Notification no 49/2018 Central Tax date on 13th September, 2018, GST

Posted on 11 June 2022 Category : Notifications

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Central Tax Notification No 49 of 2018 dt 13th September, 2018 under GST

Notification amending the CGST Rules, 2017 (Tenth Amendment Rules, 2018)

The extract of GST Notification No. 49/2018- Central Tax is given below:

Notification No. 49/2018- Central Tax, GST

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Central Board of Indirect Taxes and Customs

Notification No. 49/2018 – Central Tax

New Delhi, the 13^th September, 2018

G.S.R……(E).- In exercise of the powers conferred by section 164 of the Central Goods and

Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-

(1) These rules may be called the Central Goods and Services Tax (Tenth Amendment) Rules, 2018.

(2) They shall come into force on the date of their publication in the Official Gazette.

In the FORMS to the Central Goods and Services Tax Rules, 2017, after FORM GSTR-9A, the following shall be inserted, namely:-

“FORM GSTR-9C

See rule 80(3)

PART – A - Reconciliation Statement

Pt. I

Basic Details

Financial

Year

GSTIN

12%

18%

Legal Name

< Auto>

Trade Name

(if any)

<Auto>

Are you liable to audit under any Act?

<<Please specify>>

(Amount in ? in all tables)

Pt.

Reconciliation of turnover declared in audited Annual Financial Statement with

turnover declared in Annual Return (GSTR9)

Reconciliation of Gross Turnover

Turnover (including exports) as per audited financial

statements for the State / UT (For multi-GSTIN units under

28%

same PAN the turnover shall be derived from the audited

Annual Financial Statement)

Unbilled revenue at the beginning of Financial Year

(+)

Unadjusted advances at the end of the Financial Year

(+)

Deemed Supply under Schedule I

(+)

Credit Notes issued after the end of the financial year

(+)

but reflected in the annual return

Trade Discounts accounted for in the audited Annual

(+)<

0.25%

0.10%

Input Tax

	Return (GSTR 9).

6	Reasons for non-reconciliation between the annual turnover declared in the
	audited Annual Financial Statement and turnover as declared in the Annual
	Return (GSTR 9) shall be specified here.

7	The table provides for reconciliation of taxable turnover from the audited
	annual turnover after adjustments with the taxable turnover declared in annual
	return (GSTR-9).

7A	Annual turnover as derived in Table 5P above would be auto-populated here.

7B	Value of exempted, nil rated, non-GST and no-supply turnover shall be
	declared here. This shall be reported net of credit notes, debit notes and
	amendments if any.

7C	Value of zero rated supplies (including supplies to SEZs) on which tax is not
	paid shall be declared here. This shall be reported net of credit notes, debit
	notes and amendments if any.

7D	Value of reverse charge supplies on which tax is to be paid by the recipient
	shall be declared here. This shall be reported net of credit notes, debit notes
	and amendments if any.

7E	The taxable turnover is derived as the difference between the annual turnover
	after adjustments declared in Table 7A above and the sum of all supplies
	(exempted, non-GST, reverse charge etc.) declared in Table 7B, 7C and 7D
	above.

7F	Taxable turnover as declared in Table 4N of the Annual Return (GSTR9) shall
	be declared here.

8	Reasons for non-reconciliation between adjusted annual taxable turnover as
	derived from Table 7E above and the taxable turnover declared in Table 7F
	shall be specified here.

Table No.	Instructions

9	The table provides for reconciliation of tax paid as per reconciliation statement
	and amount of tax paid as declared in Annual Return (GSTR 9). Under the
	head labelled ?RC?, supplies where tax was paid on reverse charge basis by
	the recipient (i.e. the person for whom reconciliation statement has been
	prepared ) shall be declared.

9P	The total amount to be paid as per liability declared in Table 9A to 9O is auto
	populated here.

