GST Plus - Get Daily updates,support, whatsapp Group & reply to GST Notices etc.!! Call : 011-411-70713 !!

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


Finally, the wait is over as the government is notified the form for the annual return. Form 9 applicable for all the assesses other than composition dealers and form 9A applicable for the composition assessee.

In the article, I shall discuss the form 9 i.e. the form which is applicable to all the assessee except the composition dealer.

The annual return in form 9 has six parts namely:

Part-1: Basic details of the Assessee

Part-2: Details of Outward and inward supplies declared during the financial year

Part-3: Details of ITC as declared in returns filed during the financial year

Part-4: Details of tax paid as declared in returns filed during the financial year

Part-5: Particulars of the transactions for the previous FY declared in returns of April to September of current FY or upto the date of filing of annual return of previous FY whichever is earlier

Part-6: Other Information namely:

  1. Particulars of Demands and Refunds
  2. Information on supplies received from composition taxpayers, deemed supply under section 143 and goods sent on approval basis
  3. HSN Wise Summary of outward supplies
  4. HSN Wise Summary of Inward supplies
  5. Late fee payable and paid

Part-1: Basic details of the Assessee

This section of the annual return contains the basic information of the assessee like name and GST number and the financial year for which the form needs to be filled.

Part-2: Details of Outward and inward supplies declared during the financial year

This part contains the details related to the GST payable. As the GST is payable on the outward supply and the inward supplies on which the GST is payable under reverse charge basis.

This part has divided the outward supply into two parts i.e. taxable supply and non-taxable supply.

Further taxable supplies have been divided into the following category and include the inward supplies on which tax is payable on reverse charge basis:

  1. Supplies made to un-registered persons (B2C)
  2. Supplies made to registered persons (B2B)
  3. Zero-rated supply (Export) on payment of tax (except supplies to SEZs)
  4. Supply to SEZs on payment of tax
  5. Deemed Exports
  6. Advances on which tax has been paid but invoice has not been issued (not covered under (1) to (5) above)
  7. Inward supplies on which tax is to be paid on the reverse charge basis
  8. Credit Notes issued in respect of transactions specified in (2) to (5) above (-)
  9. Debit Notes issued in respect of transactions specified in (2) to (5) above (+)
  10. Supplies / tax declared through Amendments (+)
  11. Supplies / tax reduced through Amendments (-)

Non-taxable supply has been divided into the following category:

  1. Zero-rated supply (Export) without payment of tax
  2. Supply to SEZs without payment of tax
  3. Supplies on which tax is to be paid by the recipient on reverse charge basis
  4. Exempted
  5. Nil Rated
  6. Non-GST supply
  7. Credit Notes issued in respect of transactions specified in 1 to 6 above (-)
  8. Debit Notes issued in respect of transactions specified in 1 to 6 above (+)
  9. Supplies declared through Amendments (+)
  10. Supplies reduced through Amendments (-)

Part-3: Details of ITC as declared in returns filed during the financial year

This part required the information related to the most controversial topic and i.e. the CENVAT credit and its reconciliation:

The CENVAT credit claimed in the form 3B shall be divided into the following categories:

  1. Inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs)
  2. Inward supplies received from unregistered persons liable to reverse charge (other than B above) on which tax is paid & ITC availed
  3. Inward supplies received from registered persons liable to reverse charge (other than B above) on which tax is paid and ITC availed
  4. Import of goods (including supplies from SEZs)
  5. Import of services (excluding inward supplies from SEZs)
  6. Input Tax credit received from ISD
  7. Amount of ITC reclaimed (other than B above) under the provisions of the Act
  8. Transition Credit through TRAN-I (including revisions if any)
  9. Transition Credit through TRAN-II
  10. Any other ITC availed but not specified above

In addition to the above the reversal and the ineligible credit shall be bifurcated into the following:

  1. As per Rule 37; Reversal of input tax credit in the case of non-payment of consideration
  2. As per Rule 39; Procedure for distribution of input tax credit by Input Service Distributor
  3. As per Rule 42; Manner of determination of input tax credit in respect of inputs or input services and reversal thereof
  4. As per Rule 43; Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases
  5. As per section 17(5); Credit which is not available at all
  6. Reversal of TRAN-I credit
  7. Reversal of TRAN-II credit
  8. Other reversals (pl. specify): if the reversal and ineligible input does not fall into the above.

