TMI BlogAll about GSTR-9 & GSTR-9C for FY 2019-20X X X X Extracts X X X X X X X X Extracts X X X X ..... All about GSTR-9 & GSTR-9C for FY 2019-20 - By: - pratish goel - Goods and Services Tax - GST - Dated:- 6-2-2021 - - ALL ABOUT GSTR-9 GSTR-9C REPORTING REQUIREMENTS FOR FY 2019-20 Recently financial budget 2021 has proposed to omit the provision section 35(5) and amend the section 44 of CGST Act, 2017 . After acceptance of bill by president of India GST audit need not to file. Recently CBIC clarified through retweet on tweeter that Section 35 and 44 of CGST Act are proposed to be amended in Finance Bill, 2021 . However, these proposals will come into effect from a date to be notified later. For FY 2019-20, the existing provisions shall continue. GSTR-9 Form GSTR-9 is an annual return whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch is required to be filed as per section 44 read with rule 80(1) of CGST rules, 2017. Initially annual return was required to be filed by every registered person irrespective the amount of turnover. Thereafter CBIC issued Notification No. 47/2019 and 77/2020- Central Tax gives benefit of optional filing of annual return for registered person whose aggregate turnover in a financial year does not exceed ₹ 2 crore, for F.Y. 2017-18, F.Y. 2018-19 and FY 2019-20 as well. GSTR-9C Form GSTR-9C is a statement of reconciliation between the annual return GSTR-9 filed and the amount as per the audited financial statement of the taxpayer. GSTR-9C is required to file by the taxpayer as per section 35(5) read with rule 80(3) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of CGST rules, 2017. Initially annual return was required to be filed by every registered person having turnover exceeding ₹ 2 Cr. Thereafter CBIC issued Notification No. 16/2020- Central tax dated 23 rd March, 2020 to revise the threshold limit to ₹ 5 Cr. For F.Y. 2018-19 onwards. Applicability of GSTR-9 GSTR-9C for FY 2019-20 Table No Particulars GSTR-9 GSTR-9C Turnover up to ₹ 2 Cr. Optional Optional Turnover more than ₹ 2 Cr. And up to ₹ 5 Cr. Mandatory Op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tional Turnover more than ₹ 5 Cr. Mandatory Mandatory Table-wise details requirement in form GSTR-9 Forms contain tables which are required to be filled by the taxpayers. As the GST is new for all, there are lots of confusions amongst the taxpayer regarding collection of data and how to fill the tables. CBIC issued notification 74/2019 and amended the form GSTR-9 and GSTR-9C and made some tables, clause of the form optional. Table-wise details required is as below: Table No. Particulars FY 2019-20 4. Details of advances, inwards and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... outward supplies on which tax is payable as declared in returns filed during the FY. Table 4A, B, C, D, E, F Mandatory Table I, J, K, L There is an option to fill these details separately or can be clubbed with Table 4B to 4E. 5. Details of outward supplies on which tax is not payable made during the financial year- Table 5 A, B, C Mandatory Table 5 D, E, F The consolidated details can be disclosed in the exempted row. Table 5 H, I, J, K There is an option to fill these d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etails separately or can be clubbed with Table 5A to 5F 6. Details of ITC availed as declared in the returns during the financial year. 6A, Others Mandatory 6B, 6C, 6D, 6E For Input and input services there is option to provide breakup or total in inputs only. Capital Goods should be shown separately. There is an option to either report in Table 6C and in Table 6D separately or report the consolidated details of Table 6C and 6D in Table 6D only 7. Details of ITC Reversed and Ineligible ITC as declared in returns filed during the financial year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7A, 7B, 7C, 7D, 7E Either fill separately or report the entire amount in 7H only 7F, 7G, 7H Mandatory 8. Others ITC related information Mandatory 9. Details of tax paid as declared in returns filed during the financial year Mandatory 10 11 Supplies / tax declared/reduced through Amendments (+) (-) (net of credit /debit notes) Mandatory 12 13 Reversal of ITC availed during previous financial year and ITC availed for the previous financial year. Opt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional 15 Particulars of demand and refund Optional 16 Information on supplies received from composition taxpayers, deemed supply under section 143 and goods sent on approval basis. Optional 17 HSN wise summary of outward Supplies Optional 18 HSN wise summary of inward supplies Optional Table-wise details requirement in form GSTR-9C Table No. Particulars FY 2019-20 5 Reconciliation of Gross Turnover ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5A is mandatory Net 5B to 5N can show in 5O Mandatory 7 Reconciliation of Taxable Turnover Mandatory 9 Reconciliation of Tax paid Mandatory 11 Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above) Mandatory 12 Reconciliation of Net Input Tax Credit (ITC) 12A Mandatory 12B, 12C Optional 14 Reconciliation of ITC declared in Annual Return (GSTR9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) with ITC availed on expenses as per audited Annual Financial Statement or books of account Optional 16 Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above) Mandatory - Reply By KASTURI SETHI as = Sh. Pratish Goel Ji, Very useful article. Thanks a lot. Dated: 6-2-2021 Reply By Prem Gomathy as = Sir, As Tables 12B and 12C are optional, is it possible to give entire figure in Table 12A. Instead of giving breakup? Prema Dated: 21-3-2021 - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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