Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19 both years and given effect of the same in F.Y.2019-20 (Assuming).
Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19 both years and given effect of the same in F.Y.2019-20 (Assuming).
Herewith I giving with an example for your better understanding.
Illustration-10.
“ M/s. ABC Enterprises, Andhra Pradesh ” doing business in wholesale furniture. They had an outward supply of goods worth Rs. 1,50,000/- as per books for the F.Y.2017-18. The rate of tax is 12% @ % and Tax due Rs.18,000/-.They have filed GSTR-3B and mentioned his outward supply of goods by mistake worth of Rs.2,00,000/- and paid tax @12% of Rs.24,000/- for the F.Y. 2017-18.
In the year of 2018-19, they had an outward supply of goods worth Rs.1,60,000/- as per books and the GST rate is @12% and liable to pay GST Tax of Rs.19,200/-. They have filed GSTR-3 B and mentioned in GSTR-3B Outward supply of goods worth of Rs.1,90,000/- and paid GST Tax @12% of Rs.22,800/- 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.
Related Topic:
Wrongly paid GST can be shifted to correct head
In the year 2019-20, they had outward supplies 1,70,000/- as per books and the GST rate @12% and liable to pay a tax of Rs.20,400/- as per Form GSTR-3B they have mentioned outward supplies as Rs. 1,20,000/-and paid GST tax @12% of Rs. 14,400/-.
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 | 24,000 |
GSTR-9 17-18 presentation:
| Table-4 | Detailed of advances, inward and outward supplies made during the financial year on which tax is payable. | 24,000 |
| Table -9 | Tax payable for the F.Y. | 24,000 |
| Table-9 | Tax paid as per Form GSTR-3B | 24,000 |
| 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) | 6,000 |
| Table-14 | Differential tax paid on account declaration in table-10 & 11 |
2018-19: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2018-19 | As per books of accounts Outward Supply of Goods | 19,200 | |
| As per GSTR-3B Outward supply of Goods | 22,800 |
GSTR-9 of 2018-19.
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 28,800 |
| Table-9 | Tax payable | 28,800 |
| Table-9 | Tax paid as per Form GSTR-3B | 22,800 |
| 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) | 9,600 |
| Table -14 | Differential tax paid on account declaration in table-10 & 11 | – |
2019-20: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2019-20 | As per books of accounts Outward Supply of Goods | 20,400 | |
| As per GSTR-3B Outward supply of Goods | 14,400 |
GSTR-9. 2019-20
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 20,400 |
| Table-9 | Tax payable | 20,400 |
| Table -9 | Tax paid as per Form GSTR-3B | 14,400 |
| 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.57,600/-
- Outward supplies as per 3B: Rs.57,600/-
- GSTR-9-(Table-4/Table-9 plus Table 10 minus Table11): Rs.57,600/-
How to show the above “Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19 both years and given effect of the same 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) | 19,200/- |
| 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 | 19,200/- |
| Table-5 Q | Turnover as declared in Annual Return i.e. Form GSTR-9 | 19,200/- |
| 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 | 19,200/- |
| Table-9 Q | The total amount paid as declared in Annual Return i.e. Form GSTR-9 | 19,200/- |
| Table-10 | The difference of Un-reconciled (if any) | NIL |
Dear Colleagues, I have provided Illustration-10.“Excess tax paid in Form GSTR-3B of F.Y.2017-18 and F.Y.2018-19 both years and given effect of the same 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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