Notified Amendments in declaring HSN/SAC in Tax Invoice & GSTR-1

This update is regarding amendments notified in declaring HSN/SAC in Tax Invoice and GSTR-1:

1. HSN/SAC mandatory on Tax Invoices w.e.f.01-04-2021:

S. No Aggregate Turnover in the preceding Financial Year HSN/SAC to be mentioned

  • 1. more than Rs.5crores HSN Code of 6 Digits is mandatory for all tax invoices (B2B & B2C)
  • 2. up to Rs.5crores HSN Code of 4 Digits is mandatory for all B2B tax invoices.
    üOptional for B2C tax invoices

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Implication of above amendment

HSN/SAC has to be mentioned on Tax Invoices for all B2B & B2C transactions

2. Rate of Tax column added in GSTR-1 for each HSN/SAC furnished in HSN summary of outward supplies:

In column 6 of Table 12 -Rate of Tax to be declared instead of Total Value in GSTR-1of May’21and onwards

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Implication of above amendment

There is a requirement to incorporate HSN wise entries in accounting ledgers of accounting software. So that required information i.e., HSN with the rate of tax can be derived for GSTR-1.

Following Information/fields should be available from accounting records to prepare GSTR1:
HSN Description UQC Total Quantity Total Taxable Value Rate % GST-IGST/CGST/SGST

Issues Reported in Filing Form GSTR 9/9C by tax payers: Process to Follow

  • 17 Jun 2019
  • GSTR
  • Comments Off on Issues Reported in Filing Form GSTR 9/9C by tax payers: Process to Follow

For filing of Form GSTR 9/9C, by a normal taxpayer for financial year 2017-18, which is required to be filed by them on GST Portal latest by 30th June, 2019.  Taxpayers have mentioned few issues in submitting their Form GSTR 9/9C, details below:

(A)   Relating to Annual Return Form GSTR 9:

  1. Auto-population of ITC figures in Table 8A of Form GSTR-9 based on Form GSTR-2A: Some taxpayers have mentioned that figures of Input Tax Credit (ITC), as pre-populated in table 8A of Form GSTR-9, do not match with the numbers as appearing in their Form GSTR-2A. Following reasons may possible:
  1. Data in GSTR-2A are auto populated based on filed/ saved / submitted Form GSTR-1 of the supplier taxpayer. But data in table 8A of Form GSTR-9 are auto-populated only on the basis of filed Form GSTR-1 by the supplier taxpayer. In case, Form GSTR -1 is not submitted by your supplier, then credit related to those invoices will not show in table 8A of your Form GSTR-9.

 

  1. Data in table 8A of Form GSTR 9 are auto populated only for those Form GSTR-1, which are submitted by the supplier taxpayer by due date of its filing i.e. 30th April, 2019. Hence, ITC on supplies of the financial year 2017-18, if reported beyond 30th April, 2019, will not get auto-populated in table 8A of Form GSTR-9 but it will be available in Form GSTR-2A.
  1. In table 8A of Form GSTR-9, only recent values have been auto-populated based on filed Form GSTR-1, taking into account all the amendments made, if any. Suppose an invoice with taxable value of Rs 100/- with tax of Rs. 18/- was filed in Form GSTR-1 in the month of January, 2018 and same was amended to Rs 90 as taxable value in the month of March, 2018, then
  2. the Form GSTR-2A of January, 2018 will show ITC of Rs. 18
  3. the Form GSTR-2A of March, 2018 will show ITC of Rs 16.20 &

iii.          the table 8A of Form GSTR-9 will contain ITC of Rs 16.20.

  1. In table 8A of Form GSTR-9, ITC related to all such invoices have been removed in which place of supply lies in supplier’s taxpayers State, instead of State of the receiver taxpayer. These numbers will be shown in Form GSTR-2A of the recipient. For example if a taxpayer of State A visits State B and stays in a hotel in State B, the tax paid by the person to the hotel in State B will appear in his Form GSTR-2A, but the same will not be shown in table 8A of Form GSTR-9.
  1. The data in table 8A of Form GSTR-9 do not contain ITC for the period during which the recipient taxpayer was under composition scheme.
  1. Proceed to File button not enabled: While filing Form GSTR 9 ‘Proceed to File’ button will be enabled only if ‘Compute Liability’ is clicked. This button is there for computation of late fees only. ‘Preview Draft GSTR 9 PDF’ button is clicked to view the submitted information. Thereafter on checking the declaration box and selecting the authorized signatory details, user has to click on ‘File’ button to file the return. Please note Form GSTR 9 once filed cannot be revised.

