Conceptual Framework GSTR 9 and 9C Financial Year 18-19

Conceptual Framework GSTR 9 and 9C Financial Year 18-19

Basic Questions

• Will I see the new GSTR 9 & 9C or do I need to use old forms only?

No new form & we have to use old forms only

• Will I see the amended new GSTR 9 & 9C?

No amended form is anticipated

• Do we complete filing for FY 18-19?

Yes, asap

• Do I opt for Notification 56/2019?

IMO, No but if not possible yes

• Can I file my GSTR 9 & GSTR 9C without filing my GSTR 3B & GSTR 1?

No, GSTR 9 & GSTR 9C can’t be filed without filing 3B & R1.

• Can I amend GSTR 9 & 9C after it is filed?

No amendment is possible after filing.

• Is it possible to file GSTR 9C before GSTR 9?

No, GSTR 9 needs be filed first and thereafter GSTR 9C can be filed.

• Can I claim additional ITC through GSTR 9?

No additional ITC can be claimed through GSTR 9 as well as GSTR 9C. If not claimed it is lost forever.

• How do I reflect on the transactions of Outward Supply pertaining to FY 1718 into FY 18-19?

Covered in the subsequent slides as per my understanding

• How do I reflect on the transactions of ITC pertaining to FY 1718 into FY 18-19?

Covered in the subsequent slides as per my understanding

• Can I report my OTL figures of FY 17-18 into FY 18-19?

No, covered in my subsequent slides

• Can GSTR 9 & 9C be filed manually?

No, it has to be filed electronically only

Related Topic:
GSTR 9 & 9C with FEW SAMPLE DISCLOSURES

Basic Fundamentals

• Industry
• Laws Applicable
• Books of Accounts
• Financial Statements
• Statutory Compliances
• Scope

Schedule I

• Activities to be treated as supply even if made without consideration
• Examples- Permanent transfer or disposal of business, supplies between related persons or taxable persons having the same PAN, supply of goods by a principal to his agent and vice versa, import of services for business purpose, by a taxable person from a related person

Schedule II

• Activities to be treated as a supply of goods or supply of services
• Examples- Goods -Transfer of title in goods under an agreement where the property in goods passes upon payment of full consideration, the supply of goods by any unincorporated association or body of persons to a member for cash, deferred payment or other valuable consideration, etc.
• Examples – Services: Transfer of right or undivided share in goods without the transfer of title, treatment/ process applied to another person’s goods, renting of immovable property, temporary transfer/ permitting the use or enjoyment of IPRs, development, design, programming, customization, adaptation, up-gradation, enhancement, implementation of information technology software, works contract, etc.

Schedule III

• The activities covered under Schedule III which are neither a supply of goods nor a supply of services would not be included in the exempt supply
• Examples- Services by an employee to the employer in the course/ relation to employment, Services of funeral, burial, crematorium or mortuary, sale of land, sale of completed buildings, actionable claims (other than lottery, betting and gambling), services by any court or Tribunal, the functions performed by the Members of Parliament, etc.

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