10 Key Changes in New GST Annual Return

10 Key Changes in New GST Annual Return

Notification No 74/2018 Central Tax : CGST (Fourteenth amendment) Rules 2018 for New GST Annual Return (GSTR 9)

File All GSTR 1 and GSTR 3B

It is mandatory to file all your FORM GSTR-1 and FORM GSTR-3B for the FY 2017 -18 before filing GST Annual Return (GSTR 9)

Additional Liability can be Declared

It may be noted that additional liability for the FY 2017-18 not declared in FORM GSTR-1 and FORM GSTR-3B may be declared in GST Annual Return (GSTR 9)

Pay Additional Liability through Cash

Towards the end of the return, taxpayers shall be given an option to pay any additional liability declared in GST Annual Return (GSTR 9) , through FORM DRC-03.

Taxpayers shall select ―Annual Return‖ in the drop down provided in
FORM DRC-03. It may be noted that such liability can be paid through
electronic cash ledger only.‖.

Unclaimed ITC can not be Calimed

Taxpayers cannot claim input tax credit unclaimed during FY 2017-18 through GST Annual Return (GSTR 9)

ITC Credit in GSTR 3B can be more than GSTR 2A

There may be circumstances where the credit availed in FORM
GSTR-3B was greater than the credit available in FORM GSTR-2A. In such cases, the value in row 8D of GSTR 9 shall be negative.

In such cases, the value in row 8D of GSTR 9 shall be negative.

ITC not claimed in GSTR 3B because ” it was Ineligible or due to any other reasons” needs to be declared

The credit which was available and not availed in FORM GSTR-3B and

the credit was not availed in FORM GSTR-3B as the same was ineligible shall be declared in row 8E and 8F of GSTR 9

HSN Wise Summary of Inward supplies

It may be noted that this summary details are required to be declared only for those inward supplies which in value independently account for 10 % or more of the total value of inward supplies.

The total credit available for inwards supplies (other than imports and inwards supplies liable to reverse charge but includes services received from SEZs) pertaining to FY 2017-18 and reflected in FORM GSTR-2A (table 3 & 5 only) shall be auto-populated in this table. This would be the aggregate of all the input tax credit that has been declared by the corresponding suppliers in their FORM GSTR-1.

“No Supply” should be treated as Non GST Supply

The value of ―no supply‖ shall be declared under Non-GST supply Row (5F) of GSTR 9 . Refer Schedule III of CGST Rules 2017 Activities which shall be treated as neither supply of goods nor supply of services 

File GSTR 9 before GSTR 9C

In case of Audit , GSTR 9 has to be filed before filing GSTR 9C

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