GSTR 9 ... table 9... value regards..

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ACCOUNTANT
524 Points Joined May 2011
Sir, due to purchase returns being more than purchase, that value is also included in liability, therefore liability is more in the 9th table in GSTR-9, can we reduce it?? pls suggest
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On 25 December 2024 at 18:49 Report
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Master in Accounts & high court Advocate
9434 Points Joined December 2011

Understanding Table 9 of GSTR-9 Table 9 of GSTR-9 requires reporting of the liability, which includes:

 1. _Tax payable_: Tax liability as per the GSTR-3B returns.

 2. _Interest and penalty_: Any interest or penalty paid during the financial year.

3. _Other liabilities_: Includes purchase returns, among other liabilities.

 Adjusting Liability due to Purchase Returns To adjust the liability in Table 9:

1. _Reconcile purchase returns_: Verify the purchase returns and ensure they are accurately accounted for.

2. _Claim input tax credit (ITC)_: If eligible, claim ITC on the purchase returns to reduce the liability.

3. _Report adjustments in Table 9_: Make adjustments to the liability in Table 9 by reporting the reduced liability after considering the purchase returns.

 Additional Considerations

 1. _Maintain documentation_: Keep records of purchase returns, ITC claims, and adjustments made to the liability.

2. _Consult a tax professional_: Verify the accuracy of the adjustments and ensure compliance with GST regulations.

By following these steps, you can adjust the liability in Table 9 of GSTR-9 to reflect the correct amount after considering purchase returns.

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On 20 January 2025 at 13:29


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