GST Annual Return and GST Reconciliation Statement Filing

About the Course

Goods and Services Tax Act, 2017 was introduced on 1st July 2017 and since then there has been several changes to the law. GST law requires filing of Annual Return (GSTR 9) and Reconciliation Statement (Form GSTR 9C) by Normal taxpayers whose aggregate turnover crosses prescribed limit. Recently the threshold has been revised. The Annual Return and GST Reconciliation Statement is to be furnished for each financial year. The Form has several tables and requires detailed analysis of transactions which is to be reported in a prescribed format.

It also requires certification by Chartered Accountant or Cost Accountant holding COP.

The Course aims to provide a practical and in-depth discussion on how to prepare Annual Return and Reconciliation Statement on GST Portal and also provides a case study for several key transactions and situations to be handled while preparing the forms

The Course aims at providing

• Brief introduction to the legal provisions around Annual Return and Reconciliation Statement
• Documentary and information requirement for preparation of Annual Return and Reconciliation Statement
• Introduction to the offline and online tools for preparation of Annual Return and Reconciliation Statement
• Detailed analysis of all tables along with linkage of information flow of GSTR 1 and GSTR 3B while preparing Annual Return and Reconciliation Statement

Key Highlights of the Course

• Comprehensive Clause by clause analysis taking sample data for preparation of Annual Return and Reconciliation Statement
• In-depth analysis of use of Offline Templates
• Practical guide on filing Annual Return and Reconciliation Statement on GSTN Portal
• Precautions and measures to be taken while filing Annual Return and Reconciliation Statement
• Aims at providing a template for preparation and filing of Annual Return and Reconciliation Statement

Course Curriculum

Guide to file GST Annual Return (Form GSTR 9) and Reconciliation Statement (Form GSTR 9C)

Annual Return – GSTR 9

Introduction to GST Annual Return

Legal Framework for GSTR 9

• 2.1. Legal provisions for Annual Return – CGST Act, 2017 and Rules thereof
• 2.2. Discussion on Aggregate Turnover

Overview of Annual Return

• 3.1. Part 1 – Basic Information
• 3.2. Part 2 - Details of Outward Supplies – FCM & RCM
• 3.3. Part 3 - Details of Input Tax Credit
• 3.4. Part 4 - Details of tax Paid as per Returns
• 3.5. Part 5 - Transactions of Previous FY recorded in Current FY
• 3.6. Part 6 - Demands & Refunds, Inward Supplies from Composition, Deemed supply and Sale or approval, HSN Summary – Outward & Inward and Late Fees
• 3.7. Path to open Annual Return on GST Portal
• 3.8. Navigation and Important aspects
• 3.9. Steps for preparing the form online
• 3.10. Overview of the form on Portal
• 3.11. Introduction to various tables

Table-wise Analysis of GSTR 9

• 4.1. Table 1-3 – Basic Details – GSTN Number, Name and Financial year
• 4.2. Table 4 and 5 – Details of Advances, Outward Supplies, Inward Supplies
• 4.3. Table 6, 7 and 8 – Input Tax Credit related information
• 4.4. Table 9 – Details of tax paid
• 4.5. Table 10 – 13 – Details of transaction for Previous FY reported in subsequent FY
• 4.6. Table 14 – Payment of differential tax
• 4.7. Table 15 – Details of refunds and demands
• 4.8. Table 16 – Details of deemed supply, goods sent on approval, etc
• 4.9. Table 17 and 18 – HSN summary details – Outward supplies and inward supplies
• 4.10. Table 19 – Late fees payable and paid
• 4.11. Generating draft return and filing of Annual Return

Reconciliation Statement - Form GSTR 9C (GST Audit Report)

Legal Framework for filing Reconciliation statement

• 1.1. Legal provisions for Annual Return – CGST Act, 2017 and Rules thereof
• 1.2. Discussion on Aggregate Turnover
• 1.3. Steps for filing GST Reconciliation Statement

