GST Annual Return: GSTR-9 and GSTR-9C are Available for filing

The GST annual return forms, GSTR-9 and GSTR-9C are available on the portal for filing. GSTR 9 is a Return Form and GSTR-9C is a Reconciliation Statement. The last date for filing the annual statement and return are 31st December 2022.

The GSTR-9 form is an annual return that has to be filed by all registered taxable persons under GST. The GSTR-9C is the GST reconciliation Statement for a particular FY on or before 31st December. The reconciliation must also be certified by a CA for the companies having a turnover of more than 5 crores.

Last month, the Central Board of Indirect Taxes and Customs ( CBIC ), on the recommendations of the GST Council, has exempted taxpayers having turnover up to 2 crores from the filing of annual returns in forms GSTR-9 and 9A. The GST Council’s 47th meeting held at Chandigarh on June, decided to exempt the small taxpayers from the compliance of annual returns.

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. 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 the extensive reconciliation of data for 100% transparent disclosures.

TDS Credit on Accrued Income is allowable, if it was not claimed in earlier years: ITAT

The Delhi bench Income Tax Appellate Tribunal (ITAT) ruled that TDS credit on accrued income is allowable if it was not claimed in earlier years.

The assessee, Ujjwal Singh declared income of Rs.1,01,79,310/- and claimed credit for TDS amounting to Rs.5,70516/- deducted by the deductor, KIN Finserv LLP in the preceding Assessment Year 2015-16. The assessee claimed credit of TDS in Assessment Year 2016-17 on the ground that the bill was raised on 01.08.2015 and thus the income accrued was also included in the return of income in the Assessment Year 2016-17.

The assessee claims to have reported an income of Rs.5,70516/- based on invoices dated 01.08.2015 in the Assessment Year 2015 – 16 which was denied by the AO on the ground that such TDS was not reflected in the annual information statement in form 26AS generated by the Revenue.

It was contended that as per the law laid down in Section 199 r.w. Rule 37BA (3), the credit for TDS shall be allowed by the Assessing Officer in the year when the income has been offered by the assessee.

The Tribunal observed that the income has been offered by the assessee in the year of its accrued in Assessment Year 2016-17 and the credit for TDS deserves to be allowed in Assessment Year 2016-17 as claimed in terms of Section 199 r.w. Rule 37BA (3).

It was observed that the assessee is entitled to TDS corresponding to the income reported in Assessment Year 2016-17 only on satisfying the condition that the assessee has not claimed any credit for TDS in earlier the Assessment Year 2015-16.

Shri Saktijit Dey, judicial member & Shri Pradip Kumar Kedia, accountant member set aside the impugned order of the CIT(A) and restored the matter to the file of the Assessing Officer for grant of credit by the law.

GST: Reimbursement of Toll Charge liable to include in the Value of Supply and are Taxable rules AAR

The Tamil Nadu Authority for Advance Ruling ( AAR ) has held that reimbursement of toll charges is liable to include in the value of supply and is taxable under GST Act.

The applicant, NTL India Private Limited engaged in providing services namely rental services of road vehicles including buses, coaches, cars and other motor vehicles, with operator classified under HSN Code 996601 and other transport services classified under HSN Code 996799 and are discharging GST at appropriate rates.

The details about the activity of renting services (996601) were submitted by the applicant but failed to submit details about activities falling under SAC 996799 which have been said to be undertaken by them.

Further stated that they were entering into a contract with their clients to pick up employees of their clients from the specific pick-up points and drop them in their office premises for which they raise invoices every month and discharge tax accordingly and the toll charges at different locations were reimbursed by their clients, by indicating toll charges separately in the invoices raised.

It was evident that the exemption under Notification No. 12/2017-CT (rate) dated 28.06.2017 was available to the service provider only and not to the service receivers. The authority observed that the cost of toll charges which are paid by the applicant and later reimbursed by their clients should be included in the value of supply and tax be payable at the applicable rate on the entire value of the supply, including toll charges paid.

Shri T G Venkatesh, I.R.S., Additional Commissioner and Smt. K Latha Joint Commissioner (ST) ruled that “the Applicant is a service provider of transportation services to their clients and the reimbursed toll charges should be included in the value of supply and tax be paid at the appropriate rates on the entire value of supply.