- 1 Annual GST return require additional details from taxpayers
- 1.1 Auto Populated Details from GSTR 3B
- 1.2 Classifying total input tax credit (ITC) availed
- 1.3 Reconciliation between the credit claimed in GSTR-3B and GSTR-2A
- 1.4 HSN wise details of inward supplies. :
- 1.5 Reporting of previous year Transactions in next Financial Year
- 1.6 Classification of Suppliers
- 1.7 Reclaim of Input Tax Credit
- 1.8 No Rectification of errors done in filing GST returns
Annual GST return require additional details from taxpayers
The Government, on September 4, 2018, notified the format for filing annual return for both regular dealers (GSTR-9) and composition dealers (GSTR-9A). Refer
- GSTR 9 of Annual Return Notified : Download /Print
- [Video] GST Annual Return GSTR 9 Notified : जीएसटी वार्षिक रिटर्न : GST News 470
GST Law mandates all taxpayers, except casual taxable person or non-resident taxable person, input service distributor, person liable to deduct TDS, to file annual return for the July 2017 to March 2018 by 31 December 2018.
Annual return is divided into 6 parts with 19 tables, which requires taxpayers to report summary of outward supplies, inward supplies, tax paid, particulars of demands and refunds, HSN summary etc.
The following takeaways from the recently introduced annual return format (i.e. GSTR-9) will make it clear that taxpayers would need to make a note of certain new provisions.
Auto Populated Details from GSTR 3B
Classifying total input tax credit (ITC) availed
Reconciliation between the credit claimed in GSTR-3B and GSTR-2A
HSN wise details of inward supplies. :
Reporting of previous year Transactions in next Financial Year
Classification of Suppliers
Following supplies are required to be reported separately in GSTR 9 (Sr N0 16)
- Inward supplies from composition dealers,
- deemed supply from job workers
- Goods sent on approval basis but not returned
Reclaim of Input Tax Credit
Input tax credit reversed and reclaimed in FY 2017-18 to be separately reported in Table 6H of GSTR-9. For e.g. ITC is reversed on account of non-payment of consideration within 180 days. Subsequently, when the payment is made the said ITC is re-claimed. In this case, thus far, dealers were reclaiming the credit under the normal ITC. However, for the purpose of Annual return, such re-claimed credit of ITC needs to be identified an disclosed separately.
No Rectification of errors done in filing GST returns
From prima facie perusal of the Annual Return format, it appears that any additional liability arising out of error/omission in GSTR-1 and GSTR-3B cannot be paid at the time of filing annual return. This could be a setback as Industry was looking forward to rectifying all inadvertent mistakes at the time of filing the annual return
Important Note : Keep all the additional details asked in GSTR 9 (GST Annual Return) ready so that GSTR 9 can be filed on time.