Documentary/ Data Requirements

• 2.1. Details to be collated before preparing for compilation of GST Reconciliation Statement – Form GSTR 9C
• 2.2. System Generated Summary based on Annual Return – GSTR 9C Extract

Detailed discussion on preparing and furnishing of Auditor’s Certificate – Part B

• 3.1. Part B (i) - Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit
• 3.2. Part B (ii) -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

Guidelines for filing of GST Reconciliation Statement

• 4.1. GST Offline Template for Form GSTR 9C– Steps to Download
• 4.2. Introduction to GST Offline Template for Form GSTR 9C

Structure of Form GSTR 9C

• 5.1. Part A –
• 5.1.1. Section I - Basic Details
• 5.1.2. Section II - Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
• 5.1.3. Reconciliation of tax paid
• 5.1.4. Reconciliation of Input Tax Credit (ITC)
• 5.1.5. Auditor's recommendation on additional Liability due to non-reconciliation
• 5.1.6. Part B - Auditor’s Certificate

Clause by clause analysis

• 6.1. Reconciliation of Gross Turnover - Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
• 6.2. Discussion on Supply as per Schedule I of the CGST Act, 2017
• 6.3. Reasons for Un - Reconciled difference in Annual Gross Turnover
• 6.4. Reconciliation of Taxable Turnover
• 6.5. Reasons for Un - Reconciled difference in Taxable Turnover
• 6.6. Reconciliation of Tax Paid - Individual Rate wise tax liability as per Audited Financial Statement as reconciled with tax liability declared as paid in Annual Return
• 6.7. Reasons for Un – Reconciled payment of amount
• 6.8. Additional amount payable but not paid
• 6.9. Reconciliation of Input Tax Credit (ITC)
• 6.10. Reasons for Un – Reconciled difference in ITC
• 6.11. Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of account
• 6.12. Tax payable on un-reconciled difference in ITC
• 6.13. Auditors’ Recommendation due to non-reconciliation
• 6.14. Part B – Auditor’s Certificate
• 6.15. Creation of JSON File
• 6.16. Few Common Errors/ Tips for Creation of JSON File
• 6.17. Steps for filing of Audit Report on GST Portal

About the Training Instructor:

CA Rohit Kumar Singh is founder of TaxMarvel Consulting Services LLP, a niche consulting firm which provides GST, Corporate Laws, Income Tax and outsourcing services to Corporates and MSME.

Rohit is a Chartered Accountant, Company Secretary, Cost Accountant and Gold Medallist Law Graduate. He has also passed Diploma in Information Systems Audit (ICAI) and Associate of Insurance Institute of India (AIII)

He has headed of GST Business (GST Suvidha Provider) of Karvy Data Management Services Limited (KDMSL). KDMSL was ranked as one of the Top 5 GSPs in India. He was credited to have set up the GST Compliance and advisory services at Karvy for several niche Corporates and Public Sector Undertakings (PSU’s).

Earlier, Rohit was Manager at Price WaterHouse Coopers Private Limited (PwC), Hyderabad, and has headed Commercial Functions (Indirect Taxes, Insurance and Internal Audit) function of Transmission and Distribution Division of Gammon India Limited.

Rohit is regular presenter and speaker at various national seminars for GST/Indirect Taxes. He is an empanelled faculty for GST at ICAI and ICMAI. He has taken more than 75 national seminars on GST and regularly conducts online GST Sessions for professionals and Senior Management. He represents clients for Advance Rulings and Departmental appeals.

He is a regular blogger and contributes to articles on GST and Indirect taxes in various online forums such as caclubindia.com, taxguru and other online platforms.

Terms and Conditions:

• Total Length of Videos: 3 Hrs
• Expiry: 2 months 9 hours of viewing whichever is earlier from the date of registration.
• Videos are meant for web viewing only and cannot be downloaded. Videos are available in Full Screen viewing
• Course/Subject purchased once cannot be cancelled.