CA SWAPNIL MUNOT - CONSULTEASE
CA SWAPNIL MUNOT 91 90212 65137GST : Good and Simple Tax
HOW TO GO AHEAD WITH GST ANNUAL RETURN AND AUDITAppoint GSTAuditorConsolidation ofGSTR 1 & GSTR 3BFinancialStatement to bedivided GSTIN wisePrepare and FillGSTR 9CPrepare Reco ofGSTR 9 andFinancialStatementPrepare and FillGSTR 9File GSTR 9Pay Tax liabilityobserved by GSTAuditorFile GSTR 9CCA Swapnil Munot 91 8888 343 343
?CA Swapnil Munot 91 8888 343 343
CHALLENGES: Reconciliation: No reconciliation done at all Mistakes in return filed: Messy status of data and return filed No clarity on GST: ITC, RCM, Valuation, Other incomes Consolidated Financial Statement: Preparing financial statement for each GSTIN. Also information is to beseparated for April 17 to June 17 and July 17 to Mar 18 Defaulter Supplier: Follow up with vendor for ITC Excel Utility of GSTR 9 / 9C: Not yet available Alignment of GSTR 3B and GSTR 1: First step required to be done No new discovery can be made in GSTR FORM 9 :CA Swapnil Munot 91 8888 343 343
?CA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS:Audit MeansAudit Required forSec 2(13)Sec 35(5)Annual ReturnAudit & AnnualRequired forReturn RegulationSec 44Rule 80CA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Audit Means [sec 2(13)] : “audit” means The Examination of records, returns and other documents maintained or furnished by the registeredperson under this Act or the rules made thereunder or under any other law for the time being in force To verify the correctness of TURNOVER DECLARED, TAXES PAID, REFUND CLAIMED and INPUT TAXCREDIT AVAILED, and To assess his compliance with the provisions of this Act or the rules made thereunder Audit Required for [Sec 35(5)] :Every registered person whose turnover during a financial year exceeds theprescribed limit shall Get his accounts audited by CA/CMA and Shall submito Copy of the audited annual accounts,o The reconciliation statement under Sec 44(2) ando Such other documents in such form and manner as may be prescribedCA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Annual Return Required - Non Audit Case [Sec 44(1)] : Every registered person, other than Input Service Distributor, a person paying tax under Section 51 or Section 52, a casual taxableperson and a non-resident taxable person, Shall furnish an annual return for every financial year electronically in such form and manner as may beprescribed on or before the 31st day of December following the end of such financial year Annual Return Required - Audit Case [Sec 44(2)] : Every registered person who is required to get his accounts audited in accordance with the provisions of Sec35(5) Shall furnish, Electronically, the annual return under sub-section (1) Along with Copy of the audited annual accounts and a reconciliation statement, reconciling the value ofsupplies declared in the return furnished for the financial year with the audited annual financial statement,and such other particulars as may be prescribed.CA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Final Return Required - Registration Cancellation Case [Sec 45] : Every registered person who is required to furnish a return under Sec 39(1) and whose registration hasbeen cancelled Shall furnish a final return within 3 months of the date of cancellation or date of order of cancellation,whichever is later, in such form and manner as may be prescribed. Final Return Required - Registration Cancellation Case [Rule 81] : Every registered person required to furnish a final return under section 45, shall furnish such return electronically in FORM GSTR-10 through the common portal either directly orthrough a Facilitation Centre notified by the Commissioner[ Form GSTR 10 is notified vide Notf no. 21/2018-CT dt 18.04.2018 ]CA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Annual Return and Audit - Regulation [Rule 80] :1) Every registered person, other thanooooInput Service Distributor,Person