With the introduction of the concept of GST Audit, it is important to know and taken int consideration various facts that is needed before we conduct GST Audit. In this presentation, we have covered the concept of filing of GSTR 9C, its applicability and various other topics that one should take care of. The presentation also covers an example of GSTR 9C based upon a hypothetical case. The PPT is a one shot compilation of various topics associated with GSTR 9C - GST Audit.
UPDATED PPT ON TABLE BY TABLE POINTS ON GST ANNUAL RETURN GSTR-9. CHECK POINTS OF GSTR-9 COUPLED WITH REFERENCE TO GST AUDIT GUIDE YOU TO ANNUAL COMPLIANCE UNDER GST.
The PPT contains provision relating to GST Annual Return and form notified. (Please note the understanding is based on the law and format prevailing as on date of uploading and there are some onion and interpretation involve which may vary).
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
GST Audit and GST Annual Return
presentation on GST Audit and Annual Return.
Covering handy material on Relevant provisions governing GST Audit , indicative checklists and summarized contents of annual return and Reconciliation statement
A quick reference for professionals
UPDATED PPT ON TABLE BY TABLE POINTS ON GST ANNUAL RETURN GSTR-9. CHECK POINTS OF GSTR-9 COUPLED WITH REFERENCE TO GST AUDIT GUIDE YOU TO ANNUAL COMPLIANCE UNDER GST.
The PPT contains provision relating to GST Annual Return and form notified. (Please note the understanding is based on the law and format prevailing as on date of uploading and there are some onion and interpretation involve which may vary).
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
GST Audit and GST Annual Return
presentation on GST Audit and Annual Return.
Covering handy material on Relevant provisions governing GST Audit , indicative checklists and summarized contents of annual return and Reconciliation statement
A quick reference for professionals
With the introduction of the concept of GST Audit, it is important to know and taken int consideration various facts that is needed before we conduct GST Audit. In this presentation, we have covered the concept of filing of GSTR 9C, its applicability and various other topics that one should take care of. The presentation also covers an example of GSTR 9C based upon a hypothetical case. The PPT is a one shot compilation of various topics associated with GSTR 9C - GST Audit.
I am not a professional to claim that this is the way to file GSTR-9. But can absolutely claim through my experience, The way I handle any GSTR-9 is represented through this slide. But obvious, by keeping an open mind for me every situation is unique and hence dealt accordingly
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
Brief presentation on GSTR -2B along with screenshots from the GST Portal.Ramandeep Bhatia
GSTR 2B is a static ITC statement which provides information regarding ITC available on the basis of returns filed by a supplier. Prepared a brief presentation on the subject along with screenshots from the GST Portal.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. In this webinar, we shall analyse and understand the forms GSTR-1 and GSTR-3B.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
GST returns types, applicability of returns with due date to different assessees, CGST, IGST, SGST, Returns for regular Dealer, Composition Dealer, Annual return,Monthly return, Quarterly Return
With the introduction of the concept of GST Audit, it is important to know and taken int consideration various facts that is needed before we conduct GST Audit. In this presentation, we have covered the concept of filing of GSTR 9C, its applicability and various other topics that one should take care of. The presentation also covers an example of GSTR 9C based upon a hypothetical case. The PPT is a one shot compilation of various topics associated with GSTR 9C - GST Audit.
I am not a professional to claim that this is the way to file GSTR-9. But can absolutely claim through my experience, The way I handle any GSTR-9 is represented through this slide. But obvious, by keeping an open mind for me every situation is unique and hence dealt accordingly
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
Brief presentation on GSTR -2B along with screenshots from the GST Portal.Ramandeep Bhatia
GSTR 2B is a static ITC statement which provides information regarding ITC available on the basis of returns filed by a supplier. Prepared a brief presentation on the subject along with screenshots from the GST Portal.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. In this webinar, we shall analyse and understand the forms GSTR-1 and GSTR-3B.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
GST returns types, applicability of returns with due date to different assessees, CGST, IGST, SGST, Returns for regular Dealer, Composition Dealer, Annual return,Monthly return, Quarterly Return
Reconciliation Statement and Certification under GST - Form GSTR 9CDVSResearchFoundatio
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. Under the Act, certain registered persons are required to carry out GST Audit and in such cases a reconciliation statement in Form GSTR 9C has to be filed. In this webinar, we shall analyse and understand the said form under the Act.
