As businesses gear up for the fiscal year 2023-24, understanding the GSTR-9 Annual Return tables is crucial for compliance under the Goods and Services Tax (GST) regime.
Read More: GSTN releases Offline Utility for GST Annual Return and Reconciliation Statements for FY 2023-24
The GSTR-9C return, which is an audit report, includes mandatory tables such as Table 5A (Turnover as per audited books) and Table 9A to 9Q (reconciliation of various figures).
However, some tables related to adjustments can be clubbed, making it easier for businesses to present their data clearly. It is required to be certified by a CA or cost accountant.
No documents/annexures are required to be submitted along with GSTR-9. However, audited financial statements are required to be submitted along with GSTR-9C.
Read Also: GST Annual Return Form GSTR-9: All You Need to Know
Below is a detailed breakdown of the tables in GSTR-9, highlighting which are mandatory and which are optional.
Complete Draft Replies of GST ITC Related Notices, Click Here
Mandatory Tables:
1. Tables 4A to 4G: These tables cover the taxable outward supply, tax on advances, and reverse charge mechanism (RCM). Reporting these details is mandatory to ensure accurate taxation.
2. Tables 5A to 5C: They encompass supplies without tax payment and exempted, nil-rated, and non-GST supplies. This information must be accurately reported to maintain compliance.
3. Table 6E: Import of goods is a mandatory report. This ensures that the government has a clear picture of all imported goods and the associated taxes.
4. Tables 7F to 7G: Reporting related to ITC reversal and details of tax payable is also mandatory.
5. Table 9: This table provides an overview of the total tax payable and must be accurately filled out.
6. Tables 17 and 18: Reporting on HSN codes for outward and inward supplies is mandatory, enabling proper classification of goods.
1. Table 5H to 5K: These tables, covering credit notes and debit notes related to exempted and nil-rated supplies, are optional but can be included for thoroughness.
2. Table 6A: Auto-populated ITC based on GSTR-3B is included here, though this table is optional.
3. Tables 12 and 13: These focus on ITC pertaining to the previous fiscal year and are highly advisable to fill out, though technically optional.
Complete Draft Replies of GST ITC Related Notices, Click Here
Read Also: GSTN releases Important Advisory on GST Annual Returns GSTR-9 and GSTR-9C
For businesses and professionals, understanding the mandatory and optional tables in the GSTR-9 and GSTR-9C returns is essential to ensure compliance and avoid penalties. By filling out the necessary tables diligently, businesses can not only adhere to regulatory requirements but also streamline their accounting processes for the fiscal year 2023-24.
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