Key Changes in Annual Return as compare to previous notified format of Annual Return
As per the notification 74/2018 dated 31.12.2018 the new updated format is notified by the government in that notification following amendment/clarification are brought by the government:
- It is mandatory to file the GSTR1 and GSTR3B for the financial year 2017-18 before filing GST annual return.
- Additional liability discovered while filing GSTR9 then it is required to pay through DRC-03 and paid through cash only.
- ITC Credit in 3B can be more than GSTR-2A, in such case the value that appears in Row 8D will be negative.
- Non-GST supply as they refer in Schedule III also required to be reported in table 5F.
- The Credit available but not availed and Credit available but ineligible credit shall also be declared in Table 8E and 8F.
- HSN Wise Summary of inward supplies of only those goods are reported whose independent value accounts for 10% or more of total value of inward supplies.
- Apart from that the word “declared” are substituted with word “made” in respect of major heading of Annual return, to brought clarification that data required to be reported in the Annual Return pertaining from returns filed from July to March 18. Earlier there was a confusing that data pertains to march return are not required to be shown here just because of the word declared are mentioned there and that return are filed after March 18.