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Clarificatory changes in regard to which Annual Return/Reconciliation statement is to be submitted

Clarificatory changes in regard to which Annual Return/Reconciliation statement is to be submitted

    SUMMARY OF PRESS RELEASE ISSUED ON 22.12.2018

The government has issued some clarificatory changes that shall be carried out in the formats/instructions according to which the annual return/reconciliation statement is to be submit

- Amendment of headings in the forms to specify that the return in FORM GSTR-9 & FORM GSTR-9A would be in respect of supplies etc. ‘made during the year’ and not ‘as declared in returns filed during the year;

- All returns in FORM GSTR-1 & FORM GSTR-3B have to be filed before filing of FORM GSTR-9 & FORM GSTR-9C;

- All returns in FORM GSTR-4 have to be filed before filing of FORM GSTR-9A;

- HSN code may be declared only for those inward supplies whose value independently accounts for 10% or more of the total value of inward supplies;

- Additional payments, if any, required to be paid can be done through FORM GST DRC-03 only in cash;

- ITC cannot be availed through FORM GSTR-9 & FORM GSTR-9C;

- All invoices pertaining to previous FY (irrespective of month in which such invoice is reported in FORM GSTR-1) would be auto-populated in Table 8A of FORM GSTR-9;

- Value of “non-GST supply” shall also include the value of “no supply” and may be reported in Table 5D, 5E and 5F of FORM GSTR-9;

- Verification by taxpayer who is uploading reconciliation statement would be included in FORM GSTR-9C. ted by the taxpayers:

- Amendment of headings in the forms to specify that the return in FORM GSTR-9 & FORM GSTR-9A would be in respect of supplies etc. ‘made during the year’ and not ‘as declared in returns filed during the year;

- All returns in FORM GSTR-1 & FORM GSTR-3B have to be filed before filing of FORM GSTR-9 & FORM GSTR-9C;

- All returns in FORM GSTR-4 have to be filed before filing of FORM GSTR-9A;

- HSN code may be declared only for those inward supplies whose value independently accounts for 10% or more of the total value of inward supplies;

- Additional payments, if any, required to be paid can be done through FORM GST DRC-03 only in cash;

- ITC cannot be availed through FORM GSTR-9 & FORM GSTR-9C;

- All invoices pertaining to previous FY (irrespective of month in which such invoice is reported in FORM GSTR-1) would be auto-populated in Table 8A of FORM GSTR-9;

- Value of “non-GST supply” shall also include the value of “no supply” and may be reported in Table 5D, 5E and 5F of FORM GSTR-9;

- Verification by taxpayer who is uploading reconciliation statement would be included in FORM GSTR-9C

Please read more: http://pib.nic.in/PressReleseDetail.aspx?PRID=1557060

 

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