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GST ANNUAL RETURN WHO WILL FILE? Section 44 of the CGST Act, 2017 requires filing of annual return by every
registered person other than-
An Input Service Distributor
Tax Deductor/ Tax Collector
A Casual Taxable Person
A Non- resident Taxable Person
TIME LIMIT FOR FILING? On or before 31st December following the end of such financial year.
However, as per Order No. 1/2018-Central Tax dated 11th December 2018,the due date for filing annual return for the period 2017-18 has beenextended to 31st March 2019
GST ANNUAL RETURN
Rule 80 of CGST Act, 2017 prescribes following forms of Annual Return:
Form GSTR 9- For Registered Persons other than composition dealers
Form GSTR 9A- For Composition Dealers
Form GSTR 9B- For Electronic Commerce Operators
Form GSTR 9C- For furnishing of Audited Annual Accounts andReconciliation Statement by registered persons having aggregateturnover exceeding Rs. 2 Crores
NIL Annual Return- A person registered under GST will have to file AnnualReturn even in case of NIL GST liability during the Financial Year
The format of Form GSTR-9 has been disclosed in Notification No.39/2018-Central Tax dated 4th September 2018
GST ANNUAL RETURN: GSTR-9: FILING PROCESS
GSTR-9 can be prepared: Online (On GST Portal Directly) Offline Excel Utility
GST Portal will Provide the following facility : Auto drafted GSTR-9 on the Basis of GSTR-1 & GSTR-3B filed by Taxpayer Consolidated Summary of GSTR-1 Consolidated Summary of GSTR-3B
All the values will be editable except the following: Table 6A: ITC Availed in GSTR-3B Table 8A: ITC as per GSTR-2A Table 9: Tax paid as shown in Return
Nil Return can be filed in a Single Click
GST ANNUAL RETURN: GSTR-9: FILING PROCESS
• As per Order No. 1/2018- Central Tax dated 11th December, 2018which may be called as the Central Goods and Service Tax(Removal of Difficulties) Order, 2018, the electronic portal forfiling of Annual Return is likely to be made operational by 31st
January, 2019
• Henceforth, it has been declared that the Annual Return for theperiod from 1st July 2017 to 31st March 2018 shall be furnished on orbefore 31st March, 2019
GST ANNUAL RETURN:GSTR-9: IMPORTANT POINTS
GSTR-9 has to be filed separately for every registration taken in eachstate
Corrections can be made online in GSTR-9 before submitting theReturn, except in Table 17 & Table 18 if number of records are morethan 500
Table 17 & 18 is HSN summary & in case records are more than 500, itcan be filled and edited only through the Offline tool
No payment has to be made with Annual Return except for late fees incase of late return filing
GSTR-9 once filed cannot be revised Payment of balance liability if any can be made on voluntary basis
through GST DRC-03
GST ANNUAL RETURN:GSTR-9: LEVY OF LATE FEES
As per Section 47(2) of the CGST Act, 2017:‘any registered person who fails to furnish the return required under section 44 by the due date shall be liable to pay a late fee of one hundred rupees (Rs.100/-) for every day during which such failure continues subject to a maximum of an amount calculated at a quarter per cent of his turnover in the State or Union territory.’
Late Fees
Rs.100/- per day
0.25% of turnover in the
State
Similar provisions also exist in State/UT GST law
Also applicable for Nil return.
GST ANNUAL RETURN:FORM GSTR-9
Broad View of GSTR-9
Part I
Basic Information
Part II
Tax Liability
Outward Inward RCM
Part III
Input Tax Credit
AvailedReversed
and Ineligible
As per GSTR 2A
Part IV
Details of tax paid (in cash/ through ITC)
Part V
Amendments
Part VI
Other Information
Demand/ Refund
Supplies from Composition
Dealers
HSN Wise Summary
GST ANNUAL RETURN:FORM GSTR-9: DETAILS REQUIRED
Parts of GSTR-9
Table of GSTR-9
Information Required
Part-I Table-1 Financial Year
Part-I Table -2 GSTINPart-I Table-3-A Legal Name
Part-I Table-3-B Trade Name
Parts of GSTR-9
Table of GSTR-9 Information Required
Part-II Table-4 Details of advance, outward supply & Inward supply and Tax Payable thereon
Part-II Table -5 Details of Outward Supply on which Tax is Not Payable Part-III Table-6 Details of ITC Declared in Return filed during the F.Y.