paying tax under section 51 or section 52,Casual taxable person andNon-resident taxable person,Shall furnish an annual return as specified under Sec 44(1) electronically in FORM GSTR-9 through thecommon portal either directly or through a Facilitation Centre notified by the Commissioner:Provided that a person paying tax under section 10 shall furnish the annual return in FORM GSTR-9A.2) Every electronic commerce operator required to collect tax at source under section 52 shall furnishannual statement referred to in sub-section (5) of the said section in FORM GSTR -9B.CA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Annual Return and Audit - Regulation [Rule 80] :3) Every registered persono whose AGGREGATE TURNOVER during a financial year EXCEEDS RS 2 CROREo shall get his accounts audited as specified under Sec 35(5) ando He shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, inFORM GSTR-9C, electronically through the common portal either directly or through a FacilitationCentre notified by the Commissioner.GSTR Form NoInserted by Notification NoNotification Date39/2018-CT4th Sep 2018Form GSTR 9BNot yet notifiedNot yet notifiedForm GSTR 9C49/2018-CT13th Sep 2018Form GSTR 9, Form GSTR 9ACA Swapnil Munot 91 8888 343 343
SYNOPSIS:GST AUDIT &RECONCILIATIONSTATEMENTANNUAL RETURNFORM GSTR 9FORM GSTR 9AApplicable to NormalRegistered Taxpayer,Other than ISD,TDS/TCS, CasualTaxable PersonApplicable toComposition TaxPayerForm GSTR 9BFORM GSTR 9CApplicable to GST TCSTax PayerApplicable totaxpayer whoseturnover during FY ismore than Rs 2 CroreCA Swapnil Munot 91 8888 343 343
IMPORTANT DEFINITION Meaning of AGGREGATE TURNOVER - Sec 2(6): It means the aggregate value of All taxable supplies (excluding the value of inward supplies on which tax is payable by a person onreverse charge basis), Exempt supplies, Exports of goods or services or both and Inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess; Meaning of EXEMPT SUPPLY - Sec 2(47): It means Supply of any goods/services which attracts nil rate of tax or Which may be wholly exempt from tax under section 11, or under section 6 of the Integrated Goods andServices Tax Act, and Includes non-taxable supplyCA Swapnil Munot 91 8888 343 343
IMPORTANT DEFINITIONAGGREGATE TURNOVERINCLUDES All TaxableSupplyNil RatedGoodsWholly Exempt Non TaxableGoodsSupplyExportInter StatesupplyOF PERSONS HAVING THE SAME PERMANENT ACCOUNT NUMBER, TO BE COMPUTED ON ALL INDIA BASISEXCLUDES Central tax, State tax, Union territory tax, integrated tax and cessCA Swapnil Munot 91 8888 343 343
IMPORTANT PROVISIONS: Annual Return and Audit - Levy of Late Fee [Sec 47] :GSTR Form NoLate fee under CGST SGSTMaximum amount under CGST SGSTForm GSTR 9,Rs 100 Rs 100 per day0.25% 0.25% of Turnover in State/UTForm GSTR 9ARs 100 Rs 100 per day0.25% 0.25% of Turnover in State/UTForm GSTR 9BRs 100 Rs 100 per day0.25% 0.25% of Turnover in State/UTForm GSTR 9CRs 100 Rs 100 per day0.25% 0.25% of Turnover in State/UTForm GSTR 10Rs 100 Rs 100 per dayRs 5000 Rs 5000Rs 400 per day and Max1% of TurnoverCA Swapnil Munot 91 8888 343 343
?CA Swapnil Munot 91 8888 343 343
ICAI ANNOUNCEMENTCA Swapnil Munot 91 8888 343 343
BULLET POINT TO NOTEBULLET POINTCOMMENTPeriod Covered1st July 17 to 31st Mar 18Due date31st Dec 18Late FeeRs 400 per day for Form GSTR 9 Form GSTR 9CMax 1% of Turnover for Form GSTR 9 Form GSTR 9CNotice for Non FilerAs per Sec 46 read with Rule 68, Notice in Form GSTR 3A shall be issued within 15 dayselectronically to registered person who fails to furnish return under Sec 44Thresh hold limitForm GSTR 9: Applicable irrespective of Turnover. Applicable even in case of Nil TurnoverForm GSTR 9C: Applicable, if aggregate turnover is more than 2 CrorePAN Vs GSTNReporting is GSTIN wise and not PAN WiseSource of InformationForm GSTR 3B, Form GSTR 1 and Financial StatementCA Swapnil Munot 91 8888 343 343
?CA Swapnil Munot 91 8888 343 343
