Short tax paid in Form GSTR-3B of F.Y. 2017-18 and Excess tax paid in Form GSTR-3B of F.Y. 2018-19 and effect of the same given in F.Y. 2019-20 (Assuming).
Table of Contents
Short tax paid in Form GSTR-3B of F.Y. 2017-18 and Excess tax paid in Form GSTR-3B of F.Y. 2018-19 and effect of the same given in F.Y. 2019-20 (Assuming).
Herewith I giving with an example for your better understanding.
Illustration-9.
“ M/s. Raheem Corporation” doing business in the wholesale business. They had outward supply of goods worth of Rs.1,60,000/- as per books for the F.Y.2017-18. The rate of tax is @ 12 % and the Tax due Rs.19,200/-.They have filed GSTR-3B and mentioned his outward supply of goods by mistake worth of Rs.1,40,000/- and paid tax @12% of Rs.16,800/- for the F.Y. 2017-18.
In the year of 2018-19, they had an outward supply of goods worth Rs.1,80,000/- as per books and the GST rate is @12% and liable to pay GST Tax of Rs.21,600/-. They have filed GSTR-3 B and mentioned in GSTR-3B Outward supply of goods worth of Rs.2,00,000/- and paid GST Tax @12% of Rs.24,000/- 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.
In the year 2019-20, they had outward supplies 2,10,000/- as per books and the GST rate @12% and liable to pay a tax of Rs.25,200/- as per Form GSTR-3B they have mentioned outward supplies as Rs. 1,90,000/-and paid GST tax @12% of Rs. 22,800/-.
Ans: 2017-18
| Year | Table | Description | Amount in Rs. |
| 2017-18 | As per books of accounts Outward Supply of Goods | 19,200 | |
| As per GSTR-3B Outward supply of Goods | 16,800 |
GSTR-9 17-18 presentation:
| Table-4 | Detailed of advances, inward and outward supplies made during the financial year on which tax is payable. | 16,800 |
| Table -9 | Tax payable for the F.Y. | 16,800 |
| Table-9 | Tax paid as per Form GSTR-3B | 16,800 |
| Table-10 | Supplies/tax declared in next financial year through Amendments(+) (net of debit notes) | 2,400 |
| Table-11 | Supplies/tax declared in next financial year through Amendments(+) (net of credit notes) | – |
| Table-14 | Differential tax paid on account declaration in table-10 & 11 | 2,400
|
2018-19: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2018-19 | As per books of accounts Outward Supply of Goods | 21,600 | |
| As per GSTR-3B Outward supply of Goods | 24,000 |
GSTR-9 of 2018-19.
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 21,600 |
| Table-9 | Tax payable | 21,600 |
| 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) | 2,400 |
| 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 | 25,200 | |
| As per GSTR-3B Outward supply of Goods | 22,800 |
GSTR-9. 2019-20
| Table-4 | Details of advances, inward and outward supplies made during the financial year on which tax is payable. | 25,200 |
| Table-9 | Tax payable | 25,200 |
| 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 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.66,000/-
- Outward supplies as per 3B plus DRC-03-Refund: Rs.66,000/-
- GSTR-9-(Table-4/Table-9 plus Table 10 minus Table11): Rs.66,000/-
How to show the above “Short tax paid in Form GSTR-3B of F.Y.2017-18 and Excess tax paid in Form GSTR-3B of F.Y.2018-19 and effect of the same given 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) | 21,600/- |
| 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 | 21,600/- |
| Table-5 Q | Turnover as declared in Annual Return i.e. Form GSTR-9 | 21,600/- |
| 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 | 21,600/- |
| Table-9 Q | The total amount paid as declared in Annual Return i.e. Form GSTR-9 | 21,600/- |
| Table-10 | The difference of Un-reconciled (if any) | NIL |
Dear Colleagues, I have provided Illustration-8. “Short tax paid in Form GSTR-3B of F.Y.2017-18 and Excess tax paid in Form GSTR-3B of F.Y.2018-19 and effect of the same given 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.