GSTR-9: Applicability, Due Date, Turnover Limit, and Compliance DetailsMYGST Refund
Explore the applicability, due dates, turnover limits, and essential compliance details related to GSTR-9. Stay informed and ensure seamless adherence to GST regulations with our comprehensive guide.
GSTR 9C Audit Form is notified by the Indian government for all the taxpayer. The form is divided into five parts and sixteen table. Check out the file process and formate of GSTR 9C form.
“Most awaited GST Annual Return (Form GSTR 9) and Audit Reconciliation Statement (Form GSTR 9C) are notified by Government vide Notification 39/2018 CT dated 4th Sep 2018 and 49/2018 CT dated 13th Sep 2018. Due date for filing of the same for F.Y. 2017-18 is 31st Dec 2018. Enclosing herewith Master Guide on GST Annual Return and Audit, covering:
§ How to Go Head with Annual Return and GST Audit
§ Important Provisions
§ Analysis of GSTR 9 Form and How to fill the same
§ Analysis of GSTR 9C Form and How to fill the same
Professional should plan their work and ensure to file the said forms before due date, without waiting for extension.”
Thanks & Regards
CA Swapnil Munot
+91 90212 65137
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
The GSTR 9 is a GST annual return form to be filed by the regular taxpayer once a year with all the consolidated details of SGST, CGST and IGST paid during the year. GSTR 9 form must be filed by all registered taxable persons under GST.
This presentation contains a discussion on the legal provision, notification, press release related to GSTR-9 Annual return of GST.
The presentation also contained walkthrough form GSTR-9 along with various case studies and illustrations.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. In this webinar, we shall analyse and understand the annual returns under GST.
Tax Audit - Changes in form 3CD - August 2014Ameet Patel
The Indian tax authorities have amended the tax audit report format recently. The changes are drastic and cast a huge responsibility on the already burdened tax auditors. The changes are discussed in this presentation.
The Revised Guidance Note on Tax Audit issued by ICAI has also been considered while preparing this presentation.
Only the new clauses or the amended clauses have been considered. The clauses that have not undergone any change have not been considered.
Slide contain discussion on GST Audit Provision , Rules & Format GSTR-9C Notified . Disclaimer - The law and provision are updated as on date of uploading , there are some interpretation involves which may vary.
A brief on recent changes in GST post 22nd and 23rd meetings of the GST Council. Please note that this is purely for educational/guidance purposes, and holds no legal validity
With the introduction of the concept of GST Audit, it is important to know and taken int consideration various facts that is needed before we conduct GST Audit. In this presentation, we have covered the concept of filing of GSTR 9C, its applicability and various other topics that one should take care of. The presentation also covers an example of GSTR 9C based upon a hypothetical case. The PPT is a one shot compilation of various topics associated with GSTR 9C - GST Audit.
With the introduction of the concept of GST Audit, it is important to know and taken int consideration various facts that is needed before we conduct GST Audit. In this presentation, we have covered the concept of filing of GSTR 9C, its applicability and various other topics that one should take care of. The presentation also covers an example of GSTR 9C based upon a hypothetical case. The PPT is a one shot compilation of various topics associated with GSTR 9C - GST Audit.
In this presentation, the concept of Affordable Housing is discussed from various angles such as income tax and GST. The PPT also analyses various components of Affordable housing scheme. It also takes into consideration various practical scenarios which are discussed in the form of case studies. The affordability as per public lending institution has also been covered. The presentation also covers various policies and programmes undertaken by the government for promotion of the same.Lastly, it also covers the impact of anti profiteering under the scheme.
After introduction of RERA, West Bengal has come up with its own legislation West Bengal Housing Industry Regulatory Act, 2017. There are various critical issues in this emerging law which can be addressed with the help of decisions and orders of numerous states.
This presentation covers a multidimensional view on impact and effect of GST on industry, economy, assessee, department and Government. An attempt is made to give justice to the multidimensional view of how things work in the industry and the future of GST impact on these stakeholders.
Complications of GST for Real-Estate and Developerssandesh mundra
This presentation contains the categories of units available with the developer as on the appointed day and the controversy attached with each category of unit. The presentation precisely covers all the controversies that could come up for the given category of unit.
An attempt to summarize the crucial aspects of maintaining records under GST is made. Apart from this, the presentation includes all types of audits proposed under GST regime. The system of return filling that the Group of Ministers are finalising together with GSTN officials and stakeholders is also included in the presentation. It also includes issues that may arise during filling of annual return and reconciliation statement.
