GSTR 9C form filing with easy-to-understand notes

SI No

Action

Description

5A

Turnover(including Exports) as per Financial Statements (here after referred as 'FS')

• Where multiple GSTIN exist on same PAN, GSTIN wise FS are required

5B

+

Unbilled revenue at the beginning of the FY

• Means revenue recognized in FS of earlier year, but GST is paid in current year.

5C

+

Unadjusted advances at the end of the Financial Year

• Advance received for supply of goods before 15.11.17 & for supply of services till 31.3.18 shall be taken, if the supply is not completed as on 31.3.18.
• Don't include for reconciliation;

1. Advance received for supply of exempt goods or services
2. Advance received for supply of goods on or after 15.11.17

• Cross verify GSTR-1(including amendments in next year) with books of accounts

5D

+

Deemed Supply under Schedule I

• Fixed assets sold/taken by proprietor/Partner where ITC was availed. Higher of tax on transaction value or unexpired ITC(Asset life: 5 years) shall be paid
• Gift value>50,000 in a FY given to employee is considered as supply
• Transactions between principal & agent
• Import of service from a related person/establishment outside India

5E

-

Credit Notes issued after the end of the financial year but reflected in the annual return

• May occur due to some error, mostly will be Nil.

5F

+

Trade Discounts accounted for in the audited FS, but are not permissible under GST

• If the sales are shown net of discount in the FS, the discounts not allowed u/s.15(3) shall be declared here

Eg: Special discount, rebate, bonus discount.etc which are not established in terms of an agreement before the supply and not specifically linked to invoices.

5G

-

Turnover from April 2017 to June 2017

5H

-

Unbilled revenue at the end of Financial Year

5I

-

Unadjusted Advances at the beginning of the Financial Year

• Relevant only from next year onwards

5J

+

Credit notes accounted for in the audited FS but are not permissible under GST

• Similar to 5F

5K

-

Adjustments on account of supply of goods by SEZ units to DTA Units

• Will be reflected in FS of SEZ unit as sales, but not considered as supply under GST(IGST levied on Bill of Entry and not reported in GSTR-1)

5L

-

Turnover for the period under composition scheme

• See GSTR-4 & GSTR-9A

5M

+/-

Adjustments in turnover under section 15 and rules there under

• Any tax other than GST/Compensation Cess collected in the invoices

Eg: Entertainment Tax

• Alternate rates of tax

Eg: In case of Air travel agent, value is deemed as 5% or 18% of ticket price, but actual commission may be different.

5N

+/-

Adjustments in turnover due to foreign exchange fluctuations

• If the forex rate used in books and GST Returns are different, the effect of the same may be disclosed here. Forex gains/losses shown as a separate line item in the P&L shall not be considered here, because the reconciliation is done with Turnover as per P&L

5O

+/-

Adjustments in turnover due to reasons not listed above

• Eg: Turnover for period in which there was no registration

Incentive received from supplier and considered as supply under GST

Sum 5A :5O

Annual turnover after adjustments as above

• This turnover ideally should match with GSTR-9.If there's any difference, the same should be reconciled and the reasons shall be mentioned in SI No-6

5Q

Turnover in GSTR-9

• May be derived from SI No-5N,10 & 11 of GSTR-9

5R

5Q-5P

Un-Reconciled Turnover

• Differences shall be shown under SI No.6(Part II) and SI No.11(Part III)

SI No

Description

7A

Annual turnover after adjustments (from 5P above)

7B

Value of Exempted, Nil Rated, Non-GST supplies, No-Supply turnover

• Shall be reported net of Dr/Cr Notes & amendments
• Can be derived from 5D,5E & 5F of GSTR-9

Also consider 5H,5I (Dr/Cr Notes) and 5J & 5K(amendments) of GSTR-9

7C

Zero rated supplies without payment of tax

• Can be derived from 5A & 5B of GSTR-9 and amendments in 5J & 5K of GSTR-9

7D

Supplies on which tax is to be paid by the recipient on reverse charge basis

7E

Taxable turnover as per adjustments above (A-B-C-D)

7F

Taxable turnover as per liability declared in Annual Return (GSTR9)

• Refer Table(4N-4G)+(10-11) in GSTR-9

7G

Un-reconciled taxable turnover (F-E)

SI No

Description

9A-9O

• Taxable turnover as per SI.No-7E shall be bifurcated according to applicable rates
• Forward & Reverse charge to be shown separately
• Interest, late fee, penalty also to be disclosed

9P

Total amount to be paid = Sum(9A:9O)

9Q

Total amount paid as declared in Annual Return (Refer Table 9 & 14 of GSTR 9)

9R

Un-reconciled payment of amount =9Q-9P

SI No

Action

Description

12A

ITC availed as per audited FS(Net of reversals)

12B

+

ITC booked in earlier FY claimed in current FY

• Since this is 1st year, this column would be ideally zero.
• Next year onwards, this column would be bearing the same amount of column 12C of Previous FY

12C

-

ITC booked in current FY to be claimed in subsequent FY

• ITC of 2017-18,claimed in GSTR-3B for 2018-19
• Value should be equal to sum of amounts reported in clause 12&13 of GSTR-9

12D

ITC availed as per audited FS =Sum(12A:12C)

12E

ITC claimed in Annual Return (Table 7J of GSTR9)

12F

Un-reconciled ITC= 12E-12D