Fy 2020-21 I have applied Refund exports without payment of Tax ITC Refund, out of that partially sanctioned , it is credited to our account , later inadmissible credited to our credit ledger in fy 2021-22
Now my doubt GSTR9 How to fill refund plz clarify my doubts
10 July 2024
Filing GSTR-9 (Annual Return) involves reporting all your GST transactions for the financial year, including details related to refunds. Here’s how you should approach filling out GSTR-9 considering your refund situation:
### Reporting Refunds in GSTR-9:
1. **Refund Applied in FY 2020-21:** - If you applied for a refund under exports without payment of tax or ITC refund for FY 2020-21, you need to report this in GSTR-9 for FY 2020-21. - Include details of the refund application under the respective sections of GSTR-9 that pertain to refunds.
2. **Partially Sanctioned Refund:** - Report the details of the refund that was partially sanctioned in FY 2020-21. Include the amount sanctioned and the details of the refund application.
3. **Inadmissible Credit in FY 2021-22:** - If any portion of the refunded amount was deemed inadmissible and credited back to your credit ledger in FY 2021-22, you should report this under the relevant section of GSTR-9 for FY 2021-22. - Specify the nature of the inadmissible credit and the amount involved.
### Specific Sections of GSTR-9 to Focus On:
- **Table 5:** This section covers details of outward and inward supplies declared during the financial year. Include details of exports without payment of tax and any adjustments related to refunds.
- **Table 10:** This section deals with details of tax paid as declared in returns filed during the financial year. Report any adjustments or credits related to refunds received and any inadmissible credits.
- **Reconciliation:** Ensure your GSTR-9 reconciles with your annual financial statements and GST returns filed during the year, including adjustments related to refunds.
### Documentation and Verification:
- Keep all relevant documents handy, such as copies of refund applications, sanction orders, and communications related to the inadmissible credit. - Verify that the amounts reported in GSTR-9 match the corresponding entries in your GST returns and financial records.
### Professional Assistance:
- If you’re unsure about how to correctly report the refund details in GSTR-9 or if there are complexities due to partial sanction or inadmissible credits, consider consulting with a GST expert or tax consultant. - They can provide specific guidance tailored to your situation and ensure compliance with GST regulations.
By accurately reporting your refund-related transactions in GSTR-9, you ensure transparency and compliance with GST requirements for the financial year. Double-checking entries and seeking professional advice can help streamline this process effectively.
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