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Annual GST Return- An Overview

Annual GST Return – Some Basic Points of Understanding

  • This year for the first time the Tax payers will have to file Annual GST Return for their respective categories. This is another mandatory GST Return which all Tax payers need to file and the process and details of the same is also different.

Let us now understand Filling process of Annual GST Return in a easy way

 Common Annual GST Return for all categories of Regular tax payers

 GSTR 9 is the common Annual GST Return to be filed by all categories of Regular tax payers

Type of Annual GST Return

This Return is actually a consolidation of all GST Returns filed in a financial year and it is required to be filed once for every Financial Year

Required details for filling Annual GST Return for the FY 2017-18

The following details are required to be reconciled for filling Annual Return of any Financial year and now for 2017-18:

  • Turn over
  • Sales Transactions and generated Outward liability due to that
  • Input Tax Credit taken in the FY 2017-18 in all GSTR 3B
  • Input Tax credit as per GSTR2A
  • Reverse Charge Paid in the FY 2017-18
  • GST Payment figure in the FY 2017-18 through different challan
  • IT Return for the FY 2017-18

Total Nos. of parts and  sections in GSTR 9

There are 6 parts and 19 tables in GSTR 9

Sales Liabilities in Annual GST Return

There are following types of Sales Liabilities in Annual GST Return

  • The sales liabilities shown in different GST returns of FY 2017-18 will be auto populated and can be seen
  • The missing sales liabilities i.e. in case any sales liability is missed in any GST Return of 2017-18 can be declared while filling Annual GST Return
  • The false inputs i.e. the inputs which has been taken in FY 2017-18 but the corresponding party has not shown the same in their return should also be declared in Annual GST Return as additional sales liability

Input Tax credit (ITC)in Annual GST Return

  • The Input tax credit taken in GST Returns of 2017-18 and matches with GSTR 2A is auto populated in Annual GST Return figure
  • Additional Input Tax credit cannot be declared and taken in Annual GST Return

Reverse Charge

Reverse charge paid in FY 2017-18 is reflected in ITC ledger while filling Annual GST Return. This is required to be reconciled while filling Annual GST Return 

GST Payment Figure

The GST paid for the whole year of FY 2017-18 while filling GSTR 3B including break up of CGST, IGST and SGST along with penal interest and late fees are reflected at the time of filling Annual GST Return

Other important points about GSTR 9

  • Maximum figures related to GSTR 9 as mentioned above is auto populated from system and there is very little scope of new entry . Taxpayer is not allowed to change any figure auto populated from the system . There is no scope of modification of existing figures. Only these figures may be reconciled with books of accounts of FY 2017-18
  • GSTR 9 once filed cannot be changed and hence due care is required to be taken while filling  the same
  • Only additional sales liabilities can be declared in GSTR 9 and entered
  • In case any ITC is claimed in 2017-18 in GSTR 3B but the same is not available in GSTR 2A at the time of filling GSTR 9 then the same must be declared as additional sales liability otherwise the GSTR 9 cannot be filed
  • In case any ITC is missed out in 2017-18 the same cannot be claimed while filling GSTR 9
  • All GSTR 3b and GSTR 1 of 2017-18 should be filed before filling GSTR 9. GSTR 9 cannot be  filed in case any GSTR 3B or GSTR 1 is outstanding for 2017-18
  • NIL GSTR 9 can also be filed in case of no transaction for the FY 2017-18
  • It is suggested that GSTR 9 should be reconciled with Income tax Return of FY 2017-18 for ascertaining the Liability part
  • There is a late fine of RS. 100/- per day per category of taxes for delayed filling of GSTR 9
  • Additional payment of GST for additional Sales Liabilities is possible by generating payment challan in GSTR 9

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