TOTAL 6PARTSDetails of taxable Outward and Inward SupplyDetails of outward supply on which tax is not payableDetails of ITC availedDETAILS AS PERGSTR 1 AND GSTR3B FILEDDetails of ITC ReversedDetails of ITC as per GSTR 2ADetails of Tax PaidTOTAL 19ReportingHeadingCorrection Done in April 18 to Sep 18 ReturnOther InformationCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18Part NoHeading of the Part of Form GSTR 9IBasic Details ( Sr. No. 1 to 3B)IIDetails of Outward and inward supplies declared during the financial year ( Sr. No. 4 and 5)o 4. Details of advances, inward and outward supplies on which tax is payable as declared in returns filedduring the financial yearo 5. Details of Outward supplies on which tax is not payable as declared in returns filed during the financialyearIIIDetails of ITC as declared in returns filed during the financial year ( Sr. No. 6 to 8)o 6. Details of ITC availed as declared in returns filed during the financial yearo 7. Details of ITC Reversed and Ineligible ITC as declared in returns filed during the financial yearo 8. Other ITC related information ( Comparison with GSTR 2A)IVDetails of tax paid as declared in returns filed during the financial year ( Sr. No. 9)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18Part NoVHeading of the Part of Form GSTR 9Particulars of the transactions for the previous FY declared in returns of April to September of current FY orupto date of filing of annual return of previous FY whichever is earlier ( Sr. No. 10 to 14)VIOther Information ( Sr. No 15 to 19 )o 15. Particulars of Demands and Refundso 16. Information on supplies received from composition taxpayers, deemed supply under section 143 andgoods sent on approval basiso 17. HSN Wise Summary of outward supplieso 18. HSN Wise Summary of Inward supplieso 19. Late fee payable and paidCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18 Information Required in Annual Return forPERIODYES / NOApril 17 to June 17NOJuly 17 to Mar 18YESApril 18 to Sep 18YES ( Only in Part V of Form GSTR 9) with respect toCorrection of Current Financial YearCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part I & II This form doesn’t require certification. Additional Tax can not be paid along with this form Information of July 17 to Mar 18 to be reported in this form, except Part V. No information of April 17 toJune 17 is to be provided in this report.Pt. I1Financial Year“FORM GSTR-9(See rule 80)Annual ReturnBasic Details2GSTIN3A Legal Name3B Trade Name (if any)Pt. II4Details of Outward and inward supplies declared during the financial year(Amount in in all tables)Nature of SuppliesTaxable ValueCGSTSGSTIGSTCess123456Details of advances, inward and outward supplies on which tax is payable as declared in returns filed during thefinancial yearCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIS.NHAEADINGCOMMENT4Details of advances, inward and outwardsupplies on which tax is payable asdeclared in returns filed during thefinancial year Only Tax Payable supplies/receipts to be mentioned under this ParaASupplies made to un-registered persons(B2C) Reported from Table 5 (Large B 2 C category : POS is in different State &Value more than Rs 2.5 lakhs), Table 7 ( B 2 C Small category), Table 9 (Amendment of Table 5), Table 10 of GSTR 1 ( Amendment of Table 7 ) Net of Debit / credit note to be reportedBSupplies made to registered persons (B2B) Reported from Table 4A ( B2B) and Table 4C ( Supply through Ecommerce) of GSTR 1 Debit / credit note to be reported separately Doesn’t include supplies on which tax is payable under RCMCZero rated supply (Export) onpayment of tax (except supplies to SEZs) DSupply to SEZs on payment of tax Reported from Table 6B of GSTR 1 Supply to SEZ under LUT is not to be reported here Debit / credit note to be reported separatelyReported from Table 6A of GSTR 1Export under LUT is not to be reported here.SEZ supply is not to be reported hereDebit / credit note to be reported separatelyCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIS.NHAEADINGCOMMENTEDeemed Exports Reported from Table 6C of GSTR 1 ( Notification No 48/2017 CT Supplyagainst Adv Authorisation, EPCG etc) Debit / credit note to be reported separatelyFAdvances on which tax has been paid butinvoice has not been issued (not coveredunder (A) to (E) above) Here, case of advance received but invoice not issued during July 17 toMar 18 are to be reported. Reported from Table 11A of GSTR 1 Advance against goods was taxable upto 15.11.17 ( Notification No66/2017 CT)GInward supplies on which tax is to be paidon reverse charge basis As Recipient - Cases where Sec 9(3), 9(4) is applicable to be reported.( Itdoesn’t include Import of Goods). Reported from Table 3.1(d) of Form GSTR 3B Including Advances, Net of Debit / credit note to be reportedHSub-total (A to G above)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIS.NHAEADINGCOMMENTICredit Notes issued in respect oftransactions specified in (B) to (E) above (-)J Reported from Table 9B of GSTR 1.Debit Notes issued in respect oftransactions specified in (B) to (E) above ( ) Details of Debit note of B2C is to be mentioned in Para 4A above Reported from Table 9B of GSTR 1. Details of Credit note of B2C is to be mentioned in Para 4A aboveKSupplies / tax declared throughAmendments ( ) Details of amendment made to above Para 4B, Para 4C, Para 4D, Para 4E,Para 4I, Para 4J to be reported here. Reported from Table 9A and Table 9C of GSTR 1LSupplies / tax reduced throughAmendments (-) Details of amendment made to above Para 4B, Para 4C, Para 4D, Para 4E,Para 4I, Para 4J to be reported here. Reported from Table 9A and Table 9C of GSTR 1M Sub-total (I to L above)NSupplies and advances on which tax is to bepaid (H M) aboveReferred inAudit ReportCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIS.NHAEADINGCOMMENT5Details of Outward supplies on which taxis not payable as declared in returns filedduring the financial year supplies on which tax is not payable, are to be mentioned under this ParaAZero rated supply (Export) withoutpayment of tax Reported from Table 6A of GSTR 1 Export under LUT is to be reported here. SEZ supply is not to be reported hereBSupply to SEZs without payment of tax Reported from Table 6B of GSTR 1 Supplies under LUT is to be reported here.CSupplies on which tax is to be paidby the recipient on reverse charge basis As Supplier - Cases where Sec 9(3), 9(4) is applicable to be reported.( Itdoesn’t include Import of Goods). Reported from Table 4B of Form GSTR1 Debit / credit note to be reported separatelyDExempted Reported from Table 8 of Form GSTR 1ENil Rated Reported from Table 8 of Form GSTR 1FNon-GST supply Reported from Table 8 of Form GSTR 1. "No Supply" category is also be covered here. ( This is as per instruction toGSTR 9)GSub-total (A to F above)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIS.NHAEADINGCOMMENT Reported from Table 9B of Form GSTR 1HCredit Notes issued in respect oftransactions specifiedin A to F above (-) Reported from Table 9B of Form GSTR 1IDebit Notes issued in respect oftransactions specifiedin A to F above ( )JSupplies declared through Amendments ( ) Reported from Table 9A & Table 9C of Form GSTR 1KSupplies reduced through Amendments (-) Reported from Table 9A & Table 9C of Form GSTR 1LSub-Total (H to K above)MTurnover on which tax is not to be paid (G L above)NTotal Turnover (including advances) (4N 5M - 4G above)Referred inAudit Report This will include all taxable , Non taxable outward supplies. This will include advances on which tax is paid but invoice is not issuedduring the year. This will not include inward supplies on which tax paid under RCMCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part III In Part III, only tax amount is required to be mentioned. Value of supplies is not required to be mentioned. Information in Sr. No. A below are going to be auto populated In this part, at some