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EASTERN INDIA REGIONAL COUNCIL

Understand the requirements for filing the GST annual return in Eastern India, including deadlines, forms, extensions, record retention, tax credits, and assessment processes.

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EASTERN INDIA REGIONAL COUNCIL

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  1. EASTERN INDIA REGIONAL COUNCIL

  2. GST Annual Return 16-05-2019

  3. What is Annual Return? • Section 44(1) of CGST Act, 2017 states that : • Every registered person, other than an • Input Service Distributor (ISD) • a person paying tax under section 51 or section 52 (TDS / TCS) • a casual taxable person (CTP) and • a non-resident taxable person (NRTP) shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year

  4. GSTR-9 & 9A • As per Rule 80of CGST Rules 2017, Form GSTR-9 is an Annual Return • GSTR 9 / 9A Notified vide NN 39/2018 – CT (Dtd. 4th September 2018) • ROD Order No. 1/2018- CT, 11-12-2018 :- Removal of difficulty order regarding extension of due date for filing of Annual return (in FORMs GSTR-9, GSTR-9A and GSTR-9C) for FY 2017-18 till 31st March, 2019 • Further, GSTR 9 / 9A Notified (AMENDED FORMS) as per Notification No. 74/2018 - Central Tax dated 31st Dec 2018, • Order No. 03/2018- CT, 31-12-2018 Seeks to amend Removal of Difficulty Order No. 1/2018 dated 11.12.2018 so as to extend the due date for furnishing of annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the FY 2017-2018 till 30.06.2019

  5. Annual return-Amendments

  6. How Long to Keep the Records Sec 36 Period of Retention of Documents • 72 months from due date of filing of annual return i.e. 31stDec 20xx • 6 years and 9 months from end of the year • Party to Appeal / Revision/other proceeding -1 year after the Final disposal or period specified above, which ever is later.

  7. Sec 16(4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier. • Order No. 02/2018-CT, 31-12-2018 Seeks to extend the due date for availing ITC on the invoices or debit notes relating to such invoices issued during the FY 2017-18

  8. DETERMINATION OF TAX LIABILITY AND ISSUE OF ORDER Assessment of tax liability and issue an assessment order within a period of five years from the date specified under section 44 for furnishing of the annual return for the financial year to which the tax not paid relates : • Section 62. Assessment of non-filers of returns. • Section 63. Assessment of unregistered persons. • Section 74. Determination of tax by reason of fraud or any wilful misstatement or suppression of facts. (Fraud cases) Section 73. Assessment of Non Fraud Cases. Determination of tax and Issue of order by proper officer for any reason other than fraud or any wilful misstatement or suppression of facts relates to or within three years from the date of erroneous refund. Section 73 read with sub section (10).

  9. ANNUAL RETURN & AUDIT – GSTR-9ABC • Last date 30th June following the end of the financial year • GSTR 9 / 9A Notified vide NN 74/2018 – CT (Dtd. 31st December 2018)

  10. Annual Return –GSTR 9 Broad View 6 Parts 19 Tables

  11. GSTR 9A – For Composition Broad View 5 Parts 17Tables

  12. Annual Return – Instruction No. 3 & 4 • Instruction No 3: Part II It may be noted that additional liabilityof FY 17-18, which has not been discharged in FY 17-18 or FY 18-19 (subsequent period) MAY be declared in this GSTR-9 return through DRC-03.However, taxpayer cannot claim ITCunclaimed during FY 17-18 through this return. • Instruction No 4: Part II consists of the details of all outward supplies & advances received during the financial year for which the annual return is filed. It may be noted that all the supplies for which payment has been made through FORM GSTR-3B between July 2017 to March 2018 shall be declared in this part. The instructions to fill Part II are as follows: • On the other hand, instruction no 4 prescribes that in Pt. II, all supplies, for which tax liability has been discharged through GSTR-3B, needs to be disclosed in Pt. II.

  13. GENERAL RULE of - GSTR – 9 ANNUAL RETURN 1. NIL RETURN can be filed for the Financial year, if you have: - • NOT made any outward supply (commonly known as sale); AND • NOT received any goods/services (commonly known as purchase); AND • NO other liability to report; AND • NOT claimed any credit; AND • NOT claimed any refund; AND • NOT received any order creating demand 2. GSTR-9 can be filed online. It can also be prepared on OfflineTool and then uploaded on the Portal and filed. 3. Annual return in form GSTR-9 is required to be filed by every taxpayer registered as normal taxpayer during the relevant financial year. 4. All applicable statements in Forms GSTR-1and returns in Form GSTR 3Bof the financial year shall have been filed before filing GSTR-9.

