Input Tax Credit Annual al Ret eturn n under er GST GSTR-9 Availment, Restrictions, Job- work and other aspects Workshop organaised by Membership and Public Relation Committed of CTC Kalyan – 01.12.2018 By CA Vasant K Bhat
Objective of the session Applicability of Annual Return Relevant provisions under GST Filing of GSTR-9 Issues in GSTR-9 By CA Vasant K Bhat 2
Applicability of Annual Returns Other than ISD, person As per section Every registered paying tax 44(1) + Nofn. person shall file under 51 or 52 39/2018-CT annual return Casual taxable person, NRTP Electronically on or before 31 st Ex: for the FY Dec of following 2017-18 – due the end of such date 31.12.2018 FY By CA Vasant K. Bhat 3
Applicability of Annual Return Normal registered person • In GSTR-9 Person registered under • In GSTR-9A section 10 of CGST E-Commerce Operator • In GSTR-9B (not notified) • In GSTR-9C [In addition to GSTR-9] Audit- Aggr. TO > 2 Cr Reconciliation Statement 4 By CA Vasant K. Bhat
Points to note • This return to be filed annually is intended to provide consolidated figures of the year. • No comparison with books and records. Only as per periodic returns filed ??? • Disclosure made in Annual Return – in the nature of self assessment • Disclosure not made – allegation of suppression By CA Vasant K. Bhat 5
PARTS OF ANNUAL RETURN ITC as availed/ Tax Paid reversed in details as per returns of returns of 2017-18 + 2017-18 GSTR-2A Transactions Outward reported from supplies as April to reported in Sep ’ 2018 – returns of Relating to FY 2017-18 2017-18 ANNUAL Other Basic Information / RETURN Information details By CA Vasant K. Bhat 6
Annual Return – Basic Information Part 1: Basic Information In this table the basic details of the registered person filing 1 Financial Year GSTR-9 need to be filled. It is expected that these details would get auto-populated in 2 GSTIN common portal. Even otherwise the Legal Name and Trade Name should get auto-populated based on GSTIN. 3A Legal Name The financial year for which the annual return is filed is also required to be mentioned in Part-I. Presently the financial year would be 2017-18, however the details to be furnished is for 3B Trade Name (if any) the period July 2017 to March 2018. By CA Vasant K. Bhat 7
Hiregange & Associations 8 By CA Vasant K. Bhat
Annual Return – Outward Supply Part II. Table 4: A. Supplies made to un-registered persons (B2C) In this row the sum total of outward supplies to URP. Net of debit note and credit note. The details of supplies made to un-registered person would be Aggregate value of supplies made to consumers and available from: unregistered persons on which tax has been paid shall be declared here. These will include details of Table 5 of GSTR-1 – supplies made to unregistered person but are supplies made through E-Commerce operators and categorised as B2C (inter-State). are to be declared as net of credit notes or debit Table 7 of GSTR-1 – supplies made to unregistered person but are notes issued in this regard. Table 5, Table 7 along categorised as B2C others (which is net of debit and credit note) with respective amendments in Table 9 and Table 10 of FORM GSTR-1 may be used for filling up these Table 9 of GSTR-1 – amendments with respect to B2CL of table 5 within details. March 18. Table 10 of GSTR-1 - amendments with respect to B2C others disclosed in Table 7 within March 18. By CA Vasant K. Bhat 9
Annual Return – Outward Supply Part II. Table 4: B. Supplies made to registered persons (B2B) Aggregate value of supplies made to registered Sum total of outward supplies to Regd person. persons (including supplies made to UINs) on which tax has been paid shall be declared here. These will Outward supplies on which the recipient is made liable to pay the GST include supplies made through E-Commerce under reverse charge should not be included in this table. operators but shall not include supplies on which tax is to be paid by the recipient on reverse charge basis. These details would be available in Details of debit and credit notes are to be mentioned Table 4 [4A & 4C] of GSTR-1 – supplies made to registered person separately. Table 4A and Table 4C of FORM GSTR-1 may be used for filling up these details. By CA Vasant K. Bhat 10
