Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19. Effect of both years are not shown in Form GSTR-3B of F.Y.2018-19
Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19. Effect of both years are not shown in Form GSTR-3B of F.Y.2018-19
Herewith I giving with an example for your better understanding.
Illustration-5.
“ M/s. Sri Srinivasa Industrial Corporation, Mumbai ” doing business in Machinery and machinery spare, etc., They had an outward supply of goods worth of Rs. 80,000/- as per books for the F.Y.2017-18. The rate of tax is 18 @ % and Tax due to Rs 14,400/-. They have filed GSTR-3B and mentioned his outward supply of goods by mistake worth of Rs.1,20,000/- and paid tax @18% of Rs.21,600/- for the F.Y. 2017-18.
Related Topic:
Wrongly paid GST can be shifted to correct head
In the year of 2018-19, he had an outward supply of goods worth of Rs.1,30,000/- as per books and the GST rate is @18%, and liable to pay the GST Tax of Rs.23,400/- He was filed GSTR-3 B and mentioned in GSTR-3B Outward supply of goods worth of Rs.1,40,000/- and paid GST Tax @18% of Rs.25,200/- 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.
Ans: 2017-18
| Year | Table | Description | Amount in Rs. |
| 2017-18 | As per books of accounts Outward Supply of Goods | 14,400 | |
| As per GSTR-3B Outward supply of Goods | 21,600 |
GSTR-9 17-18 presentation:
| Table-4 | Detailed of advances, inward and outward supplies made during the financial year on which tax is payable. | 21,600 |
| Table -9 | Tax payable for the F.Y. | 21,600 |
| Table-9 | Tax paid as per Form GSTR-3B | 21,600 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | – |
| Table-11 | Supplies/tax declared in next financial year through Amendments(+) (net of credit notes) | 7,200 |
| Table-14 | Differential tax paid on account declaration in table-10 & 11 | –
|
| Imp. Note | Refund of 17-18 to be claimed after filing Form GSTR-9of 18-19 | 7,200 |
2018-19: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2018-19 | As per books of accounts Outward Supply of Goods | 23,400 | |
| As per GSTR-3B Outward supply of Goods | 25,200 |
GSTR-9 of 2018-19.
| Table-4 | Detailed of advances, inward and outward supplies made during the financial year on which tax is payable. | 23,400 |
| Table-9 | Tax payable | 23,400 |
| Table-9 | Tax paid as per Form GSTR-3B | 25,200 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | – |
| 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 | – |
| Imp. Note. | Refund of 2017-18 to be claimed after filling GSTR-9 of 2018-19 | 1,800 |
Total 2017-18 plus 2018-19 years :
- Outward supplies as per books: Rs.37,800/-
- Outward supplies as per 3B plus DRC-03-Refund: Rs.37,800/-
- GSTR-9-(Table-4/Table-9 plus Table 10 minus Table11): Rs.37,800/-
How to show the above short payment of output tax of F.Y 2017-18 in GSTR-9C for the F.Y 2018-19 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) | 23,400 |
| 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 | 23,400 |
| Table-5 Q | Turnover as declared in Annual Return i.e. Form GSTR-9 | 23,400 |
| 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 | 23,400 |
| Table-9 Q | The total amount paid as declared in Annual Return i.e. Form GSTR-9 | 23,400 |
| Table-10 | The difference of Un-reconciled (if any) | NIL |
| Imp.Note: | Refund of 2017-18 to be claimed after filling GSTR-9 of 2018-19 | 7,200 |
| Imp.Note: | Refund of 2018-19 to be claimed after filling GSTR-9 of 2018-19 | 1,800 |
Dear Colleagues, I have provided Illustration-5, “Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19. Effect of both years are not shown in Form GSTR-3B of F.Y.2018-19”. 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 clients’ records and prepare GSTR-9/9C for the year 2018-19.
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