  14. GENERAL RULE of - GSTR – 9 ANNUAL RETURN 5 . Annual return in Form GSTR-9 once filed cannot be revised. 6. Computation of ITC based on GSTR-2A has been auto-populated by the System based on GSTR-1 filed by your corresponding suppliers upto 28-02-2019 . Next update of ITC based on GSTR-2A will happen soon. If you have some missing credits in GSTR-2A, you may like to wait till next update. 7. GSTIN wise. • As per Section 44(1) of CGST Act, every registered person shall be required to file GSTR-9. • Hence, if a Taxpayer has obtained multiple GST Registrations whether in one state or more than one state, it shall be treated as a distinct person in respect of each such registration as per section 25(4) of CGST Act. Hence, GSTR-9 is required to be filed separately for each such GSTIN.

  15. GST STATUS AS ON 01-04-2019 GST migration and registration upto 31-03-2019 is 1,31,88,052 and out of this 17,74,379 is opted for composition scheme. Total revenue collected upto 31st march 2019 is Rs. 19.18 (Approx) Lacscrore from GST. Return status of filing upto 31/03/2019 for the year 2017-18 is :

  16. WAIVER OF LATE FEE GSTR- 1 : Notification No. 75/2018 – Central Tax New Delhi, the 31st December, 2018 - “Provided further that the amount of late fee payable under section 47 of the said Act shall stand waived for the registered persons who failed to furnish the details of outward supplies in FORM GSTR-1 for the months/quarters from July, 2017 to September, 2018 by the due date but furnishes the said details in FORM GSTR-1 between the period from 22nd December, 2018 to 31st March, 2019.”. GSTR-3B : Notification No. 76/2018 – Central Tax New Delhi, the 31st December, 2018 “Provided further that the amount of late fee payable under section 47 of the said Act shall stand waived for the registered persons who failed to furnish the return in FORM GSTR-3B for the months of July, 2017 to September, 2018 by the due date but furnishes the said return between the period from 22nd December, 2018 to 31st March, 2019.”

  17. GSTR 1 Relevant Table

  18. 3B Filing Table 3 : Detail of Outward Supplies and Inward supplies liable to reverse charges a)Outward taxable supplies (other than zero rated, nil rated and exempted) b)Outward taxable supplies (zero rated) c)Other outward supplies, (Nil rated, exempted) d)Inward supplies (liable to reverse charge) e)Non GST outward supplies.

  19. 3B Filing –Table 4 (A) ITC Available (whether in full or part) (1) Import of goods (2) Import of services (3) Inward supplies liable to reverse charge (other than 1 & 2 above) (4) Inward supplies from ISD (5) All other ITC (B) ITC Reversed (1) As per rules 42 & 43 of CGST Rules (2) Others (C) Net ITC Available (A) –(B) (D) Ineligible ITC (1) As per section 17(5) (2) Others

  20. Comparative table of GSTR 1& 3B

  21. GSTR -9 FORMAT • PART I: Basic Details • PART II: Details of Outward and inward supplies made during the financial year • PART III: Details of ITC for the financial year • PART IV: Details of tax paid as declared in returns filed during the financial year • PART V: Particulars of the transactions for the previous FY declared in returns of April to September of current FY (April 2018 to March 2019)or up to date of filing of annual return of previous FY whichever is earlier. • PART VI: Particulars of Demands & Refunds. • Auto populated data fields are EDITABLE, except the field in Table 6A & Table 8A of Part III of GSTR 9 and table 9 of Part IV (except for tax payable). NOTE : The fields, where the system computed values would be modified by more/less than 20%, shall be highlighted in ‘Red’ for reference and attention.

  22. Part-1 - Basic Details(Table 1-3) (Auto Populated) Notification No. 74/2018 - Central Tax dated 31st Dec 2018 states that : The details for the period between July 2017 to March 2018 are to be provided in GSTR-9. Hence, transactions for the period April-17 to June-17 are not to be included in GSTR-9 for FY 2017-18.

  23. Part-2 : (Table 4 & 5) Details of Outward and inward supplies made during the financial year

  24. Part-5 - Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to date of filing of annual return of previous FY whichever is earlier(Table 10-14)

  25. Table 10 to 14 – Circular 26 rectifications

  26. Rectification of errors in Returns : Circular 26/2017

  27. Amendments in GSTR 1

  28. Points to rememberPart-V Sl.No.10, 11, 12 & 13 • Part-V Sl.No.10, 11, 12 & 13 are combined for the only reason that the data to be entered here should be taken from additions and amendments made after the reporting financial year relating to transactions of reporting financial year. To clarify, the assesse can include or amend tax Invoices in GSTR 1 upto 30th September of the subsequent financial year or date of filing annual return whichever is earlier. (For the financial year 2017-18 the time limit extended upto 31st March, 2019). Similarly the time limit for adding or amending ITC is also upto due date for filing return of September of the subsequent financial year or the date of filing annual return whichever is earlier. (For the financial year 2017-18 the time limit extended upto 31st March, 2019). • The additions or amendments made within same financial year to be entered in Table 4 of GSTR 9 and amendments made in subsequent financial year are to be reported in table 10 and 11. • The returns ‘for’ the month can be filed on-time or belatedly, it would still remain returns ‘for’ that month. While considering this Part V of GSTR 9, data reported ‘for’ 2017-18 but in GSTR 1 of 2018-19 alone is to be reckoned. Any GSTR 1 pertaining to FY 2017-18 belatedly filed during FY 2018-19 should not be considered under this table • All the additions or amendments to supplies which increase the turnover should be considered in clause 10 of Part V. If result of such amendment is to reduce the total turnover, then it should be considered in clause 11 of Part V.

