GST GSTR-9 Annual Return Detailed Analysis –

1. What is GSTR-9?*

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGSTand IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.

2.Who should file GSTR-9 ?

All the registered taxable persons under GST must file GSTR 9. However, following persons are not required to file GSTR 9
    Casual Taxable Person
    Input service distributors
    Non-resident taxable persons

    Persons paying TDS under section 51 of GST Act.

3. What are different types of return under GSTR-9 ?

There are 4 types of return under GSTR 9 :
        GSTR 9  : GSTR 9 should be filed by the regular taxpayers filing GSTR 1, GSTR 2, GSTR 3.
        GSTR 9A – GSTR 9A should be filed by the persons registered under composition scheme under GST.
        GSTR 9B – GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8 during the financial year.

        GSTR 9C – GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs  2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.

4. When is GSTR-9 due ?

GSTR-9 shall be filed on or before 31st December of the subsequent financial year.

For instance for FY 2017-18, the due date for filing GSTR 9 is 31st December, 2018.

  5. What is the Penalty for the late filing of GSTR-9 return ?

Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, total penalty is Rs 200 per day of default. There is no late fee on IGST.

6. Details to be provided in GSTR-9

GSTR 9  has total of 9 sections.
1. Provide GSTIN:  Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). GSTIN of the taxpayer will be auto-populated at the time of return filing.
2. Legal name of the registered person: Name of the taxpayer will be auto-populated at the time of logging into the common GST Portal.
2 C. Whether liable to Statutory Audit: Statutory audit is compulsory in case of companies and in case of individual/HUF if turnover exceeds Rs 1 crore.
3. Date of statutory Audit:  Mention the date of the statutory audit.
4. Auditors: Mention the name of the auditors of the entity who has audited the accounts of the entity.
5. Details of Expenditure: Details of goods and services purchased during the  financial year must be provided. Such information needs to be provided along with the HSN/ SAC codes applicable and the taxable value of such goods and services. These details are mentioned in GSTR 2. This information is divided into following heads :
a) Total value of purchases on which ITC availed (inter-State)
b) Total value of purchases on which ITC availed (intra-State)
c) Total value of purchases on which ITC availed (Imports)
d) Other Purchases on which no ITC availed
e) Sales Return
f) Other Expenditure (Expenditure other than purchases)
6. Details of income: Details of all supplies and sales made during the year needs to be provided here. Such details are also mentioned in GSTR 1. These categories are as follows :
a) Total value of supplies on which GST paid (inter-State Supplies) : It includes the supplies made in other states on which IGST is paid.
b) Total value of supplies on which GST Paid (intraState Supplies) : It includes supplies within the state on which SGST and CGST is paid.
c) Total value of supplies on which GST Paid (Exports): It includes export of goods and services made during the year on which IGST is paid
d) Total value of supplies on which no GST Paid (Exports) : It includes export of goods and services made during the year on which no IGST is paid
e) Value of Other Supplies on which no GST paid : It includes the details of supply of goods and services made during the year without any GST paid on it. i.e CGST and SGST in case of intra supply and IGST in case of inter state supply.
f) Purchase Returns : Detail of purchase return made during the year is to be provided here.

g) Other Income (Income other than from supplies) : Any other income earned during the year other than supplies mentioned in above points should be mentioned here.

7. Return Reconciliation Statement

After furnishing all the information, the system will auto-reconcile the transactions and will determine tax liability payable against the tax actually paid. The system will also populate the amount of tax difference, interest,  penalty if any.

8. Other

If there is any other payable the same will be auto-populated here. It may include arrears or any liability because of the assessment.

9. Profit as per the Profit and Loss Statement

In this section, mention the breakup of gross-profit, profit after tax and net profit.
Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to authenticate the return.

New return filing procedure will be as under from – 1st October 2018

New return filing procedure will be as under:

1. NIL return filers and composition filers will file quarterly returns

2. New return filing procedure will be implemented from 1st October 2018.

3.Single return will filed for a month

4. B2B transactions will be reported invoice wise and HSN code 4 digit

5.Provisional credit will be allowed for 6 months.

6.Deviation will be communicated to the buyer

7.After 6 months from the implementation of new return no provisional credit.

8. ITC will be autopopulated no manual intervention

9. Right to ITC will be available only on uploaded invoices.

10. First seller will scrutinized by the department . In case they are unable to catch the seller then Buyer will have to pay

GST Billing  

GST Updates – Council 27th Meeting Update dated – 04-May-2018

GST council meet today. It was 27th meeting of GST council. There were two major decisions in GST Council today which were regarding *one monthly return* for all dealers except some dealers and *change in Shareholding Pattern of GSTN Network* . There were two more points discussed like incentive to promote digital payments and cess on sugar. Final Decision on these two shall be taken later.

