GST Annual Return: Introduction

Transcription

1 Annual Return (Relevant Provisions) CGST Act Sections: 35(5), 44 and 47(2) D R Gupta: GSTR-9 CGST Rules Rule: 80 1 GST Annual Return: Introduction GST annual return (i.e. GSTR-9) is be filed by the regular taxpayer once a year for every financial year with all the consolidated details of SGST, CGST and IGST paid during the year. Its due date is 31 st December of next financial year. Under the heads, the taxpayers fill information about supplies made and received in a year separately. It is a consolidated form which comprises the details mentioned in the monthly / quarterly returns in a year. Section 44. (1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a nonresident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the thirtyfirst day of December following the end of such financial year D R Gupta: GSTR-9 2 1

2 Who are not required to file annual return? The following classes of taxpayers are NOT required to file annual return under GST regime: (1) Input service distributor (ISD); (2) Persons registered as TDS deductor (Section 51); (3) Casual able Person (CTP); and (4) Non-resident taxable persons (NRTP) D R Gupta: GSTR-9 3 GST Annual Return: Forms At A Glance Form Rule Description GSTR 9 80(1) The regular taxpayer (i.e. who files GSTR-1, GSTR-2, GSTR-3B, etc.) is required to file the GSTR-9. GSTR 9A 80(1) The composition scheme taxpayer (i.e. who files GSTR-4) is required to furnish GSTR 9A. GSTR 9B 80(2) The E-commerce operator (i.e. who files GSTR 8) is to file annual return in form GSTR 9B in a financial year. The taxpayer whose annual turnover cross Rs. 2 crores is required to file GSTR 9C in a financial year. GSTR 9C 80(3) The taxpayer is needed to get his accounts audited by a Chartered Accountant or a Cost Accountant and furnish a copy of reconciliation statement of tax already paid, audited annual accounts and tax payable according to the audited accounts with GSTR 9C. 4 2

3 Clause Wise Analysis of Annual Return GSTR-9 D R Gupta: GSTR-9 5 Form GSTR-9: Annual Return: Parts at a Glance Part Description Tables I Basic Details 1, 2, 3A, 3B II Details of Outward and inward supplies declared during the financial year 4, 5 III Details of ITC as declared in returns filed during the financial year 6, 7, 8 IV Details of tax paid as declared in returns filed during the financial year 9 V Particulars of the transactions for the previous FY declared in returns of April to September of current financial year OR upto date of filing of annual return of previous FY, whichever is earlier. 10, 11, 12, 13, 14 VI Other information 15, 16, 17, 18, 19 D R Gupta: GSTR-9 6 3

4 Part I Form GSTR-9 [See Rule 80] Annual Return Basic Details 1 Financial Year 2 GSTIN 3A 3B Legal Name Trade Name (if any) D R Gupta: GSTR-9 7 Table 4. Details of advances, inward and outward supplies on which tax is payable as declared in returns filed during the financial year. D R Gupta: GSTR-9 8 4

5 Head Description Instructions GSTR-1 4A 4B 4C Supplies made to un-registered persons (B2C) Supplies made to registered persons (B2B) Zero rated supply (Export) on payment of tax (except supplies to SEZs) Aggregate value of supplies made to consumers and unregistered persons on which tax has been paid. [Include supplies through E-Com operators] (Net of CN or DN issued in this regard) Aggregate value of supplies made to registered persons on which tax has been paid. [Include supplies to UINs]... [Exclude RCM supplies] (Details of CN or DN are to be mentioned separately. Aggregate value of exports (except supplies to SEZs) 4D Supply to SEZs on payment of tax Aggregate value of supplies to SEZs. 6B 4E 4F 4G 4H Deemed Exports Advances on which tax has been paid but invoice has not been issued (not covered under (A) to (E) above) Inward supplies on which tax is to be paid on reverse charge basis Sub-total (A to G above) Aggregate value of supplies in the nature of deemed exports Details of all unadjusted balances i.e. advance has been received and tax has been paid but invoice has not been issued in the current year. Aggregate value of all inward supplies (including advances and net of CN and DN) on which tax is to be paid on RCM. 9(3), 9(4), 5(3), 5(4), Import of services (S.21), etc. 5, 7, 9, 10 4A, 4C D R Gupta: GSTR-9 9 6A 6C 11A 3.1(d) GSTR-3B Head Description Instructions GSTR-1 4I Credit Notes issued in respect of transactions specified in (B) to (E) above (-) Aggregate value of credit notes issued in respect of B2B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E) 9B 4J Debit Notes issued in respect of transactions specified in (B) to (E) above (+) Aggregate value of debit notes issued in respect of B2B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E) 9B 4K 4L Supplies / tax declared through Amendments (+) Supplies / tax reduced through Amendments (-) Details of amendments made to B2B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E), credit notes (4I), debit notes (4J) and refund vouchers. 9A 9C 4M Sub-total (I to L above) 4N Supplies and advances on which tax is to be paid (H + M) above D R Gupta: GSTR