An attempt to compile relevance of contractual clauses, technique of claiming back lost exemptions through doctrine of promissory estoppel, effect of repeals and omission and related judgments, is made. An overview of legal aspects for ongoing contracts is included.
Issues faced by Realtors and works contractorssandesh mundra
We have listed down several issues faced by Real estate and construction sector. A long list of issues are included separately for builders and works contractor for transition and post GST period.
Presentation contains cases and judgements delivered by courts pre-GST regime. A brief summary of all caselaws is made and an attempt is made to provide a bird's eye view of litigations arising in GST.
Presentation is prepared with the object of simplifying the interpretation issues and providing guidelines to read the rate schedules. Methods and mechanism of claiming tax free exports is also explained.
Goods and Service Tax in India is one of the biggest tax reform in Indirect Tax Regime. It is a destination bases tax levied on supply of Goods and Services. It includes impact of GST on several sectors. It also includes development of GST by way of notifications, circulars, press releases and other other compliances under GST.
Real Estate Regulation Act, 2016 which is in force since 1st Mat 2016 will finally get all its teeth on 1st May, 2017 with the setting up of the statewise Real Estate Regulatory Authorities
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
2. CA Sandesh Mundra
Form GSTR -9C
Part A – Reconciliation Statement Part B - Certification
Broad Heads of Reconciliation Statement
• Reconciliation of gross turnover.
• Reconciliation of taxable turnover.
• Reconciliation of tax paid.
• Reconciliation of Input Tax Credit (ITC)
• Reconciliation of ITC declared in GSTR
9 with ITC availed on expenses as per
books
• Auditor’s recommendation on
additional liability due to non –
reconciliation.
1. Certification in cases where
the reconciliation statement
(Form GSTR-9C) is drawn up
by the person who had
conducted the audit.
2. Certification in cases where
the reconciliation statement
(Form GSTR-9C) is drawn up
by a person other than the
person who had conducted
the audit of the accounts.
Two kinds of
formats –
when audit
is conducted
by auditor
and when it
is not
3. CA Sandesh Mundra
Special points on certification
• Classification aspect considered as noticed during audit and subject to information / declaration /
management representation received from client. It should be specified that all aspects of
classification not considered.
• Difference of opinion to be mentioned in certificate.
• Any non compliance of provisions of this Act to be mentioned in certificate.
• Management Representation that figures are true and correct
4. CA Sandesh Mundra
Why Reconciliation?
• GSTR 9C – Journey from Financial statements to Annual Return is true and correct.
• Turnover under GST is as per Time of supply provisions.
• Time of supply for services is earlier of invoice or payment.
• Time of supply for goods is issuance of invoice.
• Turnover in Financial Statement is as per IND AS or AS.
• GST Reconciliation is a reconciliation between turnover as per time of supply and turnover as
per financial statements.
9. CA Sandesh Mundra
What is different from earlier regime?
• Reconciliation with 26 AS only at the time of assessments. Now it is a part of GST
Audit.
• Prerequisites reconciliation. – 1 and 3B / 2A and 3B / Annual Return and 3B
• Mistakes committed in the first year.
• GST came in the middle of the financial year.
10. CA Sandesh Mundra
Turnover maze
S.N Particulars Situation 1 Situation 2 Situation 3 Situation 4
1Accounting of Invoice 17-18 17-18 17-18 Ap 18 - Se 18
2GSTR 1 - Invoice 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
3GSTR 3B - Invoice 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
4
Amendment in GSTR 1 -
Invoice 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
5
Amendment in GSTR 3B -
Invoice 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
6Accounting of Credit note 17-18 17-18 17-18 Ap 18 - Se 18
7GSTR 1 - Credit note 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
8GSTR 3B - Credit note 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
9
Amendment in GSTR 1 - Credit
note 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
10
Amendment in GSTR 3B -
Credit note 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
11. CA Sandesh Mundra
Turnover maze
S.N Particulars Situation 1 Situation 2 Situation 3 Situation 4
1Accounting of Invoice 17-18 17-18 17-18 Ap 18 - Se 18
2GSTR 1 - Invoice 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
3GSTR 3B - Invoice 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
4
Amendment in GSTR 1 -
Invoice 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
5
Amendment in GSTR 3B -
Invoice 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
6Accounting of Credit note 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
7GSTR 1 - Credit note 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
8GSTR 3B - Credit note 17-18 17-18 Ap 18 - Se 18 Ap 18 - Se 18
9
Amendment in GSTR 1 - Credit
note 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
10
Amendment in GSTR 3B -
Credit note 17-18 Ap 18 - Se 18 Ap 18 - Se 18 Ap 18 - Se 18
Reporting
Annual Return R as 17-18
R as 17-18 with
disclosure of
amendment NR NR
Audit Report R as 17-18 NR
Auditor's
recommendation NR
12. CA Sandesh Mundra
Audit Report Format – Part I
• If the accounts are required to be audited under any law viz. Companies Act or Income
Tax Act, mention yes.
