Hsnwise purchase in Annual return..
Surjeet Kumar (67 Points)
23 June 2019
Is. the 100% purchases are needed to show in hsnwise summary in Annual return?
8 Replies
Surjeet Kumar
(67 Points)
Replied 23 June 2019
but i think only those hsn purchases which contribute more than 10% in total purchases..
Dipesh Jha
(PRACTICE )
(673 Points)
Replied 23 June 2019
No 100% Inward Supplies are to be shown in Annual Return
Dipesh Jha
(PRACTICE )
(673 Points)
Replied 23 June 2019
The amended GSTR-9 was notified vide notification 74/2018-Central Tax dated 31 December 2018. Instructions for filling up Tables 17 and 18 of the amended form read as below:
Summary of supplies effected and received against a particular HSN code to be reported only in this table. It will be optional for taxpayers having annual turnover upto Rs. 1.50 Cr. It will be mandatory to report HSN code at two digits level for taxpayers having annual turnover in the preceding year above Rs. 1.50 Cr but upto Rs.5.00 Cr and at four digits‘ level for taxpayers having annual turnover above Rs. 5.00 Cr. UQC details to be furnished only for supply of goods. Quantity is to be reported net of returns. Table 12 of FORM GSTR1 may be used for filling up details in Table 17.
It may be noted that this summary details are required to be declared only for those inward supplies which in value independently account for 10 % or more of the total value of inward supplies.
Summary of supplies effected and received against a particular HSN code to be reported only in this table. It will be optional for taxpayers having annual turnover upto Rs. 1.50 Cr. It will be mandatory to report HSN code at two digits level for taxpayers having annual turnover in the preceding year above Rs. 1.50 Cr but upto Rs.5.00 Cr and at four digits‘ level for taxpayers having annual turnover above Rs. 5.00 Cr. UQC details to be furnished only for supply of goods. Quantity is to be reported net of returns. Table 12 of FORM GSTR1 may be used for filling up details in Table 17.
It may be noted that this summary details are required to be declared only for those inward supplies which in value independently account for 10 % or more of the total value of inward supplies.
Surjeet Kumar
(67 Points)
Replied 23 June 2019
now its clear, only those inwards supply required to show those are contribute more than 10% not 100%..
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