  29. GENERAL RULE of - Table 4 & 5 of ANNUAL RETURN • Table 4 pertains to amendments made in the reporting financial year, that is any original invoice issued and reported in Form GSTR 1 of reporting financial year can be amended in subsequent months of the same reporting financial year. Any changes made post March of reporting financial year to be reported in Table 10 and 11 only. • Only GST Debit notes or credit notes which are issued in relation to supplies should be captured in the annual return only if the same is as per sec 34 of CGST Act, 2017. Any commercial, accounting creditor debit notes which do not contain GST should not be adjusted for the calculation of taxable value and tax amounts in annual return. • In case Credit or Debit note issued as per provisions of GST during the tax period and is reported in Form GSTR 1, in the same tax period or before the end of March of reporting financial year, will be considered in Table 4 or Table 5 as the case may be. However, if the same is omitted to be considered during the said tax period of reporting financial year and considered before 30th September of subsequent financial year (for FY 2017-18 the date is extended up to March 31, 2019) or the date of filing Annual Return of reporting financial year whichever is earlier shall be reported in Table 10 and 11 only.

  30. A few illustrations:

  31. Table summarizing various situations for Credit Notes:

  32. Tabular illustration of difference situations

  33. Tabular illustration of difference situations

  34. Tabular illustration of difference situations

  35. ADVANCES- TAX TREATMENT?

  36. RCM – ISSUES ?

  37. COMPULSORY RCM- APPLICABLE?

  38. Table 5 - Details of Outward supplies MADE during the financial year on which tax is not payable

  39. GENERAL RULE of - Table 5 of ANNUAL RETURN • The taxpayers shall identify the cases wherein, the facility of LUT was withdrawn due to any default on the part of a taxpayer and exports were made on payment of integrated tax so that the two can be reported in appropriate Tables as per the requirements of GSTR9. • Any supply reportable under Table 5(C) of Form GSTR 9, on which tax is payable by a recipient under reverse charge, where the recipient being registered person such information can be derived from Table 4B of GSTR 1.

  40. GENERAL RULE of - Table 5 of ANNUAL RETURN

  41. Part-3 - Details of ITC for the financial year (Table 6-8)

  42. CONDITIONS FOR TAKING ITC BY A REGISTERED PERSON Sec 16(2) These 4 conditions are very important because, in case even if one condition is not fulfilled, Credit cannot be claimed, even though it is an eligible Credit. • He is in possession of Invoice/Debit note/Other taxpaying document • He has received the goods or services or both • The Seller, (who has collected the tax from buyer) must have paid the taxes to the government. • Both supplier and receiver have furnished GST returns.

  43. ITC AVAILED

  44. PART-II - Table 6SIGMA OF NATURE OF ITC AVAILED DURING FY

  45. TABLE 6J: SANCTITY OF ITC AVAILED

  46. GENERAL RULE of - Table 6 to 8 of ANNUAL RETURN In Part III data in Table 6A & Table 8A of Part III of GSTR 9 will be auto-populated and is non-editable.Where Table 6A auto-populates data of Input Tax Credit availed as per GSTR 3B during the reporting financial year and Table 8A auto-populates data of B2B inward supplies received by a supplier during the reporting financial year on which input tax credit is availed. • Part-III Sl.No.6L: Transition Credit through TRAN-II Transitional credit availed, by the registered person by filing of FORM GST TRAN-II during the reporting financial year shall be declared here, in case the form is filed during subsequent financial year the same need to be reported in Table 13 of Part V.

  47. Part-III Sl.No.6M: Any other ITC availed but not specified above • Details of credit under special circumstances specified in 18(1) shall be declared here. • Situation 1 -Any person who has applied for registration within thirty days from the date on which he becomes liable to registration and has been granted such registration • Situation 2- A person who takes voluntary registration • Situation 3 - Where any registered person ceases to composition levy person, • Situation 4-Where an exempt supply of goods or services or both by a registered person becomes a taxable supply • In all the above situations the registered person should have filed Form GSTITC 01, within the time prescribed. • Situation 5 - Section 18(3) read with Rule 41(1) of CGST Rules 2017 Where there is a change in constitution of any registered person or on account of sale of business, lease or transfer of business, amalgamated or merged with another registered person then the input tax credit which remain unutilised in his electronic credit ledger shall be transferred to the other person. In the above situations the registered person should have filed Form GST ITC 02, within the time prescribed.

  48. Table 7: Details of ITC Reversed and Ineligible ITC for the financial year

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