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CBIC has issued Notification No. 56/2019–Central Tax dated 14th November, 2019 and has simplified Annual Return GSTR-9 & GST Audit GSTR-9C vide Central Goods and Services Tax (Seventh Amendment) Rules, 2019.
It notifies various changes in Form GSTR-9C to give effect to its applicability for F.Y 2017-18 and 2018-19. This notification provides substantial relief by making various mandatory fields ‘optional’ for the F.Y 2017-18 and F.Y. 2018-19.
Some significant fields which are made optional in GSTR 9C are listed below:
| Reference | Particulars before change | Particulars after change |
| FORM GSTR-9C, in Paragraph 4-Table 5B | Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting in the previous financial year and was carried forward to the current financial year shall be declared here i.e., when GST is payable during the financial year on such revenue (which was recognized previously), the value of such revenue needs to be declared here. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in Table 5O. |
| FORM GST GSTR-9C, in Paragraph 4-Table 5C | Value of all advances for which GST has been paid but the same is not recognized as revenue in the audited Financial Statement needs to be declared here. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in Table 5O. |
| FORM GST GSTR-9C, in Paragraph 4-Table 5D | Aggregate value of deemed supplies under Schedule I of the CGST Act, 2017 needs to be declared here. Any deemed supply which is already part of the turnover in the audited Financial Statement is not required to be included. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in the Table 5O |
| FORM GST GSTR-9C, in Paragraph 4-Table 5E | Aggregate value of the credit notes which were issued after March 31st in relation to supply booked in current year but such credit notes were reflected in the annual return i.e. GSTR-9 needs to be declared. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in the Table 5O |
| FORM GST GSTR-9C, in Paragraph 4-Table 5F | Trade discounts which are accounted in the audited Financial Statement but on which GST was leviable (being not permissible) needs to be declared here. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in the Table 5O. |
|
FORM GST GSTR-9C, in Paragraph 4 Table 5G |
Turnover included in the audited Financial Statement for April 2017 to June 2017 shall be declared here. | For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in the Table 5O. |
| FORM GST GSTR-9C, in Paragraph 4 – Table 5H, 5I ,5J, 5K, 5L, 5M, 5N | 5H-Unbilled revenue,
5I-Value of all advances 5J-Aggregate value of credit notes 5K-Aggregate value of all goods supplied by SEZs to 5L-DTA, composition taxpayer 5M-Valuation principles under section 15 of the CGST Act, 2017 5N-Difference due to foreign exchange fluctuation. All the aforementioned things shall be declared here. |
For the FY 2017-18 and 2018-19, registered person shall have an option to not fill this table. If there are any adjustments required to be reported, then the same may be reported in the Table 5O. |
| FORM GST GSTR-9C, in Paragraph 6 – Table 12B | Any ITC which was booked in the audited Financial Statement of earlier financial year but availed in the ITC ledger in the financial year for which the reconciliation statement is being filed for shall be declared here. This shall include transitional credit which was accounted in earlier years but availed during Financial Year 2017-18. | For FY 2017-18 and 2018-19, the registered person shall have an option to not fill this Table |
| FORM GST GSTR-9C, in Paragraph 6 -Table 12C | Any ITC which has been booked in the audited Financial Statement of the current financial year but the same has not been credited to the ITC ledger for the said financial year needs to be declared here | For FY 2017-18 and 2018-19, the registered person shall have an option to not fill this Table |
| 3(iv) (C) FORM GST GSTR-9C, in Paragraph 6-Table 14 | This table requires reconciliation of ITC declared in the Annual Return i.e. GSTR 9 against the expenses booked in the audited Financial Statement or books of account. The various heads specified under this table are general expenses in the audited Financial Statements on which ITC may or may not be available. Taxpayers may change any of these heads but all heads of expenses on which GST has been paid/was payable needs to be declared here. | For FY 2017-18 and 2018-19, the registered person shall have an option to not fill this Table |
| Part-B of Form 9C | Cash flow statement was mandatory earlier. | Cash flow statement need to be attached, only if available |
| Para 5 of Section-I of Part B and Para 4 of Section-II of Part B | Currently in GSTR-9C, it is required for the auditor to certify that particulars given in GSTR-9C are ‘True and correct’. | ‘True and correct’ has been replaced with ‘true and fair’. It is great relief to auditors. |
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