Ï ¬ guqers ue% Ï We dedicate this manuscript to our teacher
Late CA. O.P. Maheshwari Ji (Jodhpur), whose style of nurturing pupils like us, changed the life of numerous families
We are also thankful for the enlightening Shri B.M. Biyani Ji, ITAT- Indore
Shri Gaurav Dixsit, Chartered Accountant, Delhi
Shri Sarthak Jain, Academician - IND AS and Auditing Standards, Indore Shri Ravi Taori, Academician - Auditing Standards, Nagpur Shri Mukesh Shah, Chartered Accountant, Bangalore
We feel gratitude to friends whose affection uplifts us
Shri Krishna Kumar Ramawat, IRS, Under Secretary, Department of Revenue, Ministry of Finance, New Delhi
Shri Jagdish Agal Chartered Accountant Churchgate, Mumbai
Shri Arpit Kabra, Secretary of WIRC of ICAI, Mumbai
Shri Deepak Kumar Ajmera, CFO, Elpro International Limited
Shri Manish Kumar Gupta, Chartered Accountant, Expert Real Estate, Navi Mumbai
Shri J.L. Nagori, Director, Transrail Lighting Ltd., Mumbai
Shri Gagan Jain, Trader, Treasury Funding and Investment Desk, Barclays Bank, PLC, India Shri Abhishek Nagori, Chartered Accountant, Vadodara
Locator of Various Topics in this Book Authors’ Note: In order to facilitate in finding the quick referencing in the book directly, we are sharing the important aspects of preparation of GSTR-9/9A/9C and its location. Sl. No.
Issue
Locate
1.
Applicability of GSTR-9 and 9C Refer Chapter 12 of FY 2022-23
2.
Whether GSTR-9A is applicable Refer Chapter 28
3.
4.
5.
6.
7.
8. 9.
10.
Due Date of GSTR-9/9A/9C of Refer Chapter 3 FY 2022-23
Consequences of delayed filing Refer Chapter 2
Case Study on outward supplies Refer Chapter 4
Case study on ITC
Optional Table of GSTR 9
Optional Table of GSTR-9C Steps of preparing GSTR-9
Steps of preparing GSTR-9C
Refer Chapter 5
Refer Chapter 17
Refer Chapter 34 Refer Chapter 18 Refer Chapter 35
I-19
Remarks
When the aggregate turnover of FY 2022-23 exceeds INR 2 Cr, GSTR-9 is applicable. If it exceeds 5 Cr then GSTR-9C is also applicable.
͵ͳ ʹͲʹ͵ ȋ ͺͲȌ
Aggregate turnover of up to 5 Cr in the relevant FY: 0.4% of turnover or INR 50 per day
Aggregate turnover exceeds 5 Cr in the relevant FY: 0.4% of turnover or INR 100 per day
a. Table 5H to 5K
b. Table 7A to 7E (can be shown Ȍ c. Table 12, 13, 15, 16, 18
Table 14
I-20 Sl. No. 11.
12.
13.
Issue
LOCATOR OF VARIOUS TOPICS IN THIS BOOK
Locate
Check list
Refer in beginning part of this book
Updated form of GSTR-9/9C
Refer Appendices
Computation of aggregate turn- Refer Chapter 13 over
Remarks
Illustrative Requirements for Preparing GSTR-9 and GSTR-9C Sl. No.
Requirement
Remarks General
1.
Financial Statements
3.
Summary Copy of yearly GSTR-1, yearly It is to be downloaded from GST Portal. GSTR-3B and Draft Copy of GSTR-9
2. 4.
1.
2.
Audit Report, Tax Audit Report, Cost Audit Report
Annual Report, wherever applicable
Details of any notices and replies along with Impact of the same should be examined the working thereof. while furnishing the GSTR-9/9C. Outward Supplies
Reconciliations For outward Supply:
Type 1: GSTR-1- GSTR-3B - Books-EWB ȋ Ȍ Ǧ Ƭ Ǧ ʹ Ǥ
Type 2: Ledger in Books for GST liability of each month and GST liability register as per GST Portal. Carry forward Details
• Invoices, debit notes, credit notes of FY 2021-22 declared in GSTR-1 and GSTR-3B for the period from April2022 to Oct 2022: Check Tables 10 and 11 of GSTR–9 of FY 2021-22.