6 Table 5. Details of outward supplies on which tax is NOT payable as declared in returns filed during the financial year. D R Gupta: GSTR-9 11 Head Description Instructions GSTR-1 5A Zero rated supply (Export) without payment of tax Aggregate value of exports (except supplies to SEZs) on which tax has not been paid 6A 5B Supply to SEZs without payment of tax Aggregate value of supplies to SEZs on which tax has not been paid 6B 5C Supplies on which tax is to be paid by the recipient on reverse charge basis Aggregate value of supplies made to registered persons on which tax is payable by the recipient on RCM basis. Details of credit and debit notes are to be mentioned separately. 5D Exempted Aggregate value of exempted supplies. 8 5E Nil Rated Aggregate value of Nil rated supplies. 8 5F 5G Non-GST supply Sub-total (A to G above) Aggregate value of Non-GST supplies. [Include No supplies] D R Gupta: GSTR B 8 6

7 Head Description Instructions GSTR-1 5H 5I 5J 5K 5L 5M 5N C/N issued in respect of transactions specified in A to F above (-) D/N issued in respect of transactions specified in A to F above (+) Supplies declared through Amendments (+) Supplies reduced through Amendments (-) Sub - Total (H to K above) Turnover on which tax is NOT to be paid (G + L above) Total Turnover (including advances) (4N + 5M 4G above) Aggregate value of credit notes issued in respect of supplies declared in 5A, 5B, 5C, 5D, 5E and 5F. Aggregate value of debit notes issued in respect of supplies declared in 5A, 5B, 5C, 5D, 5E and 5F. Details of amendments made to exports (except supplies to SEZs) and supplies to SEZs on which tax has not been paid. Details of amendments made to exports (except supplies to SEZs) and supplies to SEZs on which tax has not been paid. Sum of all supplies on which is payable and NOT payable. [Include: Advances on which tax paid but invoices not issued] [Exclude: Inward supplies on which tax is paid on RCM] D R Gupta: GSTR B 9B 9A 9C Table 6. Details of ITC as declared in returns filed during the financial year. D R Gupta: GSTR

8 Head Description Type Instructions GSTR-3B 6A 6B 6C 6D 6E 6F Total amount of input tax credit availed through Form GSTR-3B (sum total of Table 4A of GSTR 3B) Inward supplies (other than imports and inward supplies liable to RCM but includes services received from SEZs) Inward supplies received from URDs liable to RCM (other than B above) on which tax is paid & ITC availed Inward supplies received from RPs liable to RCM (other than B above) on which tax is paid & ITC availed Import of goods (including supplies from SEZs) Inputs Capital Goods Input Services Inputs Capital Goods Input Services Inputs Capital Goods Input Services Import of services (exclude inward supplies from SEZs) < Auto Populated > 4A Aggregate value of ITC availed on all inward supplies except RCM inwards supplies but includes supplies of services from SEZs. Aggregate value of ITC availed on all inward supplies received from URDs (other than import of services) on which tax is payable on RCM. Aggregate value of ITC availed on all inward supplies received from RPs on which tax is payable on reverse charge basis. Inputs Details of ITC availed on import of goods Capital Goods including supply of goods from SEZs. ITC availed on import of services (excluding inward supplies from SEZs) D R Gupta: GSTR (A)(5) 4(A)(3) 4(A)(3) 4(A)(1) 4(A)(2) 6G Input credit received from ISD ITC received from Input Service Distributors. 4(A)(4) 6H 6I Amount of ITC reclaimed (other than B above) under the provisions of the Act Sub Total (B to H above) ITC availed, reversed and reclaimed under the provisions of CGST Act. [S.16(1)(d)] Head Description Instructions Remarks 6J 6K 6L 6M Difference (I A above) Transitional Credit through TRAN-I (including revisions, if any) Transitional Credit through TRAN-II Any other ITC availed but not specified above Difference between ITC availed through GSTR-3B and ITC declared in rows 6B to 6H Transitional credit received in electronic credit ledger on filing of TRAN-I including revision (upwards or downwards), if any. Transitional credit received in electronic credit ledger on filing of TRAN-II. ITC availed but not covered in any of heads specified under 6B to 6L. [Include: ITC availed through ITC 01 & ITC 02] 6N Sub - Total (K to M above) ITC other than purchases/imports in GST regime. 6O Total ITC availed (I + N above) Ideally this should be ZERO TRAN-I (Credit Ledger) TRAN-II (Credit Ledger) GST ITC-01 [Sec.18(1)] GST ITC-02 [Rule 41(1)] D R Gupta: GSTR

