In the Annual Return GSTR 9:
Part I covers basic details of the taxpayer in Tables 1, Table 2 and Table 3,
Part II covers the details on Outward Supplies . Most of the Part II is auto-populated. using GSTR 1, 3B and other returns filed with the Government.
Part III constitutes details on inward supplies and ITC details in Table 6, 7 and 8 , only some of the details can be derived from the data available at GST system. Rest needs to be computed by the taxpayers. We have previously covered details on ITC availed as declared in returns filed during the financial year in Table 6.
In this blog, let us look at the next table i.e. Table 7 in GSTR 9 related to ITC reversal .
GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. It includes reconciliation Statement for a particular FY to be filed by taxpayers on or before 31st December after being certified by CAs/CMA. However, the due date for the same has been extended to 30th June 2019 in the 31st GST Council Meeting. It must be filed along with or after filing of the GSTR-9 i.e. GST annual return.
GST ITC-01 is a ( Declaration for claim of input tax credit under sub-section 1 of section 18 ).
GST ITC-02 is a ( Declaration for transfer of ITC in case of sale, merger, demerger, amalgamation, lease or transfer of a business under sub-section 3 of section 18 ).
GST ITC-02A is a ( Declaration for transfer of ITC pursuant to registration under sub-section 2 of section 25 ).
GST ITC-03 is a ( Declaration for intimation of ITC reversal/payment of tax on inputs held in stock, inputs contained in semi-finished and finished goods held in stock and capital goods under sub-section 4 of section 18 ).
GST ITC-04 is a ( Details of goods sent to job worker and received back )