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GST Annual Return – All You Need To Know
Annual Return related Measures:
- Amendment in CGST Act, 2017 has been made through Finance Act, 2021 to provide for self-certification of reconciliation statement in FORM GSTR-9C, instead of previous requirement of certification of such statement by a Chartered Accountant/Cost Accountant. This amendment is applicable for the Annual return for the FY 2020-21.
- The above changes have been notified w.e.f. 01st April, 2021.
- Requirement of furnishing annual return in FORM GSTR-9 has been waived for the taxpayers with Aggregate Annual Turnover up to Rs 2 Cr for financial year 2020-21. This waiver/exemption has been further extended for FY 2021-22.
- Requirement of furnishing reconciliation statement in FORM GSTR-9C has been waived for the taxpayers with Aggregate Annual Turnover up to Rs 5 Cr for FY 2020-21.
GSTR – 9 Mandatory v/s Optional Tables for FY 2021-22 | |||
Table No | Nature of Reporting | Status | Note |
4A to 4G | Taxable Outward Supply, Tax on advances & RCM | Mandatory | – |
4I to 4L | CN, DN, Amendments with respect to 4B to 4E Supplies | Mandatory [From 21-22] | – |
5A to 5C | Zero rated Supply without payment of Tax, supplies on which Tax to be discharged by recipient | Mandatory | – |
5D to 5F | Exempted, NIL Rated & Non-GST Supply | “Exempted” and NIL” rate can be clubbed, Non-GST Supply to be shown separately [From 21-22] | – |
5H to 5K | CN, DN, Amendments with respect to 5A to 5F Supplies | Mandatory [From 21-22] | – |
6A | Auto Populated ITC based on 3B | – | – |
6B to 6D | ITC on Inward Supplies for Forward Charge & reverse Charge |
| |
6E | Import of Goods | Mandatory (Till FY 2018-19, Input & Input Capital Separately not mandated) | |
6F to 6M | Other ITC | Mandatory | – |
7A to 7E | ITC Reversal due to Raise 37, 39, 42, 43 Sec. 17(5) | Can be clubbed with 7H (with older reversals) | |
7F & 7G | ITC Reversal due to TRAN1 & TRAN2 | Mandatory | – |
8A to 8K | ITC Related Information | Mandatory (Till FY 2018-19, 8A to 8D was optional) | |
9 | Details of Tax payable & Tax Paid | Mandatory | – |
10, 11 | Outward Liability Pertaining to FY 2021-22 shown/reduced in Fy 2022-23 Till Sept 22 | Mandatory | – |
12, 13 | ITC pertaining to FY 2021-22 reversed/shown in FY 2022-23 Till Sept 22 | Optional (Not Advisable) | – |
15, 16 | Info of Demands & refunds, Inward Supplies | Optional | – |
17 | HSN for Outward Supply | Mandatory [From 21-22] [T0>5Cr, at 6 Digit level for all supplies | T0<5Cr, 4 Digit level for B2B Supplies Only] | |
18 | HSN for Inward Supply | Optional | |
GSTR – 9C Mandatory v/s Optional Tables for FY 2021-22 | |||
Tables | Nature of Reporting | Status | Note |
5A | Turnover as per Audited Books | Mandatory | – |
5B to 5O | Adjustments related to Turnover | Can be clubbed in 5O | – |
7A to 7F | Reco. From Total Turnover to taxable Turnover | Mandatory | – |
9A to 9Q | Reco. of Tax Paid | Mandatory | – |
12A to 12D | Reco. Of ITC between Books v/s GSTR9 | Mandatory [From 21-22] [12B & 12C were optional till 20-21] | |
Table 14 | Expense head with ITC Reconciliation | Optional | – |
Get Yourself Assured before Filling GSTR-9 for FY 2021-22
GSTR9 Arithmetical Accuracy Checks | |||
Sr. No. | Reference | Formula: | To be checked with: |
1 | OUTWARD LIAB | Table 4’s Tax’s Outcome / Total | To be match with Table 9’s “Tax Payable” [Edit Manually in Table 9 if changed in Table 4] |
2 | OUTWARD LIAB | [Table 5N] PLUS [Table 10] MINUS [Table 11] | To be Matched with Actual [Audited] Liability |
3 | OUTWARD LIAB | Table 9’s Tax Payable MINUS Tax paid via cash & Tax paid Via Credit | If Not Zero, then Prepare Reco due to reasons, such as:
|
4 | INWARD ITC | [Table 7J] – [Table 12] + [Table 13] | To be Matched with Actual [Audited] ITC |
5 | INWARD ITC | ITC Taken as per 3B Table 6A MINUS Actual ITC now taken in GSTR9(Diffas per Table 6J) | The Diff can be due to following reasons:
Note: GSTR-9 doesn’t allow to reverse the wrongly taken ITC in Table 6/7. however, if reduced and paid through DRC-03, then that will be much better way to present the data. |
6 | [Table 10] – [Table’ll] | To be Matched with Table 14’s CGST, SGST, IGST and CESS |
Syncing of data between FY 2020-21 & FY 2021-22
(Since Data uploaded of FY 2020-21 in “3B/G1 of FY 2021-22” should not be the part of FY 2021-22’s GSTR-9)
Sr. No. | Reference | Formula: | To be checked with: |
7 | OUTWARD LIAB | [Table 10] MINUS [Table 11] of FY 2020-21 | To be matched with FY 2021-22’s Table 9’s Liability MINUS Tax paid through Cash and Credit [Along with difference due to other reasons mentioned in SR No 3] |
8 | INWARD ITC | [Table 13] MINUS [Table 12] of FY 2020-21 | To be Matched Difference found in Table 6J of GSTR9 of FY 2021-22 [Along with difference due to other reasons mentioned in SR No 5] |
- These are very basic checks needs to be performed to assure yourself for arithmetical
- The above formula may work for most of the cases, but for not all the cases (for g., if Audited books of accounts does not contain all the transactions, then difference will be there)
Particulars | Figures required to be filled in Table of GSTR-9C | Figures to be taken from the Corresponding Table of GSTR-9 |
Reco. of Total Turnover with GSTR-09 | 5Q | 5N + 10-11 |
Reconciliation of Taxable Turnover with GSTR-09 | 7F | (4N-4G) +(10-11) |
Total amount paid as declared in Annual Return | 9Q | Table 9’s Tax Payable +10-11 |
ITC claimed in Annual Return (GSTR9) | 12 E | 7J |