Summary of today’s discussion is as follows:

1. *One Monthly Return* :

a. For all Taxpayers EXCEPT Composition dealers & dealers having NIL transactions shall file monthly return.

b. Return Filing dates shall be staggered based on turnover of registered person to manage load on IT System.

c. Composition dealers & dealers having NIL transactions shall have facility to file QUATERLY Return.

2. *Unidirectional Flow of Invoices* :

a. Invoices for B2B transaction shall need to use HSN at four digit level or more to achieve uniformity in the reporting systems.

b. Seller can upload invoices anytime during the month.

c. Buyer would also be able to continuously see the uploaded invoices during the month.

3. *Simple Return design and easy IT interface* :

a. The B2B dealers will have to fill invoicewise details of the outward supply made by them.

b. On the basis of invoicewise details, tax liability will be calculated automatically.

c. ITC shall be also calculated by the system on the basis of Invoices uploaded by the seller (as per above mentioned Point-2)

4. *No Automatic reversal of Credit* :

a. There shall not be any automatic reversal of ITC from buyer due to non-payment of tax by the seller.

b. In case of the *default in payment of tax by the seller* , recovery shall be made from seller .

c. However in case of exceptional situations reversal of credit from buyer shall also be the option before authorities. Such exceptional situations could be:

i. Dealer Missing

ii. Closure of Business

iii. Supplier not having adequate assets etc.


a. *Stage-1* : Present filing of GSTR-1 & GSTR-3B shall continue. GSTR-2 & GSTR-3 shall remain suspended.

b. *Stage-2* : The new return will have facility for invoice-wise data upload and also facility for claiming ITC on basis of self-declaration basis, as in case of GSTR-3B now.

c. *Stage-3* : After 6 months of Stage-2, *the facility of provisional credit will be withdrawn* and ITC shall be limited to the invoices uploaded by the seller.

6. *Content of Returns* :

a. Return shall be simplified also by reducing the content/information required to be filed.

b. Law Committee will finalize details of design of return.

7. *Change in Shareholding Pattern of GSTN*

a. Currently Central Government and State Governments holds 24.50% each and remaining 51% are held by Non-Government Institutions.

b. Council has decided to acquire entire 51% equity held by Non-Government Institutions in GSTN equally by the Centre & the State governments.

c. Post acquisitions  GSTN Board shall be allowed to continue the existing staff at existing terms and conditions for the period upto 5 years.

8. *Incentive to promote Digital Transactions*

a. Council has discussed (NOT FINALIZED) in detail the proposal of a concession of 2% in GST Rate on B2B supplies for which payment is made through cheque or digital mode.

b. Where GST Rate is 3% or more, 1% each applicable from CGST & SGST.

c. Maximum celling of incentive is Rs. 100/- per transactions.

9. *Imposition of Sugar Cess over and above 5% GST*

a. Keeping in view of record production of   sugar in the current sugar season and consequent depressed sugar prices, Council discussed the *imposition of sugar cess* .

b. Council has recommended for *setting up of a Group of Ministers from State* to look into the proposal & *make recommendations within two week.*


The Commissioner of State Tax, Maharashtra has issued a notification amending an earlier notification which stated that on or after the 1st April 2018, no e-way bill shall be required to be generated, for the intra-State movement that commences and terminates within the State of Maharashtra, in respect of any goods of any value. As per clause 2 of the earlier notification, the notification shall be in force until further orders are issued.

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The new notification has amended clause 2 and has fixed an expiry date for the Notification, i.e. 30th April 2018.

This would mean that from 1st May onwards e-way bill will become a requirement for the intra-State movement that commences and terminates within the State of Maharashtra. Already six States-Karnataka, Andhra Pradesh, Gujarat, Kerala, Telengana, Uttar Pradesh has implemented e-way bill system for intra-state movement of goods.

E-way bills will be mandatory for intra-State trade in respect of these six more states- Bihar, Jharkhand, Haryana, Madhya Pradesh, Tripura and Uttarakhand -from April 20.


The government has advanced the deadlines for filing of seller forms under the

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(goods and services tax), GSTR-1, for April, May and June 2018 in comparison to those given for previous months.

GSTR-1 for the month of April will have to be filed by May 31 2018. Earlier, 40 days were given for filing these, which would have made June 10, 2018 the deadline. Returns for May have to be filed by June 10, 2018 and for June by July 10, 2018. So, only 10 days after the month ends, against the earlier 40 days.