(B)   Relating to Form GSTR 9C, Reconciliation statement :

  1. Turnover for filing Form GSTR- 9C: Form GSTR-9C is to be filed by all those taxpayers whose aggregate turnover has exceeded Rs 2 crore in a financial year. Turnover of complete year i.e. from 1st April, 2017 to 31st March, 2018 has to be taken into account for calculating the turnover. For example, if a taxpayer has a turnover of Rs. 2.1 Cr for the period 1st April, 2017 to 31st March, 2018 and a turnover of Rs. 1.9 Cr for the period 1st July, 2017 to 31st March, 2018, then the taxpayer has to file form GSTR- 9C.
  2. User getting error message while using Excel version : You are also advised to use Microsoft excel version higher than 2007 while preparing for Form GSTR 9C.
  3. Providing Membership Number by Auditor: While filing Part B of Form GSTR-9C, Auditors are advised to give their membership number without prefixing ‘0’ in their membership number. If membership number is ‘016’, then auditor should enter ’16’ on the aforesaid part in the membership number field & not ‘016’.

All the taxpayers are requested to file their FORM GSTR-9 & 9C sooner possible to avoid last minute rush and to avoid payment of late fee.

For any concerns or further info, please contact Certicom.

Detail Information on GSTR-9 and GST Annual Return

Hi, in this post we will talk about all in regards to GSTR-9 or the GST yearly return. Which means, various sorts, due date and GSTR 9 design or the subtleties. Additionally, we have given a downloadable PDF of GSTR-9 position. Peruse the full post to know more.

We will discuss:

  • Which means of GSTR-9
  • Sorts of GSTR 9
  • GSTR 9 due date

 

What is GSTR 9

GSTR 9 is the yearly return. It is a gathering return which incorporates all business exchanges accomplished for the specific Financial Year. GSTR-9 comprises of insights regarding the provisions made and got amid the year under various assessment heads i.e., CGST, SGST, and IGST. It unites the data outfitted in the month to month/quarterly returns amid the specific year.

Various sorts of GSTR-9

Form Applicability

GSTR 9 It is an Annual return for enlisted people under the ordinary plan

GSTR 9A Annual return pertinent for enrolled people under Composition Scheme

GSTR 9B Annual Return for the web based business administrators who have recorded GSTR 8 amid the FY.

GSTR 9C Reconciliation structure to be affirmed by CA/CMA for enrolled people with a turnover of multiple crores

Every single such citizen are likewise required to get their records evaluated and document a duplicate of examined yearly records and compromise explanation of expense effectively made good on and government obligation payable according to reviewed accounts alongside GSTR 9C.

Learn GSTR-9 due dates

The due date to document the GSTR-9 is 31st Dec of the previous year. For instance, 31st December 2018 for the FY 2017-18.

Details or Format of GSTR 9

PART Details required

Part-I Details of the citizen are required. This detail will be auto-populated.

Part-II Outward and Inward supplies subtleties announced amid the FY. This detail must be gotten by combining outline from all GST returns recorded in past Financial Year.

Part-III Details of the ITC proclaimed in returns documented amid the FY. The abridged qualities will be gotten from every one of the profits of GST documented in the past FY.

Part-IV Information of expense paid as announced in the profits recorded amid the FY.

Part-V Particulars of the exchanges for the past FY proclaimed in returns of Apr to Sept of current FY or up to the date of recording of GSTR-9 of past FY whichever is prior. Along these lines, the rundown of change or oversight sections having a place with past Financial Year yet detailed in Current Financial Year would be isolated and announced in this part.

Part-VI Other Information:

Requests and discounts of GST,

HSN shrewd rundown data of the no of products provided and got with its relating Tax subtleties against each HSN code

Late charges to be paid and paid subtleties

Isolation of internal supplies got from various sorts of citizens like Composition sellers, esteemed supply and merchandise provided on endorsement.

Reach Out to us for more details.