The government has come up with Annual Return Formats for FY 2017-18 wide Notification No. 39/2018-Central Tax ,dt. 04-09-2018.
Section 44(1) of CGST Act, 2017 deals with Annual return under GST and states that, every registered person under GST, other than
- an Input service distributor (ISD),
- a person paying tax under section 51,
- a person paying tax under section 52,
- a casual taxable person and
- a non-resident taxable person
shall furnish Annual Return for every financial year electronically on or before the Thirty-First day of December following the end of such financial year.
The Annual Return is to be filed in FORM GSTR 9 by regular dealers and in FORM GSTR 9A by composition dealers through the common portal.
GSTR 9– The Annual Return form for normal taxpayers has been divided into 6 parts with 19 tables which includes detailed information related to outward supplies, inward supplies, ITC availed, ITC reversed, ineligible ITC, tax paid, particulars of demand and refund, HSN summary of outward supplies, HSN summary of inward supplies etc. of the transactions declared in returns filed during the financial year ending March 2018.
GSTR 9A– The Annual Return form for composition dealer taxpayers has been divided into 5 parts with 17 tables which includes detailed information related to outward supplies, inward supplies, tax paid, particulars of demand and refund etc. of the transactions declared in returns filed during the financial year ending March 2018.
The details for the period of July 2017 to March 2018 are to be provided in the Annual Return. Also information with regard to transactions related to financial year ending March 31, 2018 declared in returns of April,2018 to September, 2018 are to be disclosed in the Annual Return.
This will help businesses to reconcile the data already filed in returns- GSTR 1 and GSR 3B pertaining to July’17 to March’18 with actual available data of FY 2017-18, which would further help them to claim entitlements left out, if any and also to close the irregularities, if any, to avoid future interest and penalties.