GSTR-9 ANNUAL RETURN PART-2: CLAUSE BY CLAUSE ANALYSIS

GSTR-9 ANNUAL RETURN PART-2: CLAUSE BY CLAUSE ANALYSIS
GSTR-9-Annual-Returns - Part-2
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In previous blog we already have discussed on basic part of Annual Return GSTR-9. In this article we will study GSTR- 9 Annual Return Part-2: Clause by Clause Analysis  from clause 1 to 4.

Part-1

Basic Details

Analysis

1

Financial Year

The details would be punched from July 1, 2017 to March 31, 2018

2

GSTIN

Since, the annual return is to be filled at GSTIN Level. The GSTIN of the specific unit is to be provided. It is an auto-populated field

3A & 3b

Legal Name and Trade Name

The trade name may differ from the legal name. Legal name is the name under which a company, partnership firm or business is incorporated. It is usually the named on the PAN card of the company. Trade name is the name used in common parlance, business practices.

For instance, a proprietor CA firm may be Pardeep Garg & Company, that’s the trade name, but the legal name is Pardeep Garg.

 

Part II

PART-II Details of Advances, inward and Outward supplies made during the F.Y on which tax is payable

 

Nature of Supplies

Analysis

4A

Supplies made to unregistered persons (B2C)

– Taxable Supplies made to unregistered persons/consumers during the Financial Year is required to be disclosed.

– The information to be declared should be net of debit notes and credit notes.

Following Table of GSTR-1 References may be used: –

ü  B 2 C L – Interstate supplies to unregistered persons above 2.5 lakhs

ü  B2C (others)

ü  Credit Notes/Debit Notes (URD)

ü  Amended Credit Notes/Debit Notes (URD)

ü  Amended B2C (Large)

ü  – Amended B2C (others)

Points to be considered

1.    Supplies made through electronic commerce operator to unregistered Persons would also be included here.

2.    Debit Note or Credit note issued in Financial Year 2018-19 in respect of supplies made to consumers in Financial Year 2017-18 will not be considered here.

4B

Supplies made to registered person (B2B)

– Aggregate value of supplies made to registered persons on which tax has been paid shall be declared here.

– Shall not include supplies on which tax is payable by recipient under Reverse charge basis.

– Supplies made to UIN holders will be reported here, though they are not a ‘registered person’.

Following Table of GSTR-1 References may be used: –

Taxable outward supplies made to registered persons. (Table 4 C)

Point to be considered

1.    Supplies made through electronic commerce operator to registered Persons would also be included here.

2.       Merchant exporting in terms of notification 41/2017 IGST-Rate dated 23rd October 2017, will also be reported here.

3.       The credit/ debit notes issued and reported within the FY 2017-18 would not be disclosed here but to disclosed in table 4I and 4J respectively.

4.       Amendments made in the details furnished within the FY 2017-18 will NOT be disclosed here and will be shown in table 4K or 4L.

 

4C

Zero rated supply (Export) on payment of tax (Except supplies to SEZ)

Aggregate value of exports (Goods or/and services) on which tax is paid to be declared here

Following Table of GSTR-1 References may be used: –

Export Invoices (Table 6A)

Points to be considered

·         Zero-rated supplies without payment of tax under LUT or bond will not be disclosed here.

·         The credit/ debit notes issued and reported within the FY 2017-18 would not be disclosed here but to disclosed in table 4I and 4J respectively.

·         Amendments made in the details furnished within the FY 2017-18 will NOT be disclosed here and will be shown in table 4K or 4L.

4D

Supplies to SEZ on payment of tax

Aggregate value of supplies (Goods or/and services) made to SEZ on payment of tax shall be separately disclosed here.

Following Table of GSTR-1 References may be used: –

Supplies to SEZ with payment of tax (Table 6B)

Points to be considered

·         Supplies made to SEZ units or developer without payment of tax will not be disclosed here

·         The credit/ debit notes issued and reported within the FY 2017-18 would not be disclosed here but to disclosed in table 4I and 4J respectively.

·         Amendments made in the details furnished within the FY 2017-18 will NOT be disclosed here and will be shown in table 4K or 4L.

4E

Deemed Exports

Aggregate value of deemed exports on which tax is paid to be declared here.