• Discrepancy as to what constitute the word audit
13. CA Sandesh Mundra
Pt.
II
Reconciliation of turnover declared in audited Annual Financial
Statement with turnover declared in Annual Return (GSTR9)
5 Reconciliation of Gross Turnover
ATurnover (including exports) for State / UT (Separate for multiple GSTN) as per FS
GTurnover from April 2017 to June 2017 (-)
LTurnover for the period under composition scheme* (-)
MAdjustments in turnover under section 15 and rules thereunder (+/-)
NAdjustments in turnover due to foreign exchange fluctuations (+/-)
OAdjustments in turnover due to reasons not listed above (+/-)
KAdjustments on account of supply of goods by SEZ units to DTA Units (-)
DDeemed Supply under Schedule I (+)
FTrade Discounts accounted for in the audited Annual Financial Statement
but are not permissible under GST*
(+)
14. CA Sandesh Mundra
CUnadjusted advances at the end of the Financial Year* (+)
IUnadjusted Advances at the beginning of the Financial Year* (-)
ECredit Notes issued after end of the financial year but reflected in annual return* (+)
JCredit notes accounted for in the audited Annual Financial Statement but are not
permissible under GST
(-)
Addition for reasons not listed above
PAnnual turnover after adjustments as above
QTurnover as declared in Annual Return (GSTR9)
RUn-Reconciled turnover (Q - P)
• Careful examination of status of taxes paid on advance received for supply of goods with cut off
dates
• Advances received in 17-18 and invoice issued in 18-19 to be reported
• Credit notes allowed u/s 34 not to be added but commercial credit notes are required to be
added here
15. CA Sandesh Mundra
Special notes for above table
• Whether turnover as per Financial Statements to include income other than Revenue
from operations? - Logical view
• Discounts not permissible under GST to be added and Discounts shown in face of invoice
are not to be added
• Due to turnover limit, if assessee shifted to normal from composition, turnover of
composition period to be reduced from above table.
• Whether deemed supplies not forming part of annual return required to be included in
reconciliation statement? One view to show them in Part-B instead.
16. CA Sandesh Mundra
• Multiple presence – GSTN wise books of accounts are required – GSTN wise books of accounts may
not be audited individually – Problem to intensify if GST auditor is not preparing reconciliation
• How to identify related party transactions? – Inter-branch adjustments/cost center
accounting/extracting data from GSTR 1.
• How to identify employer-employee transactions? – Through appointment letter
Special notes for above table
17. CA Sandesh Mundra
6 Reasons for Un - Reconciled difference in Annual Gross Turnover
A Reason 1
7 Reconciliation of Taxable Turnover
AAnnual turnover after adjustments (from 5P above)
BValue of Exempted, Nil Rated, Non-GST supplies, No-Supply turnover
CZero rated supplies without payment of tax
DSupplies on which tax is to be paid by the recipient on reverse charge basis
ETaxable turnover as per adjustments above (A-B-C-D)
FTaxable turnover as per liability declared in Annual Return (GSTR9)
GUnreconciled taxable turnover (F-E)
8 Reasons for Un - Reconciled difference in taxable turnover
A Reason 1
• Reasons for Unreconciled Turnover:-
• Invoices/Debit notes not declared in GSTR 1 & 3B both
• Credit notes not declared in GSTR 1 and 3B both
• Invoices cancelled in books after issue but credit note not issued in time
• Taxable turnover to be extracted from column 4N of GSTR 9
18. CA Sandesh Mundra
Pt.
III
Reconciliation of tax paid
9 Reconciliation of rate wise liability and amount payable thereon
Tax payable
Description Taxable Value Central tax State tax
/ UT tax
Integrated
Tax
Cess, if
applicabl e
1 2 3 4 5 6
A 5% and RC
C 12% and RC
E 18% and RC - -
G 28% and RC
L Interest/Late Fee/Penalty
PTotal amount to be paid as per tables above 0 0 - 0
QTotal amount paid as declared in Annual Return (GSTR 9)
R Un-reconciled payment of Amount and reasons thereof -
• If data for separate rates not available in books then, auditor may not fill data in above table and
disclose this or auditor may fill data as per client and give appropriate disclosures
• Filling of above information for deemed supplies and Section 15 additions when they do not
become part of turnover but part of tax register. Value can be derived by reverse working.
