Care is very important while filling GSTR 9

- Sales Tax : Soham Mashruwala

An annual form is required to be filed by the supplier under the GST law. The supplier's Rs. Suppliers having a turnover of more than 2 crores have to file GSTR 9 annually with the last date being 31-12-2022. For the financial year 2021-22. Furthermore, the supplier whose turnover is Rs. Suppliers above 5 crores have to file reconciliation statement in GSTR 9C which last date is 31-12-2022. For the financial year 2021-22. Today's article discusses the care and new mandatory details for filing GSTR 9/9C.

New Mandatory Details for GSTR 9

Till now writing HSN/SAC code of external supply was required to be shown in GSTR 1 only. Henceforth it is mandatory to show this detail in GSTR 9. From the financial year 2021-2022, the government has further extended the deadline for the pending tax credit or external supply amendment of the financial year 2021-22 till November 2022 which has been given effect by the government in GSTR 9 yet. It is mandatory to write HSN code of 6 characters or 8 characters according to the turnover of the supplier.

Other details

A special note is that the amount of tax which is to be shown in Table 6 in the GSTR9 annual return has to be shown in different columns as per transaction. Capital goods tax is to be shown separately. Tax credit on import purchases and tax credit on import capital goods have to be shown separately. In case of amalgamation, or demerger, the amount is to be shown separately when the tax is charged through the Specimen ITC-02 form. In Table 6 of GSTR9.

Tricky questions of GSTR9

Tax credits higher than GSTR3B cannot be claimed in GSTR9. The same amount as shown in the forms should be shown for tax purposes. Audit assessment of GST is currently going on. Now, if there is any reverse charge due for the financial year 2021-22 and the amount is shown in GSTR9, the suppliers will be spared the penalty of 15% and the amount will be considered as paid under Section 73 of the GST Act. Similarly one can get exemption from penalty by showing in GSTR 9 the amount of wrong tax claimed. Any amount overfilled in GSTR 3B is not realized at the time and is noticed at the time of annual return, this change can be shown in GSTR9 and refund can be applied for. Explanations can be given in GSTR9C if there is any deficiency in filling GSTR9. GSTR9 and GSTR9C cannot be revised.