9Q	The amount payable as declared in Table 9 of the Annual Return (GSTR9)
	shall be declared here. It should also contain any differential tax paid on Table
	10 or 11 of the Annual Return (GSTR9).

Table No.	Instructions

5A	The turnover as per the audited Annual Financial Statement shall be declared
	here. There may be cases where multiple GSTINs (State-wise) registrations
	exist on the same PAN. This is common for persons / entities with presence
	over multiple States. Such persons / entities, will have to internally derive
	their GSTIN wise turnover and declare the same here. This shall include
	export turnover (if any). It may be noted that reference to audited Annual
	Financial Statement includes reference to books of accounts in case of persons
	/ entities having presence over multiple States.

5B	Unbilled revenue which was recorded in the books of accounts on the basis of
	accrual system of accounting in the last financial year and was carried forward
	to the current financial year shall be declared here. In other words, when GST
	is payable during the financial year on such revenue (which was recognized
	earlier), the value of such revenue shall be declared here.
	(For example, if rupees Ten Crores of unbilled revenue existed for the
	financial year 2016-17, and during the current financial year, GST was paid on
	rupees Four Crores of such revenue, then value of rupees Four Crores rupees
	shall be declared here)

5C	Value of all advances for which GST has been paid but the same has not been
	recognized as revenue in the audited Annual Financial Statement shall be
	declared here.

5D	Aggregate value of deemed supplies under Schedule I of the CGST Act, 2017
	shall be declared here. Any deemed supply which is already part of the
	turnover in the audited Annual Financial Statement is not required to be
	included here.

5E	Aggregate valp>

14	This table is for reconciliation of ITC declared in the Annual Return (GSTR9)

Table No.	Instructions

12A	ITC availed (after reversals) as per the audited Annual Financial Statement
	shall be declared here. There may be cases where multiple GSTINs (State-
	wise) registrations exist on the same PAN. This is common for persons /
	entities with presence over multiple States. Such persons / entities, will have
	to internally derive their ITC for each individual GSTIN and declare the same
	here. It may be noted that reference to audited Annual Financial Statement
	includes reference to books of accounts in case of persons / entities having
	presence over multiple States.

12B	Any ITC which was booked in the audited Annual Financial Statement of
	earlier financial year(s)but availed in the ITC ledger in the financial yearfor
	which the reconciliation statement is being filed for shall be declared here.
	This shall include transitional credit which was booked in earlier years but
	availed duringFinancial Year 2017-18.

12C	Any ITC which has been booked in the audited Annual Financial Statement of
	the current financial year but the same has not been credited to the ITC ledger
	for the said financial year shall be declared here.

12D	ITC availed as per audited Annual Financial Statement or books of accounts
	as derived from values declared in Table 12A, 12B and 12C above will be
	auto-populated here.

12E	Net ITC available for utilization as declared in Table 7J of Annual Return
	(GSTR9) shall be declared here.

13	Reasons for non-reconciliation of ITC as per audited Annual Financial
	Statement or books of account (Table 12D) and the net ITC (Table12E)

	availed in the Annual Return (GSTR9) shall be specified here.	against the expenses booked in the audited Annual Financial Statement or
	books of account. The various sub-heads specified under this table are general
	expenses in the audited Annual Financial Statement or books of account on
	which ITC may or may not be available. Further, this is only an indicative list
	of heads under which expenses are generally booked. Taxpayers may add or
	delete any of these heads but all heads of expenses on which GST has been
	paid / was payable are to be declared here.

14R	Total ITC declared in Table 14A to 14Q above shall be auto populated here.

14S	Net ITC availed as declared in the Annual Return (GSTR9) shall be declared
	here. Table 7J of the Annual Return (GSTR9) may be used for filing this
	Table.

15	Reasons for non-reconciliation between ITC availed on the various expenses
	declared in Table 14R and ITC declared in Table 14S shall be specified here.

16	Any amount which is payable due to reasons specified in Table 13 and 15
	above shall be declared here.