Audit (Form 9C ) and Annual Return (Form 9) – FAQ
What is Due date for Filing GSTR 9 and 9C for FY 1718
Ans – The Government has extended the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 to 31 st December 2019
Is GST Annual Return Compulsory for Turnover upto 2CR
Ans – No its optional to file GSTR 9 upto 2 Crore (Notification 47/2019 dated 9th Oct 2019)
Which Period Turnover will be checked for 2 Crore criteria
Ans – The aggregate turnover for this purpose shall be reckoned for the period July, 2017 to March, 2018. (Press release dated 3rd July 2019)
What will be Primary data source for declaration in annual return
Ans –Ideally, information in FORM GSTR-1, FORM GSTR-3B and books of accounts should be synchronous and the values should match across different forms and the books of accounts. Also if difference has not been treated in Next year April to Sep GSTR, impact of additional tax liability can be given in annual return and can be paid through DRC 03
Further, no input tax credit can be reversed or availed through the annual return. If taxpayers find themselves liable for reversing any input tax credit, they may do the same through FORM GST DRC-03 separately. If credit remains to be availed same can be availed in Next year April to September GSTR
Some data like Breakup of ITC into input services, input and capital goods and HSN wise summary has not been filed in Regular return but required in Annual return
Central Board of Indirect Taxes & Customs (CBIC) today notified the amendments regarding the simplification of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) which inter-alia allow the taxpayers to not to provide split of input tax credit availed on inputs, input services and capital goods and to not to provide HSN level information of outputs or inputs, etc. for the financial year 2017-18 and 2018-19
Can we pay any additional tax in GSTR 9
In cases where some information has not been furnished in the statement of outward supplies in FORM GSTR-1 or in the regular returns in FORM GSTR-3B of Current year as well as Next year April to September, such taxpayers may pay the tax with interest through FORM GST DRC-03 at any time. In fact, the annual return provides an additional opportunity for such taxpayers to declare the summary of supply against which payment of tax is made.
What is to be reported in reconciliation of input tax credit availed on expenses:
Table 14 of the reconciliation statement calls for reconciliation of input tax credit availed on expenses with input tax credit declared in the annual return. It may be noted that only those expenses are to be reconciled where input tax credit has been availed. Further, the list of expenses given in Table 14 is a representative list of heads under which input tax credit may have been availed. The taxpayer has the option to add any head of expenses.
What will be consequences if there is more than 20% deviation in our values and System generated value
Majority of the details in the Tables of GSTR-9 will be auto-populated from GSTR-1 and GSTR-3B. A taxpayer can edit these auto-populated values but if the difference is more than 20%, the cells will be highlighted in red and a confirmation message will pop-up asking ‘if the taxpayer wants to proceed despite deviation.’
GST Authorities can issue a notice asking the assessee to reconcile the ITC claimed in GSTR-3B and system generated Form GSTR-2A. The differential tax amount, if any, may need to be paid.
