REPORTING OF F Y TRANSACTION IN NEXT YEAR

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This discussion clarifies how to report export services from FY 2018-19 in the Annual Return 9. Transactions paid with tax and those under a Letter of Undertaking (LUT) should be reported in table 10. For services under LUT where no tax was paid, a reconciliation statement should be prepared to address potential discrepancies in taxable value and tax amounts.

subodh jagananth magar

subodh jagananth magar (Querist)
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08 May 2020 Sir
Some services were exported to UAE on payment of taxes, whereas some were done under Letter of undertaking. however since not reported in F Y 2018-19, they were reported in June-2019 & shown as export & taxes paid wherever applicable along with tax. Now my query
in Annual Return 9 whether i have to report in Serial no 10, ie. next year reporting of transactions or where?
kindly guide me

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 May 2020 Yes report it in table 10.

subodh jagananth magar

subodh jagananth magar (Querist)
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08 May 2020 sir however what about services under letter of undertaking without tax since both taxable value & tax will not match in serial no 10. so whether reconciliation statement has to be prepared

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 May 2020 Yes show it in reconciliation.

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