Following Table of GSTR-1 References may be used: –

Deemed Exports (Table 6C)

Points to be considered

Section 147 and NN 48/2017-Central tax dated 18th October 2017, prescribes the following supplies to be regarded as deemed exports:

(a) Supply of goods against advance authorization

(b) Supply of capital goods against EPCG authorization

(c) Supply of goods to EOU (export-oriented undertakings)

(d) Supply of gold by bank/PSU specified in Notification no. 50/2017-Customs dated 30th June 2017

The credit/ debit notes issued and reported within the FY 2017-18 would not be disclosed here but to disclosed in table 4I and 4J respectively.

Amendments made in the details furnished within the FY 2017-18 will NOT be disclosed here and will be shown in table 4K or 4L.

4F

Advances on which tax has been paid but invoice has not been issued (not covered under (A) to (E) above)

Details of unadjusted advances on which tax is paid but invoice is not issued to be declared here.

Following Table of GSTR-1 References may be used: –

Advances Received (Table 11)

Points to be considered

·         Advance received for supply of Goods is exempt only from 15.11.2017. Prior Advances for goods in respect of which the invoice has not been issued till March 31, 2018, would be shown here.

·         The tax paid by the recipient on account of advance payment to the supplier for the inwards supplies on which tax is to be paid under reverse charge basis, will not be included here

4G

Inward supplies on which tax is to be paid on the reverse charge basis

– Inward Supplies on which tax is paid by the recipient under reverse charge. [both registered and unregistered suppliers]

– To be declared net of debit notes and credit notes

Following Table of GSTR-3B References may be used: –

Table 3.1(d)

Points to be considered

– Inward supplies from unregistered person on which reverse charge was leviable under section 9(4) of CGST Act, 2017 or Section 5(4) of the IGST Act, 2017, till October 13, 2017. (N.N. 38/2017-CT(R) dated Oct 13, 2017), subject to Exemption limit of Rs. 5000/- per day.

Taxes paid on import of goods shall not be reported here as the same is not paid under reverse charge basis.

4H

Sub total (A to G above)

Auto-populated

4I

Credit notes issued in respect of transactions specified in (B) to (E) above (-)

Aggregate value of credit notes issued in respect of B to B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E) shall be declared here.

Following Table of GSTR-3B References may be used: –

Table 9B of FORM GSTR-1

Points to be considered

Credit Note issued in Financial Year 2018-19 in respect of supplies made to registered person in Financial Year 2017-18 will not be considered here but would be reported in Part V.

Credit notes issued in respect of B2C domestic supplies will not be shown here and will be adjusted in table 4A.

4J

Debit notes issued in respect of transactions specified in (B) to (E) above (+)

Aggregate value of debit notes issued in respect of B to B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E) shall be declared here.

Following Table of GSTR-1 References may be used: –

Table 9B of FORM GSTR-1

Points to be considered

Debit Note issued in Financial Year 2018-19 in respect of supplies made to registered person in Financial Year 2017-18 will not be considered here but would be reported in Part V.

Debit notes issued in respect of B2C domestic supplies will not be shown here and will be adjusted in table 4A.

4K

Supplies/tax declared through Amendments (+) (Clause 4K)

and

Supplies/tax reduced through Amendments (-) (Clause 4L)

Details of amendments made to B to B supplies (4B), exports (4C), supplies to SEZs (4D) and deemed exports (4E), credit notes (4I), debit notes (4J) and refund vouchers shall be declared here.

Following Table of GSTR-1 References may be used: –

Table 9A and Table 9C of FORM GSTR-1

Points to be considered

Amendments made in 2018-19 in relation to supplies made in 17-18 will be disclosed in part V.

Details of amendments made during the FY 17-18, in respect of supplies made with payment of tax, which increase the output liability will be shown in Clause 4K.

Details of amendments made during the FY 17-18, in respect of supplies made with payment of tax, which reduces the output liability will be shown here in Clause 4L

Any amendment of the static data and does not affect taxable values and taxes, would not be considered for reporting here. E.g. GSTIN of a party incorrectly furnished in GSTR 1, The shipping bill number was stated incorrectly in Table 6A of GSTR 1,

4M

Sub total (I to L above)

Auto-populated

4N

Supplies and advances on which tax is to be paid (H + M) above

Auto-populated

 

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