• Invoices, debit notes, credit notes of FY 2022-23 declared in GSTR-1 and GSTR-3B for the period from April 2023 to Oct 2023: To be shown in Tables 10 and 11 of GSTR–9 of FY 2022-23.
I-21
I-22
ǧͻ ǧ ͻ
Sl. No. 3.
4. 5. 6.
Requirement
Remarks
Amendments done in respect of the invoices, debit notes and credit notes declared in GSTR-1 and adjustments done in GSTR-3B for the period from April 2023 to Oct 2023: To be declared in Tables 10 and 11 of GSTR – 9.
Need to check whether the amendment Ǧͳ ϐ GSTR-3B in done on or before 30th Nov of next FY as per sections 37(3) and 39(9).
Rate-wise outward supply, including tax paid under RCM through Form GSTR – 3B: To be shown in Table 9 of Form GSTR – 9C Invoices and debit notes for which GST liability is paid through DRC–03 during FY 2022-23.
HSN-wise summary of outward supplies to be declared in GSTR–9 in Table 17 of GSTR–9: a. Turnover of more than ` 5 Crores – 6 Digit level HSN code for all supplies.
7.
b. Turnover less than ` 5 Crores – 4 Digit level HSN code for B2B supplies.
Closing balance of advances received during the relevant FY but not adjusted till the end of same FY. ITC
1.
Reconciliations For ITC: Type 1: For ITC:
Ǧ͵ Ǧ Ǧ ȋ Ȍ Ǥ
Type 2: For ITC:
2.
Ledger in Books for GST ITC of each month and GST ITC Ledger as per GST Portal Carry forward Details
ITC availment/reversal of FY 2021-22 declared in GSTR – 3B for the period from April 2022 to Oct 2022: Check Tables 12 and 13 of GSTR-9 of FY 2021-22.
ITC availment/reversal of FY 2022-23 declared in GSTR-3B for the period from April 2023 to Oct 2023: To be shown in Tables 12 and 13 of GSTR–9 of FY 2022-23.
Sl. No. 3. 4. 5.
ǧͻ ǧ ͻ
Requirement
ITC reversed and paid through GSTR-3B and DRC–03 during FY 2022-23. ITC subject to RCM.
Details of Import of goods etc.
Remarks
I-23
Contents PAGE
Know Your Authors
ǧͻ
Key considerations while performing the working for annual return and reconciliations [FY 2022-23]
ǧͽ
Locator of various topics in this Book
ǧͷͿ
Illustrative Requirements for Preparing GSTRǦͿ GSTRǦͿ
ǧͷ
ǦͿȀͿ ǦͿ
ǧͻ
CHAPTER 1 List of Governing Provisions
ͷ
CHAPTER 2 Legal consequences of wrong filing/non-filing of GSTR-9 and GSTR-9C CHAPTER 3 Annual Return and Reconciliation Statement: Fortune Maker of Registered Person CHAPTER 4 Case Study on Outward Supply in GSTR-9 CHAPTER 5 Case Study on Inward Supply in GSTR-9
CHAPTER 6 Walkthrough for professionals to perform GSTR-9/9A/9C
CHAPTER 7 Annual Accounts vs. Annual Return vs. Reconciliation Statement I-35
6
Ϳ
ͷ
20
24
Ϳ
I-36
CONTENTS
CHAPTER 8 Applicability of Annual Return and GSTR-9C (Year wise comparison) CHAPTER 9 Turnover: A Ticklish Sound in GST Regime CHAPTER 10 Issues in Accounting w.r.t. GST
CHAPTER 11 Looking at Financial Statements for GST Annual Return and Reconciliation Statement CHAPTER 12 Segments of Annual Return - GSTR-9 (Regular Scheme) CHAPTER 13 Your Steps for preparing GSTR-9
CHAPTER 14 Advanced FAQs on Annual Return
CHAPTER 15 Basics of Annual Return with Practical Issues CHAPTER 16 Part I of GSTR-9: Basic Details
CHAPTER 17 Part II of GSTR-9: Details of outward and inward supplies declared during the financial year CHAPTER 18 Part III of GSTR-9: Details of ITC for the financial year
CHAPTER 19 Part IV (Form 9) : Details of tax paid as declared in returns filed during the financial year
PAGE
33
38
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;ͷ
;ͻ
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CONTENTS
CHAPTER 20 Part V : Particulars of the transactions for the financial year declared in returns of the next financial year till the specified period CHAPTER 21 Part VI : Other Information
CHAPTER 22 Segments of Annual Return (Composition Scheme)
CHAPTER 23 GSTR-9A: Is it really applicable and basics of annual return (Composition) with practical issues CHAPTER 24 Part I of GSTR-9A: Basic Details
