Claim of ITC in GSTR-9

Claiming of ITC in GSTR-9

To get avail of claim of ITC in GSTR-9 businesses need to ensure that they have paid the GST to their suppliers and that their suppliers have filed their returns and paid the GST to the government. Additionally, they need to ensure they have filed all the GST returns, GSTR-3B, GSTR-1, GSTR-2A and GSTR-2B during the financial year.

CLAIM YOUR ITC IN THE FORM GSTR-9 BY 30TH NOVEMBER 2022

What is the GSTR-9 annual return?

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note:

  • It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.
  • It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.

Who should file GSTR-9, the annual return?

All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9:

  • Taxpayers opting for composition scheme (They must file GSTR-9)
  • Casual Taxable Person
  • Input Service Distributors
  • Non-resident taxable person
  • Persons paying TDS under section 51 of the CGST Act.

GSTR-9 ALLOWS TO CLAIM YOUR ITC AND AMEND INVOICES TILL NOVEMBER 2022

Amid conflicting opinions & interpretations, the CBIC has issued a notification as proposed during Budget 2022, to allow Input Tax Credit (ITC) claims and amendment of invoices till 30th November 2022.

This will write-off all confusions associated with the subject matter. Notification No:.22 /2022 CT- dt: 15-11-2022, states that “In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in FORM GSTR-9, under the heading Instructions, in paragraph 7, –

(A) for the figures, letters and words “between April, 2022 to September, 2022”, the figures, letters and words “of April, 2022 to October 2022 filed upto 30th November, 2022” shall be substituted;

(B) in the Table, in second column, –

(I) against serial numbers 10 & 11, for the figures and words “April, 2022 to September, 2022”, the figures, letters and words “April, 2022 to October, 2022 filed upto 30th November 2022” shall be substituted;

(II) against serial number 12, for the figures and words “April 2022 to September 2022”, the figures, letters and words “April 2022 to October, 2022 upto 30th November, 2022” shall be substituted;

(III) against serial number 13, for the figures and words “April 2022 to September 2022”, the figures, letters, and words “April 2022 to October, 2022 upto 30th November, 2022” shall be substituted.” In line with this recent change in the GST Law the GST portal has also started allowing the amendment related to FY 2021-22 in October 2022 return period. So, the taxpayer can amend the details of taxable outward supplies made to the registered person that is already reported in table 4A, 4B, 6B, 6C – B2B Invoices. The taxpayer shall provide the financial year and invoice number and click on Amend Record to search for the relevant invoice.

Importantly, 30th November is the deadline only for making GSTR-1 amendments and claiming pending input tax credit (ITC) for FY 2021-22.

However, the actual due date is dependent on November’s GSTR-1/GSTR-3B filing deadlines (i.e. pertaining to October’s return period).

If a taxpayer misses the relevant deadlines, the GSTR-1/3B cannot be revised. Pending ITC for FY 2021-22, if any, will be forfeited forever.

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