Handbook on GST Annual Return - Amazon Web Services

1 Handbook on GST Annual Return The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New delhi The Institute of Chartered Accountants of India All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means electronic, mechanical, photo-copying, recording, or otherwise, without the prior permission, in writing, from the publisher. All disputes are subject to delhi jurisdiction only. DISCLAIMER The view expressed in this Guide are of the author(s). The Institute of Chartered Accountants of India may not necessary subscribe to the views expressed by the author(s) The information cited in this Guide has been drawn primarily from the and other sources. Readers are requested to understand that Sl. Nos / Table nos etc., wherever mentioned refer to the appropriate part / table of the relevant Forms.

2 Names, GSTIN etc., if any, stated in this book of any person or entity is only for proper understanding in the context of the discussion and does not intend to mean anything else. Assumptions stated are to be understood in the context of the discussion and cannot be applied to a real time situation mutatis mutandis. While every effort has been made in this guide to avoid any kind of errors or omissions. Despite meticulous effort having been put in, it is possible that errors may have crept in. Any mistake, error or discrepancy noted by the reader may be brought to the notice of the Institute of Chartered Accountants of India, New delhi and thereafter, if required, suitable edits / corrections shall be effected in the next edition. It is notified that neither ICAI nor the Indirect Taxes Committee, or publisher or sellers will be responsible for any damage or loss to anyone of any kind or in any manner whatsoever if the contents of this book are used.

3 It is suggested that to avoid any doubt the reader should cross-check all the facts, law and contents of the publication with original Government / ICAI publications or notifications. First Edition : May, 2019 Committee/Department : GST & Indirect Taxes Committee E-mail : Website : ; Price : ` 225/- ISBN : 978-81-8441-957-3 Published by : The Publication Department on behalf of the Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New delhi - 110 002. Printed by : Sahitya Bhawan Publications, Hospital Road, Agra - 282 003. February/2018/P2226 Foreword The submission and processing of Return is an important link between the taxpayers and tax administration. Section 44 of the Central Goods & Services Tax (CGST) Act, 2017 stipulates that every registered person shall furnish an Annual Return for each financial year. Annual Return is a consolidation of returns filed GSTR 1 and GSTR 3B, by the taxpayer for the financial year.

4 It will contain details of inward and outward supply along with tax payments with an option to report additional liability, if any. GST Annual Return filing is mandatory for all entities having GST registration, irrespective of turnover during the financial year. Hence, even businesses that have obtained GST registration and having even NIL turnover must file Annual Return . GST registration holder who has obtained the registration anytime before 1st April 2018 are required to file GST Annual Return for the financial year 2017-18 on or before 30th June 2019 in form GSTR 9 notified by the CBIC which contains VI Parts and 19 Tables and similarly GSTR-9A for composition dealer. Being a partner in GST Knowledge Dissemination, the GST & Indirect Taxes Committee of ICAI has come out with this publication namely Handbook on GST Annual Return which contains the detail analysis of Form GSTR-9 and GSTR-9A in a comprehensive manner for each table of the forms.

5 I appreciate the efforts put in by the Chairman, Vice-Chairman and other members of the GST & Indirect Taxes Committee of ICAI for undertaking this tedious task and coming out with this Handbook . I hope this publication will be beneficial to all the readers and assist them in their professional endeavours. Date: CA. Prafulla P. Chhajed Place: New delhi President, ICAI Preface The Goods and Services Tax was introduced in July, 2017 by replacing 17 Central and State taxes, which enable the removal state border virtually and creation of common market. Since then the tax payers have been filing monthly/quarterly Return reporting therein inward and outward supplies made by them and taxes paid thereon. Every registered taxpayer under GST, now are required to file Annual Return for the period 1st July, 2017 to 31st March, 2018 by 30th June, 2019 in Form GSTR 9/9A depending on whether they are regular dealers or composition dealers.

