REPORTING IN GSTR-9 AND 9C

Hey Vinodh! Here’s how you should handle reporting exempt supplies and turnover in GSTR-9 and GSTR-9C for FY 2022-23:

Reporting Exempt Supplies & Turnover in GSTR-9:

1. Turnover Declared in GSTR-3B
   The turnover figures you declared in monthly GSTR-3B (including exempt supplies) form the basis for your annual return.

2. Exempt Supplies Reporting

   • In Table 6A (Part II) of GSTR-9, you report the turnover of exempt supplies on a self-declaration basis.

   • Enter the aggregate value of exempt supplies (including exports and non-GST supplies) as reported in your monthly returns.

3. Total Turnover

   • In Table 5, mention the total turnover (including taxable, exempt, and zero-rated supplies) as per GSTR-3B.

4. Reconciliation

   • Ensure that the turnover figures in GSTR-9 reconcile with your audited financial statements and GSTR-3B data.

Reporting in GSTR-9C (Reconciliation Statement):

• Turnover as per Financials vs. GST Records
  In GSTR-9C, you need to reconcile your turnover from audited financials with turnover declared in GST returns (GSTR-3B).

• For exempt supplies:

  • The turnover of exempt supplies should also be matched with financials.

  • Any differences should be explained under the reconciliation notes.

• GSTR-9C requires certification by a Chartered Accountant or Cost Accountant, confirming that the data is true and correct.

Key Tips:

• Since you trade in exempt products, ensure you correctly classify the supplies as exempt under the respective GST schedules.

• Maintain clear records to support the turnover figures in case of scrutiny.

• Late filing or incorrect reporting can attract penalties, so verify all data carefully.