9 Table 7. Details of ITC reversed and ineligible ITC as declared in returns filed during the financial year. D R Gupta: GSTR-9 17 Head Description Instructions GSTR-3B 7A As per Rule 37 Reversal under rule 37 [Non payment of consideration] 4(B) 7B As per Rule 39 Reversal under rule 39 [ISD credit] 4(B) 7C As per Rule 42 ITC reversals under rule 42 [Common credit] 4(B) 7D As per Rule 43 ITC reversals under rule 43 [Capital Goods] 4(B) 7E As per section 17(5) ITC reversals under section 17(5) [Blocked credit] 4(B) 7F Reversal of TRAN-I credit Ineligible transitional credit claimed in TRAN-I 4(B) 7G Reversal of TRAN-II credit Ineligible transitional credit claimed in TRAN-II 4(B) 7H Other reversals (pl. specify) Any ITC reversed through ITC-03 [Section 10 / Exempt] 4(B) 7I 7J Total ITC Reversed (A to H above) Net ITC available for utilization (6O 7I) D R Gupta: GSTR

10 Table 8. Other ITC related information D R Gupta: GSTR-9 19 Head Description Instructions Remarks 8A ITC as per GSTR-2A (Table 3 and 5) < Auto Populated > Suppliers GSTR1 GSTR-2A 8B ITC as per sum total of 6B & 6H above < Auto Populated > 6B, 6H 8C 8D ITC on inward supplies (other than imports and inward supplies liable to RCM but includes services received from SEZs) received during but availed during Apr Sep 2018 Difference [A (B + C)] ITC availed on all inward supplies [Exclude: RCM inward supplies] [Include: Services from SEZs] Purchases: 17-18, Availed: E ITC available but not availed (out of D) Available: GSTR-2A, Not availed: GSTR-3B 8F ITC available but not ineligible (out of D) Available: GSTR-2A, Ineligible: GSTR-3B 8G IGST paid on import of goods (including supplies from SEZ) IGST paid on imports (including from SEZs) during the FY. 8H IGST credit availed on import of goods (6E above) < Auto Populated > 8I Difference (G H) 8J ITC available but not availed on import of goods (Equal to 8I) D R Gupta: GSTR K Total ITC to be lapsed in current FY (E + F + J) < Auto Populated > GSTR-3B 4(A)(5) 10

11 Table 9. Details of tax paid as declared in returns filed during the financial year D R Gupta: GSTR Description Payable Paid through cash Central Paid through ITC State / UT Integrated Cess (1) (2) (3) (4) (5) (6) (7) Integrated Central State / UT Cess Interest Late fee Penalty Others Actual paid during the Financial Year (Use Table 6.1 of GSTR-3B)22 11

12 Form GSTR 9: Part V (Tables 10, 11, 12, 13 and 14) Particulars of the transactions for the previous FY declared in returns of April to September of current FY, or upto date of filing of annual return of previous FY, whichever is earlier Description able Value Central State / UT (Amount in Rs.) Integrated Cess (1) (2) (3) (4) (5) (6) 23 Table Description Instructions Remarks 10 Supplies / declared through Amendments (+) [Net of debit notes] Additions / Amendments to any of supplies declared in return of previous FY but amendments furnished in GSTR-1 of this FY (Apr Sept) This FY GSTR-1 9A, 9B, 9C 11 Supplies / reduced through Amendments (-) [Net of credit notes] Reductions / Amendments to any of supplies declared in return of previous FY but amendments furnished in GSTR-1 of this FY (Apr Sept) This FY GSTR-1 9A, 9B, 9C 12 Reversal of ITC availed during previous financial year Reversal of ITC which was availed in previous FY,but reversed in returns filed for Apr-Sept of current FY. This FY GSTR-3B Table 4(B) 13 ITC availed for the previous financial year Details ITC for goods or services received in previous FY, but ITC availed in returns filed by Apr-Sept of current FY This FY GSTR-3B Table 4(A) D R Gupta: GSTR

