Goods and Service Tax is among the greatest tax reform in India. Intro of Goods and also service tax has subsumed numerous tax obligations like VAT, entry tax, octroi, excise duty, solution tax, acquisition tax and so on. Introduction of Goods and service tax has brought together with it need of filing returns in various forms depending upon the course of taxpayer. In addition to monthly, the signed up taxpayer is additionally needed to submit an annual return. However, the format of annual return was still not introduced by the Government until recently. Vide notification no. 39/2018-- Central Tax dated 4th September 2018, the Government has actually supplied the format of FORM GSTR-- 9 and FORM GSTR-- 9A. It needs to be kept in mind right here that FORM GSTR-- 9 is applicable to the normal taxpayer, whereas, FORM GSTR-- 9A is relevant to a person who has actually chosen structure plan.

Details To Be Furnished In Form GSTR 9 of GST annual return

FORM GSTR-- 9 is divided right into 6 components and also information which the regular taxable person needs to provide in FORM GSTR-- 9 are summarized hereunder:

PART-- I-- Basic Details;

PART-- II-- Details of outside as well as inward supplies declared throughout the financial year;

COMPONENT-- III-- Details of Input Tax Credit as declared in returns submitted during the fiscal year;

PART-- IV-- Details of tax paid as declared in returns submitted during the fiscal year;

COMPONENT-- V-- Particulars of the purchases for the previous FY proclaimed in returns of April to September of existing FY or approximately the date of filing of annual return of previous FY whichever is previously;

COMPONENT-- VI-- Other info--.

Particulars of Demand and Refunds;.

Information on products obtained from structure taxpayers, deemed supply under area 143 as well as items sent out on approval basis;.

HSN smart summary of outward supplies;.

HSN sensible recap of inward products;.

Late charge payable and also paid.

Information To Be Furnished In Form GSTR-- 9A of GST annual return.

FORM GSTR-- 9A is divided right into 5 parts and also information which the make-up plan taxable person needs to furnish in FORM GSTR-- 9A are summed up hereunder:.

COMPONENT-- I-- Basic Details;.

COMPONENT-- II-- Details of outside and inward materials stated during the financial year;.

PART-- III-- Details of tax paid as stated in returns submitted throughout the financial year;.

PART-- IV-- Particulars of the transactions for the previous FY declared in returns of April to September of existing FY or approximately the date of filing of annual return of previous FY whichever is previously;.

PART-- V-- Other details--.

Particulars of Demand and Refunds;.

Details of credit turned around or availed;.

Late fee payable and also paid.