The government has not changed the deadline for filing GSTR-3B. These are to still be filed by the 20th of the following month. The idea is to allow reconciliation between the two forms, GSTR-3B and GSTR-1. According to the original plan, the GST Council had decided to give only 10 days to file GSTR-1, after which GSTR-2, the return for buyers, had to be finalised and filed within the next five days. These were to be then used for filing GSTR-3 forms, to claim credits.

The over complicated returns prompted the Council to redo this. GSTR-1 was retained; GSTR-2 and GSTR-3 forms were suspended. In place of GSTR-3 came GSTR-3B, meant for the initial months but continuing.

The government gave 40 days for an assesses to file GSTR-1 after the month in question ended. Since GSTR-2 has been suspended, such reconciliation will enable companies to liase with their vendors to rectify any incorrect recording at their end.



Tax Audit – Relevant Clauses in case of Bank Audit

1. Clause 9 (b) and (c)*- Books of Accounts Maintained and Examined – Generally printed list.

2. Clause 14*- Particulars of Depreciation allowable –Details of Purchase, Sale, Transfer and Disposal/ Write-off of Fixed Assets to be verified by Branch Auditor.- Depreciation calculation – generally at HO.

3. Clause 17(a)*– Any amount of Capital Expenditure debited to Profit and Loss A/c.

4. Clause 17(e)*– Expenditure by way of Penalty or Fine for violation of any law debited to Profit and Loss A/c.

5. Clause 17(f)*– Any amount inadmissible u/s 40(a):

(a) Amount inadmissible u/s 40(a)(i):

– Any interest paid to a Non-Resident person or to a Foreign Company without TDS.

(b) Amount inadmissible u/s 40(a)(i)(a):

– Any interest, commission, brokerage, fees for Professional/ Technical Services or Contract Amount paid to a Resident

person without TDS.

(c) Amount inadmissible u/s 40(a)(i)(a):

– Any tax, interest or penalty under Income Tax Act or Wealth Tax Act debited to P&L A/c.

6. Clause 17(h)*– Section 40A(3) read with Rule 6DD:

– Whether any amount is inadmissible u/s 40A (3) read with Rule 6DD – relating to disallowance of any expenditure paid otherwise than by A/c. Payee Cheque?

– Obtain a Certificate from the Branch Management relating to payments covered u/s 40A(3).

7. Clause 21*- Bank’s Contribution and Employees’Contribution to Provident Fund- Annexure details to be verified.

Particulars of Income/ Expenditure of Prior Period credited or Debited to the Profit and Loss A/c. of the Current Year

8. Clause 27*- Compliance of TDS provisions:

– Verify TDS compliance under all relevant sections like Salary, Interest, Interest to NRI, Contract Payments, Technical & Professional Fees etc.

– Provide Details of :

(a) Tax Deductible but not deducted at all.

(b) Shortfall on account of lesser TDS than required.

(c) Tax Deducted late

(d) Tax Deducted but not paid to Central government

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Books of Accounts – Indian Companies Act, 2013 and GST Act, 2017

Maintenance of books of accounts and necessary supporting and relevant records are highly essential requirements for proper management and control of the business operations. This will facilitate the correct receipt and payment of cash and other transactions entered by the company. It is mandatory to maintain the books of accounts under Indian Companies Act, 2013 and GST Act, 2017. Hence accounts maintenance in India is compulsory.

 Under GST Act, 2017, as per section 35 of the CGST Act, 2017,

“Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of—
Production or manufacture of goods;
Inward and outward supply of goods or services or both;
Stock of goods;
Input tax credit availed;
Output tax payable and paid; and
Such other particulars as may be prescribed.”

Accordingly, a registered person under GST is require to maintain the records as mentioned in section 35 of the CGST Act, 2017.

However, a person may maintain additional records for decision making or for other useful information, such as:
Import/export of goods/services, if any;
Supplies attracting Reverse charge (from unregistered person or specified services/goods);
Advances received/paid and adjustments made;
Records for receipt of goods and services from registered person;
Details for Import of goods including bill of entry and other related documents;
Returns, payment challans, debit note and credit notes;
Financial statements;
Electronic records of tax liability , cash , credit ledger
Bank statements and pay-in slips;
Records for manner of computation of GST liability;
Records for availment and utilisation of credit;
GST reconciliation statement;
Electronic records of:-
tax liability
Job work register;
Security Deposit Register.
Important Points to be Noted :

Where more than one place of business is specified in the certificate of registration then the accounts relating to each place of business shall be kept at such places of business;
The registered person may keep and maintain such accounts and other particulars in electronic form in prescribed manner;
Every owner or operator of warehouse or godown or any other place used for storage of goods and every transporter (irrespective of whether he is a registered person or not) shall maintain records of the consigner, consignee and other relevant details of the goods in the prescribed manner;