19. CA Sandesh Mundra
11 Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above)
To be paid through Cash
Description
Taxable
Value
Central tax State tax
/ UT tax
Integrated tax Cess, if applicabl
e
5%
12%
18% -
28%
3%
0.25%
0.10%
Interest
Late Fee
Penalty
Others
(please specify)
• If sufficient credit available the, file DRC 03 and pay interest in cash
20. CA Sandesh Mundra
Pt. IV Reconciliation of Input Tax Credit (ITC)
12 Reconciliation of Net Input Tax Credit (ITC)
A
ITC availed as per audited Annual Financial Statement for the State/ UT (For multi-GSTIN units under same
PAN this should be derived from books of accounts)
BITC booked in earlier Financial Years claimed in current Financial Year (+)
CITC booked in current Financial Year to be claimed in subsequent Financial Years (-)
DITC availed as per audited financial statements or books of account
EITC claimed in Annual Return (GSTR9)
FUn-reconciled ITC
13 Reasons for un-reconciled difference in ITC
A Reason 1 <<Text>>
• ITC booked in earlier year to include transitional credit booked in earlier years but availed during FY 17-18.
• In first year of GST, column B may not have any adjustments other than transitional credit.
21. CA Sandesh Mundra
14 Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of
account
Description Value Amount of
Total ITC
Amount of eligible ITC
availed
APurchases
BFreight / Carriage
CPower and Fuel
DImported goods (Including received from SEZs)
ERent and Insurance
F
Goods lost, stolen, destroyed, written off or disposed of by way of gift or free
samples
GRoyalties
HEmployees' Cost (Salaries, wages, Bonus etc.)
IConveyance charges
JBank Charges
KEntertainment charges
LStationery Expenses (including postage etc.)
MRepair and Maintenance
NOther Miscellaneous expenses
OCapital goods
PAny other expense 1
QAny other expense 2
R Total amount of eligible ITC availed
S ITC claimed in Annual Return (GSTR9)
T Un-reconciled ITC
15 Reasons for un - reconciled difference in ITC
A Reason 1 <<Text>>
22. CA Sandesh Mundra
Special notes for Table 14
• Table requires expense wise reporting of total and eligible ITC. Eligible ITC = Total ITC – Blocked –
Reversed
• Expense wise reversals to be calculated by applying reversal ratios
• Govt. wants to develop statistics of expenses incurred and ITC involved relevant for subsequent
assessment procedure
• This information may also help in reopening of income tax assessments
23. CA Sandesh Mundra
16
Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and
15 above)
Description Amount Payable
Central Tax
State/UT
Tax
Integrated
Tax
Cess
Interest
Penalty
24. CA Sandesh Mundra
Pt. V Auditor's recommendation on additional Liability due to non-reconciliation
To be paid through Cash
Description Value
Central
tax
State tax
/ UT tax
Integrated tax Cess, if
applicable
1 2 3 4 5 6
5%
12%
18%
28%
3%
0.25%
0.10%
Input Tax
Credit
Interest
Late Fee
Penalty
Any other amount paid for supplies not
included in Annual Return
Erroneous refund to be paid back
Outstanding demands to be settled
Other (Pl. specify)
25. CA Sandesh Mundra
Special caution points
• In Part A of the audit report, auditor is supposed to certify figures. In Part B of the audit report,
auditor has to give qualification on figures. Improper drafting.
• What if ITC on capital goods is expensed out in P/L Account?
• Separation of figures for each and every GSTN from financial statements.
• Sale of fixed asset is taxable turnover under GST however it is not sales in Financial Statements.
26. CA Sandesh Mundra
• In financial statements of Agents, supply on behalf of principal needs to be added.
• Off balance sheet and non balance sheet items to be analysed for supplies without consideration.
• Track of financial credit notes.
• Claim depreciation vs credit on capital assets.
Special caution points
27. CA Sandesh Mundra
• Lease – FS – Interest and leasing charges. In GST – full amount is taxable.
• Treatment of Govt. grants.
• Related party disclosures.
• IND AS 115 – Element wise accounting VS Time of supply – No correlation
• Liability of auditor on future litigations
Special caution points