GSTR 9

This query is : Resolved

Sonnal Khandaray (Querist)
Follow

26 March 2021 Hi All

Where to show in GSTR 9 -advances and GST payable on which tax is to be paid?
I want to show liability to be paid on advances.

Thanks in advances.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

26 March 2021 Table 4F

if the advances have been received in the period when there was liability pay tax on advances received towards the goods also and invoice has not been issued in the FY, the same has to be disclosed here.

Sonnal Khandaray

Sonnal Khandaray (Querist)
Follow

29 March 2021 Table 4F says 1. advances on which tax has been paid. but tax has not been paid. Client wish to create liability on advance recd. and file the return.

Upgrade to CAclubindia Pro. Subscribe Now!

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
Follow

27 July 2024 When filing GSTR-9, which is the annual return under GST, you need to accurately report various components including advances received and the corresponding tax liability. Here’s how you can report advances and the GST payable on them:

### **Reporting Advances in GSTR-9**

1. **Advances Received:**
- **Table 5:** This is where you report the advances received in relation to the supply of goods or services. The details of advances received should be included here.
- **5B:** Report the advances received for supply of goods or services during the financial year.
- **5C:** Report the adjustments made to advances received in the previous financial year.

2. **Advances Paid:**
- If you have made any advance payments for the procurement of goods or services, this information is generally not required to be reported in GSTR-9 as it primarily deals with advances received and adjustments.

### **Reporting GST Payable on Advances**

1. **Liability on Advances:**
- **Table 7:** This table is used to report the details of tax paid and the tax liability. You will need to include the tax payable on the advances in this section.
- **7D:** Report the GST liability on advances received. If GST was paid on these advances, this should be shown as part of the total tax liability.

2. **Adjustments:**
- If you have adjusted the GST on advances in the following financial year or made any corrections, ensure that these adjustments are reflected accurately.
- **Table 9:** If there are any adjustments to be made for the previous year's data, they should be entered in Table 9. This includes adjustments to liabilities or advances.

### **Detailed Steps for GSTR-9:**

1. **Report Advances Received:**
- In **Table 5**, enter the advances received for taxable supplies. Ensure this is in accordance with the books of accounts and is supported by the relevant invoices and records.

2. **Report GST Payable on Advances:**
- In **Table 7D**, include the tax payable on advances that were received during the financial year. This should match with the GST payments made on advances.

3. **Adjustments (if any):**
- In **Table 9**, if you need to adjust the advances or the tax liability for any errors or changes from the previous year, include these details.

### **Important Considerations:**

- **Reconciliation:** Ensure that the details reported in GSTR-9 reconcile with your monthly or quarterly GSTR-3B and GSTR-1 returns.
- **Supporting Documents:** Keep all supporting documents and records for advances and tax payments handy for reference and compliance.

### **Summary:**

- **Advances Received:** Report in **Table 5B**.
- **GST Payable on Advances:** Report in **Table 7D**.
- **Adjustments:** Report in **Table 9** if applicable.

**For accurate reporting,** always refer to the latest GST guidelines or consult with a tax professional to ensure compliance and correctness in filing your GSTR-9 return.