para’s, bifurcation of information is required to be giveno Between Inputs, Capital Goods and Input Services at Sr. No. 6B to 6D ando Between Inputs and Capital Goods at Sr. No. 6EPt. IIIDetails of ITC as declared in returns filed during the financial yearDescriptionType126Details of ITC availed as declared in returns filed during the financial yearATotal amount of input tax credit availed through FORM GSTR-3B (sum totalof Table 4A of FORM GSTR-3B)BInward supplies (other than imports and inwardsupplies liable to reverse charge but includes servicesreceived from SEZs)CGSTSGST34 Auto Auto InputsCapital GoodsInput ServicesCA Swapnil Munot 91 8888 343 343IGSTCess56 Auto Auto
FORM GSTR 9 : FY 17-18: Part IIIS.NHAEADINGCOMMENTBInward supplies (other than imports andinward supplies liable to reverse chargebut includes services received from SEZs) Table 4(A)(5) of GSTR 3B can be used for filing up these details Credit availed, but reversed (may be due to time limit of 180 days formaking payment to supplier) and then re-claimed ( after making paymentto supplier) shall not be reported here. It is to be reported in below Para6(H)CInward supplies received fromunregistered persons liable to reversecharge (other than B above) on which taxis paid & ITC availed Table 4(A)(3) of GSTR 3B can be used for filing up these details. Credit of tax paid as per Sec 9(4) is to be considered here It doesn’t include import of serviceDInward supplies received from registeredpersons liable to reverse charge (otherthan B above) on which tax is paid and ITCavailed Table 4(A)(3) of GSTR 3B can be used for filing up these details. Credit of tax paid as per Sec 9(3) is to be considered hereEImport of goods (including supplies fromSEZs) Table 4(A)(1) of GSTR 3B can be used for filing up these details.FImport of services (excluding inwardsupplies from SEZs) Table 4(A)(2) of GSTR 3B can be used for filing up these details.GInput Tax credit received from ISD Table 4(A)(4) of GSTR 3B can be used for filing up these details.CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIIS.NHAEADINGCOMMENTHAmount of ITC reclaimed (other than Babove) under the provisions of the ActISub-total (B to H above)J Ideally, this amount should be Zero. Figures as per para 6B to 6H are justdetailed versions of amount mentioned in Para 6A aboveDifference (I - A above)KTransition Credit through TRAN-I (includingrevisions if any)LTransition Credit through TRAN-IIMAny other ITC availed but not specifiedaboveNSub-total (K to M above)OTotal ITC availed (I N above)7Details of ITC Reversed and Ineligible ITCas declared in returns filed during thefinancial yearAAs per Rule 37 Amount of ITC claimed, reversed and reclaimed is to be reported here For example : Details of ITC availed through ITC 01, ITC 02 to be reportedhere Table 4B of GSTR 3B may be used for reporting this. Case of payment not made within 180 daysCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIIS.NHAEADINGCOMMENTAs per Rule 39 Table 4B of GSTR 3B may be used for reporting this. Reversal of excess ITC distributed credit by ISD as per Rule 39(1)(j), 39(2)As per Rule 42 Table 4B of GSTR 3B may be used for reporting this. Reversal of ITC of Input/Input Services, if used for exempted supplyAs per Rule 43 Table 4B of GSTR 3B may be used for reporting this. Reversal of ITC of CG, if used for exempted supplyEAs per section 17(5) Table 4B of GSTR 3B may be used for reporting this. Reversal of block ITCFReversal of TRAN-I credit Table 4B of GSTR 3B may be used for reporting thisGReversal of TRAN-II creditBCDH ITC reversed through ITC 03, Sale of CG, Reversal due to closure ofbusiness or any other reversal may be reported hereOther reversals (pl. specify)ITotal ITC Reversed (A to H above)JNet ITC Available for Utilization (6O - 7I)8ABReferred in Audit ReportOther ITC related informationITC as per GSTR-2A (Table 3 & 5 thereof)ITC as per sum total of 6(B) and 6(H) aboveThis will be auto populated by system from GSTR 2AIt will be auto populated. (In form notified by govt, auto comment ismentioned only for IGST, and not for other. It might be typing mistake.)