10 Important Points to be ensured by Every CFO/Head Finance for GST Annual Return GSTR-9
- Almost all business entity registered under GST is required to file GST Annual Return in GSTR-9 for every FY by 31st December following that FY.
- For the FY 2017-18, this return needs to be filed by 30th June, 2019 ( An extended date).
- GST Annual Return is the Consolidation of all GST returns filed by RP for that FY whether filed through regular return for that FY or updation of date for this FY through amendments made by the return filed for next FY upto September following that FY (up to 31st March 2019 an extended date).
- We shall definitely get show cause notice if we try to get any leftout benifit I.e. benifit not taken in the returns filed for that FY.
- In GSTR – 9 data for FY captured in 2 parts i.e. Table 4 to 7 (data filed during the year and Table 10 -13 (data for that FY filed through amendments in future period till March 2019 ITR.
- Data in GSRT-9 will auto populated from GSTR – 1 and GSTR-3B filed for that FY, However we can amend it with proper justification to be recorded and ready for show cause Notice.
- Any mismatch of ITC between GSTR 2A and GSTR-3B to be finally calculated and follow with the vendors till 20th April, 2019 or else ready for pay it as unmatched ITC.
- Ensure not to claim ant ITC in GSTR-9 if not claimed till 20th April hence, please expedite the final reconciliation with vendors to include this in March 2019 GSTR.
- There is no provision to revise the GSTR -9 hence wait till GSTN finally compile all GSTR
Filed for March, 2019 which is expected to be done by mid May, 2019.
- Last but not least, take final call to reconcile your data for FY 2017-18 to incorporate required amendments in March 2019 GSTR for any change for FY 2017-18.