6 The Institute of Chartered Accountant of India has been regularly supporting the Government, its members and other stakeholder by disseminating GST knowledge through its technical publications, Certificate Course, programme and conferences. The effort of the Institute has recently been recognised by the Goods and Services Tax Network which felicitated the Institute on the occasion of its foundation day on 5th April, 2019 at New delhi . Now, considering the importance of filing of Annual Return to provide support and to help tax payers in filing their Annual Return for the first time, the GST & Indirect Taxes Committee of the Institute has brought out this Handbook on GST Annual Return . An attempt has been made to guide about each and every information sought in the Annual Return . We are happy to acknowledge the support of CA. A. Jatin Christopher, CA. S. Venkatramani, CA.

7 Gaurav Gupta and assistance provided by members of the Study Group in Kolkata and Chennai CA. D S Agarwala, CA. Gagan Kedia, CA. Vikash Kr. Banka, CA. Sahib Singh Chowdhary, CA. Abhishek Agarwal, CA. Madhulika Jain, CA. Anshuma Rustagi, CA. Amit Jain and CA. J. Purushothaman, CA. R Subramanian, CA. B Ganesh Prabhu, CA. Shankara Narayanan, CA. Viral, CA. J Murali, CA. Yashwanth, CA. G Subashini, CA. Sampath Kumar and others members of the committee. I also appreciate the dedicated efforts of entire Secretariat of GST & Indirect Taxes Committee. The users are welcomed to a professionalized learning experience in GST and are encouraged to provide suggestions for the improvement of this Handbook at the link at . CA. Rajendra Kumar P. Vice-Chairman GST & Indirect Taxes Committee CA. Sushil Kumar Goyal Chairman GST & Indirect Taxes Committee Place: delhi Date: Contents S.

8 No. Title Page No. 1. Introduction to GST Annual Return 1-4 2. Analysis of GSTR 9 5-164 Part I: Basic Details (Table 1-3B) 5-8 Part II; Details of Outward and inward supplies made during the financial year (Table 4-5) 9-64 Part III: Details of ITC for the financial year (Table 6-8) 65-116 Part IV; Details of tax paid as declared in returns filed during the financial year (Table 9) 117-122 Part V: Particulars of the transactions for the previous FY declared in returns of April to September of current FY or upto date of filing of Annual Return of previous FY whichever is earlier (Table 10-13) 123-134 Part VI: Other Information (Table 15-19) 135-162 3. Analysis of GSTR 9A 165-180 Appendices 181-201 Appendix 1: Form GSTR 9 181-194 Appendix 2: Form GSTR 9A 195-201 Chapter 1 Introduction to Annual Return Reference to the Central Goods and Services Act, 2017 (CGST Act, 2017), wherever stated, must be understood to mean and include the respective State Goods and Services Tax Act, 2017/ Union Territory Goods and Services Tax Act, 2017 (SGST Act, 2017 / UTGST Act, 2017) and wherever applicable, the Integrated Goods and Services Tax Act 2017 (IGST Act, 2017).

9 While every care has been taken to include the relevant rules , certain portions may have to be read and understood along with rules framed with respect to the respective State / UT / IGST legislations. Introduction GST is a value - added tax levied at all points in the supply chain, with credit for taxes paid on goods and/or Services acquired for use in making the supply. It applies to both goods and Services in a comprehensive manner. On a macro note, it may be said that GST is a mechanism which supports self-compliance wherein the assessees assess the taxes payable by them. To ensure the correctness and veracity of the reported information, Annual Return and GST audit are required. It becomes essential to have counter checks and balances to ensure that there is no seepage of exchequer s revenue. GST principles embrace information technology and reduce the interaction with the tax administrators.

10 All entities having GST registration, except few specified categories of persons, are required to file GST Annual Return for every financial year irrespective of their turnover during the Return filing period. Hence, even a dormant business that has obtained GST registration must file GST Return . Legal provisions of GST Annual Return In order to understand the gamut of the GST Annual Return and its requirement, it would be relevant for us to understand the legal provisions relevant for GST Annual Return . Two important provisions which are relevant and important in this context are Section 44(1) of CGST Act, 2017 and Rule 80(1) of the CGST rules , 2017. Section 44(1) requires that every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an Annual Return for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year.