Part-III Table-7
Details of ITC Reversed and Ineligible ITC Declared in Return. Reversal under:Rule-37: Due to non Payment in 180 DaysRule-39: ITC reversal due to ISD Cr. NotesRule-42: Exempted proportion of Common ITCRule-43: Common ITC on Capital Goods
GST ANNUAL RETURN:FORM GSTR-9: DETAILS REQUIRED
GST ANNUAL RETURN:FORM GSTR-9: DETAILS REQUIRED
Parts of GSTR-9
Table of GSTR-9
Information required
Part-III Table-8 Other ITC Related Information (In this tableReconciliation of ITC is to be done)
Part-IV Table-9 Details of Tax paid during the Year through Cash orthrough Credit
Part-V Table-10 Supplies / Tax Declared through Amendment (Net ofDebit Note)
Part-V Table-11 Supplies / Tax Reduced through Amendment (Net ofCredit Note)
GST ANNUAL RETURN:FORM GSTR-9: DETAILS REQUIRED
Parts of GSTR-9
Table of GSTR-9
Information required
Part-V Table-12 Reversal of ITC availed in F.Y. 2017-18 (but Reversed in F.Y. 2018-19)
Part-V Table-13 ITC availed in F.Y. 2018-19 pertaining to the Supplies Received in the F.Y. 2017-18
Part-V Table-14 Differential tax paid on account of amendment done (on account of declaration in Table 10 & 11)
GST ANNUAL RETURN:FORM GSTR-9: DETAILS REQUIREDParts of GSTR-9
Table of GSTR-9
Information required
Part-VI Table-15 Details of Refund and Demand during the year
Part-VI Table-16 Supply received from Composition dealersDeemed Supply under Section 143Goods Send on approval but not returned
Part-VI Table-17 HSN Wise Summary of Outward SupplyPart-VI Table-18 HSN Wise Summary of Inward SupplyPart-VI Table-19 Late Fees Payable & Paid
GSTR-9 FORMAT
GST ANNUAL RETURN:FORM GSTR-9C
• Form GSTR-9C is the GST Reconciliation Statement for a particularFY to be filed by taxpayers after being certified by CharteredAccountant(s).
• It must be filed along with the GSTR-9 (Annual Return) and theAudited Financial Statements on the GST Portal directly or be filedthrough the facilitation centre
• This statement is applicable to all those taxpayers who must gettheir Annual Accounts audited under the GST law
• Audit applies to those registered persons whose annual aggregateturnover exceeds Rs 2 crores in a financial year
• The format of GSTR-9C was notified vide Notification No. 49/2018-Central Tax dated 13th September 2018
GST ANNUAL RETURN:FORM GSTR-9C: IMPORTANT POINTS• A person required to file Form GSTR-9C shall also file Annual Return
along with the Reconciliation Statement and copy of auditedfinancial statements.
• For the purpose of GSTR 9C,as per Section 2(6), aggregate turnovermeans the aggregate value of all taxable supplies, exempt supplies,export of goods and services and interstate supplies of personshaving the same PAN, to be computed on all India basis but excludesCGST, SGST/UTGST, IGST and Cess and Inward supply on which tax ispaid on Reverse Charge Basis.
• As per Auditor’s Recommendation, taxpayer shall have to pay anyshort tax liability in case of excess refund/ credit taken and vice-versa.