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IIIS.NHAEADINGCOMMENTCITC on inward supplies (other than importsand inward supplies liable to reverse chargebut includes services received from SEZs)received during 2017-18 but availed duringApril to September, 2018Credit pertaining to July 17 to Mar 18, but availed in GSTR 3B of April 18 toSep 18, shall be declared here. Table 4(A)(5) of Form GSTR 3B may be usedfor filling up these detailsDDifference [A-(B C)]EITC available but not availed (out of D)FITC available but ineligible (out of D)GIGST paid on import of goods (includingsupplies from SEZ)HIGST credit availed on import of goods (asper 6(E) above)IDifference (G-H)JITC available but not availed on import ofgoods (Equal to I)This should be equal to Para 8I above. This is credit not availed andineligible credit. Unnecessary this extra row is there.KTotal ITC to be lapsed in current financialyear (E F J)This is lapsed creditAmount of Para 8E 8F 8DThis will be auto populated by system from para 6E aboveCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part IV & V IGST/CGST/SGST/Cess Tax liability Paid: Reported from Table 6.1 of GSTR 3B. Here details of actual tax paidduring current FY as per GSTR 3B is required to be given. Even if there is difference as per GSTR 3B and GSTR1, here details as per GSTR 3B are to be given. Interest: Actual Interest paid as disclosed only to be shown here.Pt. IV9IGST6Cess7Referred inAudit ReportDetails of tax paid as declared in returns filed during the financial yearDescriptionTax PayablePaid through cashPaid through ITCCGSTSGST12345Integrated TaxCentral TaxState/UT TaxCessInterestLate feePenaltyOtherPt. VParticulars of the transactions for the previous FY declared in returns of April to September of current FY or uptodate of filing of annual return of previous FY whichever is earlierDescriptionTaxable ValueCGSTSGSTIGSTCess123456CA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part VS.NHAEADINGCOMMENTReferred inAudit Report10Supplies / tax declared throughAmendments ( ) (net of debit notes)11Supplies / tax reduced throughAmendments (-) (net of credit notes)12Reversal of ITC availed during previousfinancial year13ITC availed for the previous financial year14Amendment done in April 18 to Sep 18 GSTR 1/Debit or Credit notes issuedw.r.t supplies declared in GSTR 1 of July 17 to Mar 18, should be reportedhere. Table 9A, Table 9B, Table 9C of GSTR 1 of April 18 to Sep 18 may beused for filling these detailsReversal of ITC / availment of ITC in April 18 to Sep 18 GSTR 3B, w.r.t ITCavailed in July 17 to Mar 18/Document of July 17 to Mar 18, shall bereported here. Table 4(B) of GSTR 3B of April 18 to Sep 18 may be used forfilling these detailsDifferential tax paid on account of declaration in 10 & 11 aboveDescription1PayableIntegrated TaxCentral TaxState/UT TaxCessInterestCA Swapnil Munot 91 8888 343 3432Paid3
FORM GSTR 9 : FY 17-18: Part VIPt. VI15Other InformationParticulars of Demands and RefundsDetailsCGST1ATotal Refund claimedBTotal Refund sanctionedCTotal Refund RejectedDTotal Refund PendingETotal demand of taxesFG2SGST3Total taxes paid in respect of E aboveTotal demands pending out of E aboveCA Swapnil Munot 91 8888 343 343IGSTCess45Interes Penalt Latety Fee
FORM GSTR 9 : FY 17-18: Part VI16ABCInformation on supplies received from composition taxpayers, deemed supply under section 143 and goods sent onapproval basisDetailsTaxable ValueCGSTSGSTIGSTCess1Supplies received from Composition taxpayers COMMENTTable 5 of Form GSTR 3B may be used for filling up these details.Only Taxable value is to be reportedDeemed supply under Section 143 Deemed supplies from principal to job worker shall be declaredhereGoods sent on approval basis but not returned Goods sent on approval but not returned within 180 days shall bedeclared hereCA Swapnil Munot 91 8888 343 343