13 Table 14. Differential tax paid on account of declaration in Tables 10 and 11 above Integrated Central State / UT Cess Interest Description Payable Paid (1) (2) (3) D R Gupta: GSTR-9 25 Table 15. Particulars of Demands and Refunds Head Details Central State / UT Integrated Cess Interest Penalty Late Fee / Others (1) (2) (3) (4) (5) (6) (7) (8) D R Gupta: GSTR

14 Head Details Instructions Remarks 15A Total Refund claimed Aggregate value of all the refunds FILED in the financial year. 15B 15C 15D 15E 15F 15G Total Refund sanctioned Total Refund rejected Total Refund pending Total demand of taxes Total taxes paid in respect of E above Total demands pending out o f E above Aggregate value of all refund sanction orders received in the FY. Aggregate value of all refund claims which have been rejected by department in the FY. Aggregate value of all refund claims for which RFD-02 has been issued in the FY and are pending processing. [Exclude: Provisional refunds received] [Exclude: Non GST refund claims] Demands of taxes for which order confirming the demand has been issued by department. (and not reconciliation letters / notices) es paid out of total confirmed demand as declared in 15E above. Aggregate value of demands pending recovery out of 15E above. D R Gupta: GSTR-9 27 Table 16. Head 16A Information on supplies received from composition taxpayers, deemed supply under section 143 and goods sent on approval basis Details Supplies received from Composition taxpayers 16B Deemed supply under section C Goods sent on approval basis but not returned able Value Central State / UT Integrated (1) (2) (3) (4) (5) (6) 16A. Supplies received from composition taxpayers (Table 5 of GSTR-3B). 16B. Deemed supplies from principal to job worker u/s 143(3), 143(4) of CGST Act 16C. Goods sent on approval basis, but not returned to supplier within 180 days. [Section 31(7) of CGST Act] D R Gupta: GSTR-9 28 Cess 14

15 Table 17. HSN Wise Summary of Outward Supplies HSN Code UQC Total Quantity able Value Rate of Central State / UT Integrated Cess (1) (2) (3) (4) (5) (6) (7) (8) (9) * Summary of supplies effected against a particular HSN only [Table 12 of GSTR-1] * Optional for taxpayers having annual turnover upto Rs crores. * Mandatory to report two digit HSN code for ATO between 1.50 to 5.00 crores. * Four digit for taxpayers having ATO above Rs crores. * UQC to be only for supply for goods. D R Gupta: GSTR-9 29 Table 18. HSN Wise Summary of Inward Supplies HSN Code UQC Total Quantity able Value Rate of Central State / UT Integrated Cess (1) (2) (3) (4) (5) (6) (7) (8) (9) * Summary of supplies received against a particular HSN only. * Optional for taxpayers having annual turnover upto Rs crores. * Mandatory to report two digit HSN code for ATO between 1.50 to 5.00 crores. * Four digit for taxpayers having ATO above Rs crores. * UQC to be only for supply for goods. D R Gupta: GSTR

16 19A Central 19B State Table 19. Late fee payable and paid Description Payable Paid (1) (2) (3) * As per section 47(2) of CGST Act, late fee (Rs. 100/- per day) subject to maximum of 0.25% of turnover in a state / UT is payable. * Similar provision exists in SGST Act also. * Hence, late of Rs. 200/- per day subject to 0.50% of turnover in a state / UT. D R Gupta: GSTR-9 31 VERIFICATION I hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my knowledge and belief, and nothing has been concealed there from, and in case of any reduction in output tax liability the benefit thereof has been / will be passed on to the recipient of supply. Place: Date: Signature Name of Authorised Signatory Designation / Status D R Gupta: GSTR

17 Thank you very much for careful and patient listening with active participation. Have a nice time ahead