Seprate Financial statement

This query is : Resolved

Quick Summary

If your business operates across multiple branches in India, each with its own GST registration, you'll likely need to maintain separate financial records for each GSTIN. This is crucial for accurate GST filing, including GSTR-1 for sales and GSTR-3B for input tax credit reconciliation. Even for annual returns like GSTR-9 and GSTR-9C, data needs to be available at the individual GSTIN level, regardless of consolidated head office accounts.

Rajkumar Gutti

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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

24 September 2025 Good Luck...

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