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)

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)

08 May 2020 Yes report it in table 10.

subodh jagananth magar

subodh jagananth magar (Querist)

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)

08 May 2020 Yes show it in reconciliation.

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