Question ID :
39356
GSTR 9
Do we need to show other income like interest income , creditors write back etc in GSTR 9 . If yes then where ?
Posted by
KISHORE RANE
on
Aug 19, 2019
Filed Under
GST
Interest Income being an exempt supply can be included in GSTR-9 but creditor write back is merely a book entry and does not entail any supply hence would not be a part of GSTR-9 but would form part of Table 5O of GSTR-9C - 'Adjustments in turnover due to reasons not listed above'.
With respect to interest income disclosure - it has to be disclosed in Table 5 of GSTR-9 as the inclusion in Table 10 of GSTR-9 would result in addition of the said amount in Table 7F of GSTR-9C as 'Taxable turnover as per liability declared in Annual Return (GSTR-9)'. Which would depict a wrong image.
It can be understood that GST Returns have not envisaged the exempt supply transaction disclosures in Table 10 or 11 of GSTR-9 hence for appropriate disclosures in GSTR-9C - it is recommended to disclose in TAble 5 of GSTR-9
Posted by
SACHIN AGARWAL on
Aug 20, 2019