Practical Aspects of GST ANNUAL RETURN. BY – CA GAGAN KEDIA www.mrgkedia.com Guwahati MRG KEDIA & CO. – GST TRANSITION| .

The MAHABHARATA ~The Lesson to Learn MRG KEDIA & CO. – GST TRANSITION| .

Annual Return – Relevant Provisions Purpose of GSTR-9 vs.GSTR-9C CONTENTS : Annual Return – Relevant Provisions Purpose of GSTR-9 vs.GSTR-9C Flow of Data (Books vs. 3B vs. GSTR-1). Practical Strategy MRG KEDIA & CO. – GST TRANSITION| .

Annual Return – Sec 44(1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52 , a casual taxable person and a non resident taxable person, shall furnish an annual return in FORM GSTR-9 through the common portal either directly or through a Facilitation Centre notified by the Commissioner.

Annual Return by a composition person Every registered person who is liable to pay tax under section 10 under composition levy shall furnish an annual return in FORM GSTR-9A through the common portal either directly or through a Facilitation Centre notified by the Commissioner.

Annual Return by a E – Commerce Operator Every electronic commerce operator required to collect tax at source under shall furnish annual statement in FORM GSTR -9B..

Purpose of Annual Return vs. GST Audit GSTR-9C ANNUAL RETURN GSTR-9 To Report a summary of what has been filed in GST Returns ? To Pay Balance Taxes ? (Inadvertent Mistakes) To Reconcile with Books (Genuine differences) ?

ANNUAL RETURN – FLOW OF DATA NATURE TAX DECLARED IN ? OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 BOOKS = TABLE (4 + 5) + TABLE (10 – 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 TAXES PAID Actual = FY 17-18 + FY 18-19 + FY 19-20

ANNUAL RETURN – FLOW OF DATA NATURE TAX DECLARED IN ? OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 Treatment BOOKS = TABLE (4 & 5) + TABLE (10 & 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 TAXES PAID Actual = FY 17-18 + FY 18-19 + FY 19-20 or ?

ANNUAL RETURN – FLOW OF DATA OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 BOOKS = TABLE (4 + 5) + TABLE (10 – 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + Missed Till Now TAXES PAID Actual = FY 17-18 + FY 18-19 + FY 19-20

ANNUAL RETURN – FLOW OF DATA OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 BOOKS = TABLE (4 & 5) + TABLE (10 & 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + Missed Till Now Treatment BOOKS = TABLE (6 & 7) + TABLE (12 & 13) TAXES PAID Actual = FY 17-18 + FY 18-19 + FY 19-20 or ? ?

ANNUAL RETURN – FLOW OF DATA NATURE TAX DECLARED IN ? OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 BOOKS = TABLE (4 + 5) + TABLE (10 – 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 TAXES PAID Actual Tax Paid (3B + DRC-03) = FY 17-18 + FY 18-19 + FY 19-20

ANNUAL RETURN – FLOW OF DATA NATURE TAX DECLARED IN ? OUTWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 + FY 19-20 BOOKS = TABLE (4 + 5) + TABLE (10 – 11) INWARD SUPPLIES BOOKS = FY 17-18 + FY 18-19 TAXES PAID Actual Tax Paid (3B + DRC-03) = FY 17-18 + FY 18-19 + FY 19-20 Treatment = Table 9 (Auto & Un-Editable) + Table 14 (Manual) ?

ANNUAL RETURN – FLOW OF DATA UNTOCHED TABLE TILL NOW : Table 8 - Recon Statement (Helpful for Notices) Table 15 - Reporting of Refund Status Table 16 - Certain Specific Reporting Table 17 – 18 - HSN Reporting The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

FORM GSTR-9 (Table 6 & 7) The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

FORM GSTR-9 (Table 6 & 7) The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

TABLE 4 of GSTR-3B The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

FORM GSTR-9 (Table 6 & 7) The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

FORM GSTR-9 - PART V (MOST IMPORTANT) The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

FORM GSTR-9 - Table 8 The appointed date for effective implementation of the provisions of the GST laws is 01.07.2017, i.e., from the second quarter of the financial year 2017-18. Therefore, the very applicability of the threshold limits for audit purposes, whether wholly (Rs.2 Crore) or in proportion, has not been explicitly provided for – Clarification from the Government is awaited.

CA GAGAN KEDIA, Partner – Indirect Tax THANK YOU For any queries, feel free to contact - CA GAGAN KEDIA, Partner – Indirect Tax MRG KEDIA & CO. (Chartered Accountants) Unit No. 408, 4th Floor, Kamalalaya Centre 156A, Lenin Sarani, Dharamtalla, Kol-13 www.mrgkedia.com # 98306 82188 ; cagkedia@gmail.com MRG KEDIA & CO. – GST TRANSITION| .