FORM GSTR 9 : FY 17-18: Part VI Sr. No 17 and 18: It is optional for tax payer having turnover upto 1.5 crore. It is mandatory to report 2 digitlevel HSN Code for taxpayer having turnover in between 1.5 to 5 crore. It is mandatory to report 4 digit levelHSN Code for taxpayer having turnover in more than 5 crore. UQC is to be reported only in case of goods17HSNCodeUQC18HSNCodeHSN Wise Summary of outward suppliesTotalTaxable ValueQuantityRate of TaxCentral SGSTTaxIGSTHSN Wise Summary of Inward suppliesUQCTotalTaxable ValueQuantityRate of TaxCGSTIGST19Late fee payable and paidDescription1ABSGSTPayableCentral TaxState TaxCA Swapnil Munot 91 8888 343 3432Paid3CessCess
FORM GSTR 9 : FY 17-18: Verification No place to mention remark/reservation in Form GSTR 9CA Swapnil Munot 91 8888 343 343
?CA Swapnil Munot 91 8888 343 343
TOTAL VPARTSReconciliation of Gross TurnoverReconciliation of Taxable TurnoverReconciliation of Rate Wise Liability and AmountPayable thereonReconciliation ofAudited FinancialStatement with GSTR 9Additional Amount Payable due to abovereconciliation but not paidReconciliation of Net ITCAuditors Recommendation on additional Tax LiabilityTOTAL 16ReportingHeadingVerificationAudit Certification ReportCA Swapnil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18Part NoHeading of the Part of Form GSTR 9CPART – A - Reconciliation StatementIBasic Details ( Sr. No. 1 to 4)IIReconciliation of turnover declared in audited Annual Financial Statement with turnover declared in AnnualReturn GSTR9 (Sr. No 5 to 8)o 5. Reconciliation of Gross Turnovero 6. Reasons for Un - Reconciled difference in Annual Gross Turnovero 7. Reconciliation of Taxable Turnovero 8. Reasons for Un - Reconciled difference in taxable turnoverIIIReconciliation of tax paid ( Sr. No. 9 to 11)o 9. Reconciliation of rate wise liability and amount payable thereono 10. Reasons for un-reconciled payment of amounto 11. Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18Part NoIVHeading of the Part of Form GSTR 9CReconciliation of Input Tax Credit (ITC) (Sr. No. 12 to 16)o 12. Reconciliation of Net Input Tax Credit (ITC)o 13. Reasons for un-reconciled difference in ITCo 14. Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per auditedAnnual Financial Statement or books of accounto 15. Reasons for un - reconciled difference in ITCo 16. Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above)VAuditor's recommendation on additional Liability due to non-reconciliationPART – B- CERTIFICATIONCA Swapnil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18 Information Required in Annual Return forPERIODYES / NOApril 17 to June 17YESJuly 17 to Mar 18YESApril 18 to Sep 18NO In Form GSTR 9C, information of turnover of April 17 to June 17 is required to be given. Said details are alsorequired to furnish in first GSTR 1 of F.Y. 17-18. Cross checking of said information with GSTR 1 is to be done.CA Swapnil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18: PART I This fCOMMENT: Information of whole F.Y. 17-18 is required to begiven in this form Financial Statements are to be dividedo Into GSTIN wise, ando April 17 to June 17 and July 17 to Mar 18 Particulars of audit under other Acts ( CompaniesAct 2013, Income Tax Act 1961, MVAT Act 2002 etc)CA Swapnil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18: PART IICOMMENT: PARA 5A:o There may be cases where multiple GSTINs (State-wise)registrations exist on the same PAN. This is common forpersons / entities with presence over multiple States. Suchpersons / entities, will have to internally derive their GSTINwise turnover and declare the same here.o It may be noted that reference to audited Annual FinancialStatement includes reference to books of accounts in caseof persons / entities having presence over multiple Stateso It include supply of goods and services , other incomewhich is supply