gst-annual-return-filing

Part 1: A taxpayer’s inbound and outgoing supplies, ITC, tax paid, and other factors that affect their yearly tax burden are all covered under the GSTR 9 format. Here is a list of the many fields you must complete in each of the six sections:

The GSTR 9 format’s first section requires important details including your fiscal year, GSTIN, legal name, and trading name (if any).

Part 2: Details On Stated Outbound And Inbound Supplies For The Fiscal Year

To gather information on various sorts of transactions, the second component of the GSTR9 format is split into two parts.

You must list any advances, purchases, or sales supplies that are tax-exempt in Section 4. Enter the taxable value, CGST, SGST, IGST, and cess value for the following:

• Provisions granted to unregistered individuals (B2C).
• Provisions provided to registered individuals (B2B).
• Taxed zero-rated supplies that have already been exported (except supplies made to SEZs).
• Tax-free supply to Special Economic Zones.
• Imports that are deemed to be exported.
• Advances for which the tax has been paid, but no invoice has been issued (excluding those
• mentioned in the above categories).
• Invest in supplies that are subject to the reverse charge tax.
• The sum of the transactions is listed in lines A through G.
• Any credit notes issued in connection with the transactions mentioned above.
• Any debit notes issued in connection with the transactions above.
• Taxes or supplies declared as a result of any amendments.
• Taxes or supplies are decreased as a result of any amendments.
• The sum of the transactions listed in lines I through L.
• Taxable supplies and advances from lines H and M are already mentioned.

Information on sales supplies for which no tax is owed, as reported on returns filed during the fiscal year, is requested in Section 5. The same information applies to the taxable value, federal, state, and local taxes, integrated tax, and cess value fields:

• Zero-rated supply that was exported without being taxed.
• Tax-free supplies to special economic zones.
• Supplies for which the recipient is responsible for paying the reverse charge tax.
• Sales supplies are exempt.
• Sales supplies with no rating.
• Non-GST sources of supply.
• The sum of the transactions listed in lines A through F.
• Any credit notes issued in connection with the transactions mentioned above.
• Any debit notes issued in connection with the transactions mentioned above.
• Any amendments to the declaration of supplies.
• Any amendments to the supply chain have resulted in a reduction in supply.
• The sum of the transactions listed in lines H through K.
• The amount of turnover that is tax-free from lines G and L above.
• N is the entire amount of turnover, including all advancements (4N + 5M – 4G above).

Part 3: ITC details as reported in tax returns submitted throughout the fiscal year

The third component of the GSTR-9 form is broken down into three questions about your ITC balance. You must specify any ITC claims you made in the returns you submitted throughout the financial year in Section 6 of your tax return. The following values should be entered for federal, state, integrated taxes, and cess:

• Amount of ITC claimed through GSTR-3B in total.
• The supplies purchased for inputs, capital products, and input services (excluding imports
• and those purchase supplies that are liable to reverse charge, but including services received from SEZs).
• Purchase supplies received from unregistered people for inputs, capital goods, and input services that are subject to reverse charge and for which tax has been paid, and ITC has been claimed, except those listed in line B above.
• Purchase supplies obtained from registered individuals for inputs, capital goods, and input services that are subject to reverse charge and for which tax has been paid, and ITC has been claimed, except those listed in item B.
• Imported goods for inputs and capital goods, including supplies from SEZs.
• Imported services, excluding SEZ purchases of materials.
• The ITC that the ISD has given you.
• The amount of ITC reclaimed under the CGST Act (other than that indicated in line B above).
• The subtotal for lines B through H in the previous paragraph.
• The distinction between lines I and A is (I – A).
• Any modifications to the transition credit indicated in TRAN-I.
• In TRAN-II, the transition credit is indicated.
• Any other ITC that has been obtained but is not listed in any of the preceding sections.
• Subtotal of Lines K to M
• The combined ITC for lines I and N.

For the reversed ITC and ineligible ITC on the central and state taxes, integrated tax, and cess value, you must enter the following information in Section 7:

The ITC is reversed in situations when consideration is not paid (Rule 37).
according to Rule 39’s ITC allocation procedure for the ISD.
According to ITC (Rule 42), in terms of inputs or input services, and in reverse.
Regarding capital goods and the reverse, in accordance with ITC (Rule 43).
Referring to Section 17(5)’s prohibited credits for the GST.
The reversed credit described in TRAN-I. G. The reversed credit described in TRAN-II.
Specifications for any additional reversals.
The total ITC that has been reversed mentioned in lines A through H above.
Section 6 line O less Section 7 line I equals the net ITC that is usable.

Additional ITC-related details will be requested of you in Section 8. The following values should be entered for federal, state, integrated taxes, and cess:

• The ITC as specified in GSTR-2A.
• The total of the ITC from lines 6B and 6H.
• In addition to imports and inward supplies subject to reverse charge, the ITC on sales supplies is available. Include services obtained from SEZs in 2017-2018 but used between April and September.
• The difference between lines A and B, as well as line C. [(A + B + C) – A]
• The ITC from line D is available but has not been used.
• The ITC from line D above that is accessible but ineligible.
• The IGST levied on commodities imported into the country, including special economic-zone supplies.
• The IGST credit is claimed on items imported, as specified in line 6E.
• The distinction between lines G and H (I). (G-H) (G-H) (G-H) (G-H
• The ITC is available but not used on items imported (it should be equal to the line I).
• The total ITC value has passed its expiration date or is no longer applicable for the current fiscal year. (E, F, and J)

Information Regarding Taxes Paid As Reported In Returns Filed During The Fiscal Year is in Part 4

You can enter all the information on the taxes you paid and declared in returns that were submitted throughout the financial year in this area of the form.

Part 5: Details of Transactions for the Prior Fiscal Year Disclosed in Returns from April through September of the Present Fiscal Year or Up to the Filing Date of the Previous Fiscal Year’s Annual Return, whichever occurs first.

You can list all of the information concerning transactions during the prior fiscal year in Section 10. Fill in the taxable value, federal and state taxes, integrated tax, and cess value for the following:

• The supplies or taxes that have been declared due to amendments.
• The cost of the supplies or the tax is reduced due to modifications.
• The reversal of ITC received in the prior fiscal year.
• The ITC received in the prior fiscal year.

After completing the lines above, pay for the following items and fill in the various taxes due:

• The total taxable value (IGST).
• The value of the central tax (CGST).
• The value of the state (SGST) or UT tax.
• The amount of the cess.
• The interest rate.