CHAPTER 25 Part II of Form 9A: Details of outward and inward supplies declared in returns filed during the financial year CHAPTER 26 Part III: Details of tax paid as declared in returns filed during the financial year
CHAPTER 27 Part IV: 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 CHAPTER 28 Part V: Other Information
CHAPTER 29 Segments of Form GSTR-9C
CHAPTER 30 Your steps for preparing GSTR-9C
CHAPTER 31 Basics of Reconciliation Statement with practical issues
I-37 PAGE
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202
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228
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233
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242
244
I-38
CONTENTS
CHAPTER 32 Part I of Reconciliation Statement: Basic Details
CHAPTER 33 Part II of Reconciliation Statement: Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR-9) CHAPTER 34 Part III: Reconciliation of tax paid CHAPTER 35 Part IV: Input Tax Credit (ITC)
PAGE
246
248
ͽͿ
282
CHAPTER 36 Part V: Additional liability due to non-reconciliation
Ϳ
APPENDICES
Form GSTR-9
Ϳͽ
Clarification on filing of annual return (Form GSTR-9)
ͽ
Clarification regarding Annual Returns and Reconciliation Statement
ͷ
Form GSTR-9A Form GSTR-9C
GSTN Clarification: Issues reported in filing Form GSTR-9C by the taxpayers Clarification regarding optional filing of annual return under Notification No. 47/2019-Central Tax, dated 9th October, 2019
Clarification by GST Network on 17-8-2020 on Table 8A of Form GSTR-9 FAQs on GSTR-9
Letter of acceptance given by professionals for Compilation Engagement and responsibility of Management z Engagement Letter z z z
Appointment Letter
Cover Letter of Compilation Report Compilation Report
ͷ ͷͽ
Ϳ
334 336 ͽ 342 342 343 344 344
GST ANNUAL RETURN & RECONCILIATION AUTHOR PUBLISHER
: VIVEK LADDHA , SHAILENDRA SAXENA , POOJA PATWARI : TAXMANN
DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE
: : : : :
DECEMBER 2023 6th Edition 9789357782494 384 PAPERBACK
Rs. 995 | USD 42
DESCRIPTION This book covers a comprehensive ‘clause-by-clause analysis’ of GSTR 9, 9A & 9C in the form of the following: • Case Studies • Advanced FAQs • Step-by-step Guides, etc. It also deals with issues relating to Anti-profiteering & policy mismatches in GST and Accounting Standards. This book will be helpful for GST Professionals' engagement in advisory, compliance, and litigation services. The Present Publication is the 6th Edition and is updated till November 2023. It also covers amendments in GSTR 9 and 9C vide Notification No. 38/2023-CT, dated 04-08-2023. Lastly, it also includes a reference to changes in GSTR 3B on 05-07-2022, along with Circular No. 170/02/2022-GST, dated 06-07-2022. This book is authored by Adv. Vivek Laddha, Dr Shailendra Saxena & CA Pooja Patwari with the following noteworthy features: • [40+ Case Studies on GSTR 9] This book exhaustively covers the number of case studies in separate chapters for Outward Supply and ITC so that executors can understand the impact of data in preparing the annual return of FY 2021-22 declared in the return of FY 2022-23 and the impact of data of FY 2022-23 declared in the return of FY 2023-24 • [50+ Advanced FAQs & Practical Issues] for GSTR 9 and 9C • [Check List] for Outward & Inward Supply • [Item-wise Cross Examination] of Financial Statements • [Linking AS and Ind AS with GST Provisions] • [Pre-requirements for Preparing GSTR 9 & 9C] • [Steps for Preparing GSTR 9 & 9C] are also included in this book • [Walkthrough for Professionals] for GSTR 9 & 9C • [Key Considerations while Performing GSTR 9 and 9C for FY 2022-23] • [Mapping of Various Incomes of Financial Statements] with Supply and Aggregate Turnover
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