under GST. PARA 5B: It means, revenue booked in last F.Y. on accrual basis ( WIP etc), However invoice for the same is raised in F.Y. 17-18and GST is charged on the same. PARA 5C: It means, advance on which GST is paid in FY 17-18 but invoice for the same is not raised in FY 17-18 PARA 5D: It include adjustment on account of Schedule I Supply reported in GSTR 1, mainly: - Branch Transfer, Capital Goodstransferred to under GSTIN unit etc PARA 5E: As per me, this para is not relevant and incorrect. PARA 5F: Trade discounts which are accounted for in the audited Annual Financial Statement but on which GST wasleviable(being not permissible) shall beC AdeclaredS w a p nhereil Munot 91 8888 343 343
FORM GSTR 9C : FY 17-18: PART IICOMMENT: PARA 5G: Turnover of F.Y. 17-18 are to be reported here. PARA 5H: Unbilled revenue (WIP) recorded on accrual basisin current FY but GST is not payable not the same. ( Taxinvoice is also not raised in FY 17-18 and will be raised innext FY) PARA 5I: Value of all advances for which GST has not beenpaid but the same has been recognized as revenue in theaudited Annual Financial Statement shall be declared here PARA 5J: Value of credit notes which have been accountedfor in Financial Statement but were not admissible underSection 34 of the CGST Act shall be declared here PARA 5K: Value of goods supplied by SEZs to DTA for whichthe DTA units have filed bill of entry shall be declared here. PARA 5L: There
CA Swapnil Munot 91 8888 343 343 Reconciliation: No reconciliation done at all Mistakes in return filed: Messy status of data and return filed No clarity on GST: ITC, RCM, Valuation, Other incomes Consolidated Financial Statement: Preparing financial statement for each GSTIN.Also information is to b
Irene Li1, Alexander Fabbri1, Swapnil Hingmire2 and Dragomir Radev1 1LILY Lab, Yale University, USA 2Tata Consultancy Services Limited (TCS), India COLING'2020. Motivation With the increasing amount of information available online, there is
CA Swapnil Pa 5 tni Buy Books & PD From www.swapnilpatni.com d) Corrective 28. In an expert system, the process of matching a question to the information in the knowledge base is called: a) Deduction. b) inferencing. c) inclusion. d) None of the above. 29. Decision makers who are co
Swapnil Patni’s Classes 020 - 24466 748 90118 51796 94216 68233 Swapnil Patni’s Classes 90118 54340 90118 51233 020 - 24466 748 90118 51796 94216 68233 www.swapnilpatni.com26.1 90118 54340 90118 51233 26.1 INTRODUCTION 1. The Insolvency and Bankruptcy Code, 2016
Swapnil Nimse Project – 1 Challenge #2 Project Overview: Using Ansys-Fluent, analyze dependency of the steady-state temperature at different parts of the system on the flow velocity at the inlet and buoyancy-driven ther
By Swapnil. Cat cat - concatenate files and print on the standard output. Cat Usage Display Contents of a File cat test1.txt Redirect Contents of a File cat test1.txt test3.txt To display content of all txt files ca
Swapnil Waghmare School of Pharmacy Swami Ramanand Teerth Marathwada University Nanded Nanded, Maharashtra, 431606, India Aarti Patil Anuradha College of Pharmacy Chikhli Buldhana Maharashtra, 443201, India Prachi Patil R. C. Patel Institute of Pharmaceutical Education And Research, Shirp
Swapnil Mishra RSISE, The Australian National University Canberra, ACT, Australia swapnil.mishra@anu.edu.au ABSTRACT In topic modelling, various alternative priors have been de-veloped, for instance asymmetric and symmetric priors for the document-topic and topic-word matrices respectively, t
automotive propulsion since the 1900s, a focussed effort on improved thermal efficiency, systems optimisation, hybridisation and new net-zero carbon fuels is required to meet stricter emissions regulations. Engine efficiency, commonly measured as Brake Thermal Efficiency, has continued to increase since the last TPS roadmap was published in 2017. For light duty vehicles, this is expected .