GST ANNUAL RETURN:FORM GSTR 9C
Broad View of GSTR 9C
Part A: Reconciliation Statement
Part I
Basic Information
Part II
Reconciliation of Turnover
Part III
Reconciliation of Tax Paid
Part IV
Reconciliation of Input Tax
Credit
Part V
Auditor’s Recommendation
Part B: Certification
GST ANNUAL RETURN:FORM GSTR-9C: DETAILS REQUIRED
Parts of GSTR-9C
Table of GSTR-9C
Information Required
PART-A: RECONCILIATION STATEMENT
Part-I Table-1 Financial Year
Part-I Table -2 GSTIN
Part-I Table-3-A Legal NamePart-I Table-3-B Trade Name
Part-I Table -4 Liability for audit
Parts of GSTR-9C
Table of GSTR-9C Information Required
Part-II Table-5 Reconciliation of Gross Turnover
Part-II Table-6 Reasons for Un-Reconciled Difference in Annual Gross Turnover
Part-II Table-7 Reconciliation of Taxable Turnover
Part-II Table-8 Reasons for Un-Reconciled Difference in Taxable Turnover
GST ANNUAL RETURN:FORM GSTR-9C: DETAILS REQUIRED
GST ANNUAL RETURN:FORM GSTR-9C: DETAILS REQUIRED
Parts of GSTR-9C
Table of GSTR-9C
Information required
Part-III Table-9 Reconciliation of Rate wise liability
Part-III Table-10 Reason for unreconciled payment of amount
Part-III Table-11 Additional amount payable (Rate-wise) due to reasons specified in table 6, 8 & 10
GST ANNUAL RETURN:FORM GSTR-9C: DETAILS REQUIRED
Parts of GSTR-9C
Table of GSTR-9C
Information required
Part-IV Table-12 Reconciliation of Net Input Tax Credit (ITC)
Part-IV Table-13 Reasons for un-reconciled difference in ITC
Part-IV Table-14 Reconciliation of ITC declared in Annual Return (GSTR 9) with ITC availed on expenses as per audited Annual Financial Statements
GST ANNUAL RETURN:FORM GSTR-9C: DETAILS REQUIRED
Parts of GSTR-9C
Table of GSTR-9C Information required
Part-IV Table-15 Reasons for un-reconciled difference in ITCPart-IV Table-16 Tax Payable on un-reconciled difference in ITC (due
to reasons specified in 13 & 15 above)Part-V Auditor’s Recommendation on additional liability due
to non-reconciliationPART-B: CERTIFICATIONPart-I Certification where GSTR-9C is drawn by the person
conducting auditPart-II Certification where GSTR-9C is drawn by person
other than the person conducting audit
GST ANNUAL RETURN:GSTR 9C-PART I
Turnover as per financials includes direct & indirect incomes-interest & other exempted items
Following is to be added to turnover as per audited financials to arrive at Form 9 turnover-
Schedule I supplies-Director, Group Companies
Unbilled Revenue
Unadjusted advances
Financial Credit notes
Valuation differences- Branch transfers, Pure Agents
Foreign exchange fluctuation-Comparison between GST valuation & books
GST ANNUAL RETURN:GSTR 9C-PART II
After reconciliation of total turnover, reconciliation of taxableturnover
Figures of actual exempted & zero rated supplies be given
Reasons for difference:
Missed turnovers
Balances written back
Asset sale-profit/loss
Renting not reported in financials
Insurance claims received
Incentives received by traders
GST ANNUAL RETURN:GSTR 9C-PART III
Reconciliation of taxes paid- Payable vs paid
Additional tax payable- because of difference intotal/taxable turnover or tax payable
GST ANNUAL RETURN:GSTR 9C-PART IV
Reason for unreconciled ITC: ITC booked in current year but availed in returns of
subsequent year
Booked in books but not availed
Debited in financials as expense
GST ANNUAL RETURN:GSTR 9C-PART V
Auditor’s recommendation should be summarization & quantification oftax arising out of-
Non-reconciliation of turnover;
Non-reconciliation of ITC;
Any other amount to be paid for supplies not included in the Annualreturn
Any refund which has been erroneously taken & shall be paid back tothe Government
Any other outstanding demands which is recommended to be settledby the auditor
