Seprate Financial statement
This query is : Resolved
04 August 2025
We have multiple branches in all over india. Our Head office is in Gujrat. We prepared one consolidated Balance sheet, profit and loss account
Under GST law each branch balance sheet, profit and loss account is required?
Under GST law each branch balance sheet, profit and loss account is required?
04 August 2025
If each branch has a separate GST registration, then for GST compliance purposes, you will need to maintain separate records for each GSTIN. This effectively means you'll need to be able to generate branch-wise data for:
Outward Supplies (Sales): To file GSTR-1 for each GSTIN.
Inward Supplies (Purchases) and Input Tax Credit (ITC): To reconcile and claim ITC for each GSTIN, which is reflected in GSTR-3B.
Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C): If your aggregate turnover (PAN-India) exceeds the threshold, you'll need to file GSTR-9 for each GSTIN separately. GSTR-9C, which requires reconciliation with audited financial statements, would also be applicable for each separate GSTIN if its turnover meets the threshold. While the ultimate reconciliation for GSTR-9C is often done at a PAN-India level with the consolidated financial statements, the underlying data must be available at the GSTIN level.
Outward Supplies (Sales): To file GSTR-1 for each GSTIN.
Inward Supplies (Purchases) and Input Tax Credit (ITC): To reconcile and claim ITC for each GSTIN, which is reflected in GSTR-3B.
Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C): If your aggregate turnover (PAN-India) exceeds the threshold, you'll need to file GSTR-9 for each GSTIN separately. GSTR-9C, which requires reconciliation with audited financial statements, would also be applicable for each separate GSTIN if its turnover meets the threshold. While the ultimate reconciliation for GSTR-9C is often done at a PAN-India level with the consolidated financial statements, the underlying data must be available at the GSTIN level.
24 September 2025
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