Annual Return – Outward Suplly Part II. Table 4: C. Zero rated supply (Export) on payment of Table 6A of GSTR-1 – Exports tax (except supplies to SEZs) D. Supply to SEZs on payment of tax Table 6B of GSTR-1 – Supplies made to SEZ unit or SEZ Developer Deemed export – refer notification no. 48/2017-CT dated 18.10.2017 – the following supplies would be considered as deemed exports: • Supply of goods by a registered person against Advance Authorisation. • Supply of capital goods by a registered person against Export Promotion Capital Goods Authorisation. E. Deemed Exports • Supply of goods by a registered person to Export Oriented Unit. • Supply of gold by a bank or Public Sector Undertaking specified in the notification No. 50/2017-Customs, dated the 30th June, 2017 (as amended) against Advance Authorisation These details would be available in Table 6C of GSTR-1 – Deemed Exports By CA Vasant K. Bhat 11
Annual Return – Outward Supply Part II. Table 4: Advances received during the period April 17 to June 17 should not be considered. F. Advances on which tax has been paid but Ex: invoice has not been issued (not covered Total advance received during July 17 to Mar 18 is Rs.10,00,000/- under (A) to (E) above) Less: invoices raised against such advances during July 17 to Mar 18 is Rs.8,00,000/- Details of all unadjusted advances i.e. advance Balance advance received for which invoice is not raised is has been received and tax has been paid but Rs.2,00,000/- - which is required to be shown in this column. invoice has not been issued in the current year This detail would be available from table 11A of GSTR-1. shall be declared here. Table 11A of FORM This has to be computed as closing outstanding Advance on which tax GSTR-1 may be used for filling up these details is paid but yet invoice is to be raised. • It does not include import of goods on which IGST is paid G. Inward supplies on which tax is to be paid • This detail would be available from the table 3.1(d) of GSTR-3B on reverse charge basis H. Sub-total (A to G above) Auto-Populated By CA Vasant K. Bhat 12
Annual Return – Outward Supply Part II. Table 4: • In this section, the sum total value of credit notes raised within the I. Credit Notes issued in respect of same financial year in respect of transactions specified in (B) to (E) above B to B supplies (-) Export with payment of tax SEZ supplies with payment of tax Aggregate value of credit notes issued in Deemed exports with payment of tax respect of B to B supplies (4B), exports (4C), • But shall not include credit notes raised with respect to B to C supplies to SEZs (4D) and deemed exports (4E) supplies. shall be declared here. Table 9B of FORM • Financial credit notes raised may not be included – i.e., credit note GSTR-1 may be used for filling up these provides reduction only in the taxable value without reducing the details. tax. • This detail would be available from Table 9B of GSTR-1 J. Debit Notes issued in respect of This detail would be available from Table 9B of GSTR-1 transactions specified in (B) to (E) above (+) By CA Vasant K. Bhat 13
Annual Return – Outward Supply Part II. Table 4: • In this section, any amendments made within the same financial year for the following supplies, B to B supplies Export with payment of tax SEZ supplies with payment of tax K. Supplies / tax declared through Deemed exports with payment of tax would be disclosed. Amendments (+) • Details would be available in table 9A and 9C of GSTR-1 • Compensatory errors like reported inter-state supply as intra-state supply is to be disclosed carefully. If required, match the amendment made in GSTR 3B with GSTR-1. L. Supplies / tax reduced through Same as above Amendments (-) Auto-Populated M. Sub-total (I to L above) N. Supplies and advances on which tax is to Auto-Populated be paid (H + M) above By CA Vasant K. Bhat 14
Hiregange & Associations 15 By CA Vasant K. Bhat
Annual Return – Outward Supply Part II. Table 5: Details of all other supplies (i.e. supplies without payment of tax and exempt) made by the registered person during the previous financial year A. Zero rated supply (Export) without Table 6A of GSTR-1 – supplies made to registered person payment of tax B. Supply to SEZs without payment of tax Table 6B of GSTR-1 – supplies made to registered person C. Supplies on which tax is to be paid by the The details would be available in table 4B of GSTR-1 recipient on reverse charge basis D. Exempted The details would be available in table 8 of GSTR-1 E. Nil Rated The details would be available in table 8 of GSTR-1 The details would be available in table 8 of GSTR-1 Note: The Non-GST supplies includes no supply as well. However, if no F. Non-GST Supply supply details have not been reported in GSTR-3B/GSTR-1, the same need not be disclosed in this table. By CA Vasant K. Bhat 16
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