Seprate Financial statement

This query is : Resolved

Rajkumar Gutti (Querist)
Follow

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?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now