA Finalist, B.Com (Hons)
Mail id : [email protected]
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