The credit reflecting the form 2A shall be bifurcated and treated in the following manner:

  1. Input tax credit on Inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) and Amount of ITC reclaimed (other than B above) under the provisions of the Act
  2. ITC on inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) received during 2017-18 but availed during April to September 2018
  3. The difference of the amount available in form 2A as reduced by  the amount determined in the above point 1 and 2
  4. Out of the amount in point number 3 reduce the following amount:
    1. ITC available but not availed
    2. ITC available but ineligible
    3. IGST paid on import of goods (including supplies from SEZ)
    4. IGST credit availed on the import of goods (as per 6(E) above) this figure shall be auto-populated.
    5. ITC available but not availed on the import of goods (Equal to I)
  5. ITC left shall be the sum total of the following:
    1. ITC available but ineligible
    2. ITC available but not availed
    3. ITC available but not availed on the import of goods

Part-4: Details of tax paid as declared in returns filed during the financial year

This part contains the details related to the taxes and other sums payable and paid in cash or through the utilization of CENVAT credit namely:

  1. Integrated Tax payable and paid in cash or through the utilization of CENVAT credit.
  2. Central Tax payable and paid in cash or through the utilization of CENVAT credit.
  3. State Tax payable and paid in cash or through the utilization of CENVAT credit.
  4. State Tax payable and paid in cash or through the utilization of CENVAT credit (Cess only).
  5. Interest, Late fee, Penalty and other sums payable and paid in cash only.

Part-5: Particulars of the transactions for the previous FY declared in returns of April to September of current FY or upto the date of filing of annual return of previous FY whichever is earlier

This part contains the details for the transactions from the previous tax period i.e. from July-2017 to March-2018 incorporates into the tax return for the period April-2018 to March-2019 upto the date of filing of the annual return related to:

  1. Supplies / tax declared through Amendments (+) (net of debit notes)
  2. Supplies / tax reduced through Amendments (-) (net of credit notes)
  3. Reversal of ITC availed during the previous financial year
  4. ITC availed for the previous financial year
  5. Details of the GST i.e. CGST, SGST and IGST and other sum i.e. Interest paid in respect of the above 1 and 2.

Part-6: Other Information

This parts requires the details in respect of demand and refund, inward supplies, HSN wise summary and the late fee paid and payable.

The details in respect of refund and demand shall be bifurcated in the following manner and each tax component-wise namely IGST, CGST, SGST and the Cess:

  1. Total Refund claimed
  2. Total Refund sanctioned
  3. Total Refund Rejected
  4. Total Refund Pending
  5. Total demand for taxes including the cess including interest, penalty, late fee and other amounts.
  6. Total taxes paid in respect of 5 above including interest, penalty, late fee and other.
  7. Total amount pending in respect of taxes including the cess including interest, penalty, late fee and other amounts.

Additional information in respect of the supplies received in respect of the following:

  1. Supplies received from Composition taxpayers
  2. Deemed supply under Section 143 related to Job work
  3. Goods sent on approval basis but not returned

HSN Wise Summary of inward/outward supplies shall be provided in the following manner:

  1. HSN Code
  2. UQC
  3. Total Quantity
  4. Taxable Value
  5. Rate of Tax
  6. Central Tax
  7. State Tax / UT Tax
  8. Integrated Tax; and
  9. Cess

This part also contains the details related to the late fee paid and payable. However, this information seems the duplication as this information also required in part 4.

"Loved reading this piece by CA Pradeep Kumar Rajput?
Join CAclubindia's network for Daily Articles, News Updates, Forum Threads, Judgments, Courses for CA/CS/CMA, Professional Courses and MUCH MORE!"




Tags :



Category GST, Other Articles by - CA Pradeep Kumar Rajput 



Comments


update