Every registered person whose turnover during a financial year exceeds the two crore rupees [Rule 80(3) of the CGST Rules, 2017] shall get his accounts audited by achartered accountant or a cost accountant and shall submit a copy of the audited annual accounts, the reconciliation statement and such other documents in prescribed form and manner;

Every registered person, other than a person paying tax under section 10, i.e., composition scheme, shall maintain the accounts of stock in respect of goods received and supplied by him, and such accounts shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free sample and the balance of stock including raw materials, finished goods, scrap and wastage thereof;

Every registered person is required to keep the particulars of the each and every supplier , recipient and the warehouses;
In case where goods found stored without any legal documents, then in this case proper office may determine the tax on such goods considering that the goods have been supplied by the registered person;
Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out under attestation and thereafter the correct entry shall be recorded and where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained;
Every registered person manufacturing goods shall maintain monthly production accounts showing quantitative details of raw materials or services used in the manufacture and quantitative details of the goods so manufactured including the waste and by products thereof

Every registered person supplying services shall maintain the accounts showing quantitative details of goods used in the provision of services, details of input services utilised and the services supplied;

Every registered person executing works contract shall keep separate accounts for works contract showing – (a) the names and addresses of the persons on whose behalf the works contract is executed; (b) description, value and quantity (wherever applicable) of goods or services received for the execution of works contract; (c) description, value and quantity (wherever applicable) of goods or services utilized in the execution of works contract; (d) the details of payment received in respect of each works contract; and (e) the names and addresses of suppliers from whom he received goods or services.
Recording of goods lost or stolen etc.

A person is required to record the details of goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples properly in its books of accounts. In case where the registered person fails to account for the goods or services or both then the proper officer shall determine the amount of tax payable on the goods or services or both that are not accounted for, as if such goods or services or both had been supplied by such person and the provisions of section 73 (Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any willful misstatement or suppression of facts) or section 74 (Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any willful misstatement or suppression of facts), as the case may be, shall, mutatis mutandis, apply for determination of such tax.

Period of Retention of Accounts [Section 36 of the CGST Act, 2017]

Under GST, every registered person required to keep and maintain/retain books of account or other records until the expiry of 72 months from the due date of furnishing of annual return, i.e., 31st December for the year pertaining to such accounts and records.
It may be noted that a registered person, who is a party to an appeal or revision or any other proceedings before any Appellate Authority or Revisional Authority or Appellate Tribunal or court, whether filed by him or by the Commissioner, or is under investigation for an offence under Chapter XIX, shall retain the books of account and other records pertaining to the subject matter of such appeal or revision or proceedings or investigation for a period of 1 year after final disposal of such appeal or revision or proceedings or investigation, or for the period specified above, whichever is later.

Ledger Accounts to be maintained Under GST

The CGST and SGST will be charged on intra-state supplies whereas the IGST will be charged on all inter-state supplies. Therefore separate ledger account is required to be maintained related to CGST, SGST/UTGST, IGST and Compensation Cess.

TrueRatingERP GST Invoice Bill Books- As per Rule 46(b) of the GST Rules, 2017

GST Rule for Bill Books  *As per Rule 46(b) of the CGST Rules, 2017*

A *_new bill book_* is to be maintained for every new Financial Year.

*Today i.e. 01/04/2018* is the beginning of new Financial Year 2018-2019. Hence, the organization has to comply with the above mentioned rule.

*Please note -*

This _bill book has to be unique (using mixture of alphabets, numbers, hyphen, etc.)_ and consecutively numbered.
The maximum digits allowed are 16 (including Special Characters).

*Example of unique series -*

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Menu Keyboard Shortcut for using TrueRatingERP – GST Billing Accounting Software

Please find the following list of HOT-KEYS or Keyboard Shortcut keys or Quick Access Keys that you can use to quickly open any Menu item in TrueRatingERP – Fast, Easy and User Friendly – Simply Best ERP Software.

Shortcut Key Navigate with Hot Keys To (Quick Access)

alt h

Go to Dashboard

alt v

Go to View Created Invoices

alt p

Go to Create New Purchase Entry

alt i

Go to Create B2C -Retail Invoice (Name & Number)

alt t

Go to Create B2b  Invoice

alt a

Go to View, Update & Create Product

alt s

Go to View, Update & Create Supplier

alt b

Go to View and Print Barcode

alt f

Go to View, Add Financial Transaction

alt l

Go to View Live Product Stock

alt m

Go to View, Update & Create B2B Customers

alt n

Go to View, Update & Create B2C Customers

alt r

Go to Sales Return

alt e

Go to Purchase Return


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