Short tax paid in F.Y.2017-18 and F.Y.2018-19 both years, Effect of the same given in F.Y. 2019-20 (Assuming).
Short tax paid in F.Y.2017-18 and F.Y.2018-19 both years, Effect of the same given in F.Y. 2019-20 (Assuming).
Herewith I giving with an example for your better understanding.
Illustration-8.
“ M/s. Surjeet Enterprises, Ludhiana ” doing business in the wholesale and retail business. They had an outward supply of goods worth Rs. 1,00,000/- as per books for the F.Y.2017-18. The rate of tax is 18 @ % and Tax due Rs.18,000/-.They have filed GSTR-3B and mentioned his outward supply of goods by mistake worth of Rs.90,000/- and paid tax @18% of Rs.16,200/- for the F.Y. 2017-18.
In the year of 2018-19, they had an outward supply of goods worth of Rs.1,20,000/- as per books and the GST rate is @18%, and liable to pay GST Tax of Rs.21,600/-. They have filed GSTR-3 B and mentioned in GSTR-3B Outward supply of goods worth of Rs.95,000/- and paid GST Tax @18% of Rs.17,100/- as per GSTR-3B. Now we have to prepare a statement for how much he has to show in GSTR-9 and the impact of GSTR-9C for the year 2018-19.
In the year 2019-20, they had outward supplies 80,000/- as per books and the GST rate @18% and liable to pay a tax of Rs.14,400/- as per Form GSTR-3B they have mentioned outward supplies as Rs. 1,10,000/-and paid GST tax @18% of Rs. 19.800/-
Ans: 2017-18
| Year | Table | Description | Amount in Rs. |
| 2017-18 | As per books of accounts Outward Supply of Goods | 18,000 | |
| As per GSTR-3B Outward supply of Goods | 16,200 |
GSTR-9 17-18 presentation:
| Table-4 | Detailed of advances, inward and outward supplies made during the financial year on which tax is payable. | 16,200 |
| Table -9 | Tax payable for the F.Y. | 16,200 |
| Table-9 | Tax paid as per Form GSTR-3B | 16,200 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | 1,800 |
| Table-11 | Supplies/tax declared in next financial year through Amendments(+) (net of credit notes) | – |
| Table-14 | Differential tax paid on account declaration in table-10 & 11 | 1,800
|
2018-19: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2018-19 | As per books of accounts Outward Supply of Goods | 21,600 | |
| As per GSTR-3B Outward supply of Goods | 17,100 |
GSTR-9 of 2018-19.
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 15,300 |
| Table-9 | Tax payable | 15,300 |
| Table-9 | Tax paid as per Form GSTR-3B | 17,100 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | 6,300 |
| Table-11 | Supplies/tax declared in next financial year through Amendments(+) (net of credit notes) | – |
| Table -14 | Differential tax paid on account declaration in table-10 & 11 | 6,300 |
2019-20: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2019-20 | As per books of accounts Outward Supply of Goods | 14,400 | |
| As per GSTR-3B Outward supply of Goods | 19,800 |
GSTR-9.2019-20
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 14,400 |
| Table-9 | Tax payable | 14,400 |
| Table -9 | Tax paid as per Form GSTR-3B | 19.800 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | – |
| Table-11 | Supplies/tax reduced in the next financial year through Amendments(-) (net of credit notes) | – |
| Table -14 | Differential tax paid on account declaration in table-10 & 11 | – |
Total of 2017-18,2018-19 and 2019-20 years :
- Outward supplies as per books: Rs.54,000/-
- Outward supplies as per 3B plus DRC-03-Refund: Rs. 54,000/-
- GSTR-9-(Table-4/Table-9 plus Table 10 minus Table11): Rs. 54,000/-
How to show the above “Short tax paid in F.Y.2017-18 and F.Y.2018-19 both years, Effect of the same given in F.Y.2019-20 (Assuming)” and what is the impact on GSTR-9C of F.Y.2018-19.
Form GSTR-9C relevant Colum’s: 2018-19.
| Table -5A | Turnover (including exports) as per audited financial statements for the State/UT ( for multi-GSTN units under the same PAN the turnover shall be derived from the audited annual financial statement) | 21,600/- |
| Table-5O | The difference of F.Y.2017-18 (Adjustments in turnover due to reasons not listed above) | – |
| Table-5 P | Reconciliation of gross turnover | 21,600/- |
| Table-5 Q | Turnover as declared in Annual Return i.e. Form GSTR-9 | 21,600/- |
| Table-6 | The difference in Turnover( Reasons for Unreconciled difference in Annual Gross Turnover) | – |
| Table-9 P | Total amount to be paid as per the tables above | 21,600/- |
| Table-9 Q | The total amount paid as declared in Annual Return i.e. Form GSTR-9 | 21,600/- |
| Table-10 | The difference of Un-reconciled (if any) | NIL |
Dear Colleagues, I have provided Illustration-8. “ Short tax paid in F.Y.2017-18 and F.Y.2018-19 both years, Effect of the same given in F.Y.2019-20 (Assuming)”. Now How to give effect for that 2 years taken in Form GSTR-9/9C of F.Y.2018-19.
I am giving suggestion to all of you that I have mentioned figures for the procedure to be followed (Learning purpose only) You have to check your client’s records and prepare GSTR-9/9C for the year 2018-19.
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