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CBIC's press release clarifies 8 important queries of trade & industry wrt form GSTR-9.
CBIC's press release clarifies 8 important queries of trade & industry wrt form GSTR-9.
The press release is published on Jun 3 2019. In it, the CBIC has clarified major queries like - - in point 'f' CBIC states that you can correct the auto populated data in table 4 so that the data matches with your GST returns filed/books of accounts maintained. - in point 'e', CBIC directs you to declare the outward supplies which you didn't declare earlier in GSTR 1 and GSTR 3B.You should declare it in Pt II of GSTR 9. Please read them (and more) in the below section.
Trade and Industry of India is filling and filing its Annual Return in 2018 Form GSTR 9 for the first time.
It has many unsolved queries on GSTR 9. CBIC has never shied and has always guided the industry with its best vigour.
This time again, CBIC has published a press release and clarified 8 major queries.
I am writing my helpful bits (remarks) below. And after my bits, I have attached the PRESS RELEASE.
MY HELPFUL BITS:
CBIC has clarified the following:
- You can manually correct the auto populated data.
- auto-population of data isn't conclusive.
- auto-population is provided for taxpayer facilitation purposes only.
- don't worry with mismatch between auto-populated data and data in your returns/books. Just go ahead and correct it.
- Please report supplies according to the period in which the tax was paid on them through GSTR-3B. So, if you paid tax on a supply in May 2018,
- then please report this supply in Pt V of GSTR-9 and not in Pt II and
- you should follow this even if you declared otherwise in GSTR-1.
- If you haven't declared a supply earlier, then
- please declare the supply in part II of GSTR-9.
- please deposit the tax liability on undeclared supplies in form DRC-03.
- please report the payments made through Form DRC-03 in Form GSTR-9C and not in GSTR-9.
- If you have declared any FY 2017-18 transaction in your returns between April 2018 to March 2019 (including amendments that you furnished in Table 10 and Table 11 of form GSTR-1) then please report them in Pt V of GSTR-9.
- Please report your tax payments made through DRC-03 in form GSTR-9C, and not in GSTR 9.
- Please note that in case of Input tax credits
- Table 8A of form GSTR-9 auto-populates the ITC contained in form GSTR-2A (till May 1 2019),
- You should declare ITC on inward supplies from April 2018 to March 2019 in Table 8C of Form GSTR-9.
- Please fill your entire credit availed on import of goods fro July 2017 to March 2019 in table 6(E) of form GSTR-9.
And here is the copy of PRESS RELEASE.
