GTA charging GST under reverse charge mechanism. Some invoices dated 2017-18 have been entered in GSTR1 of September 2018-19. How to account for that in GSTR9, since there we are liable to file GSTR9C and turnover should tally with turnover in the books of accounts. Thank you.
4 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 13 August 2019
As per Latest Press release .on 3/7/2019 by CBIC on Annual return :
Tax to be paid on reverse
charge basis for the FY 2017-18 but was paid during FY 2018-19. It may be noted that since the payment was made
during FY 2018-19, the input tax credit on such payment of tax would have been availed in FY 2018-19 only.
Therefore, such details will not be declared in the annual return for the FY 2017-18 and will be declared in the annual
return for FY 2018-19. If there are any variations in the calculation of turnover on account of this adjustment, the
same may be reported with reasons in the reconciliation statement (FORM GSTR-9C).
Tax to be paid on reverse
charge basis for the FY 2017-18 but was paid during FY 2018-19. It may be noted that since the payment was made
during FY 2018-19, the input tax credit on such payment of tax would have been availed in FY 2018-19 only.
Therefore, such details will not be declared in the annual return for the FY 2017-18 and will be declared in the annual
return for FY 2018-19. If there are any variations in the calculation of turnover on account of this adjustment, the
same may be reported with reasons in the reconciliation statement (FORM GSTR-9C).
Tide
(Accountant)
(94 Points)
Replied 13 August 2019
Thank you. But we do not pay tax on reverse charge basis. The parties we issue invoices to pay tax on reverse charge basic. Technically, our supplies are all exempt. So, how do I account for 17-18 invoices entered in GSTR1 of 18-19 in GSTR9. Thank you.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 13 August 2019
Then account all those supplies in FY 2017-18 only in your annual return
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