TMI BlogReconciliation StatementX X X X Extracts X X X X X X X X Extracts X X X X ..... same PAN the turnover shall be derived from the audited Annual Financial Statement) B Unbilled revenue at the beginning of Financial Year (+) C Unadjusted advances at the end of the Financial Year (+) D Deemed Supply under Schedule I (+) E Credit Notes issued after the end of the financial year but reflected in the annual return (-) F Trade Discounts accounted for in the audited Annual Financial Statement but are not permissible under GST (+) G Turnover from April 2017 to June 2017 (-) H Unbilled revenue at the end of Financial Year (-) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Return (GSTR9) G Unreconciled taxable turnover (F-E) AT 2 8 Reasons for Un - Reconciled difference in taxable turnover A B C Reason 1 Text Reason 2 Text Reason 3 Text Pt. III Reconciliation of tax paid 9 Reconciliation of rate wise liability and amount payable thereon Tax payable Description Taxable Value Central tax State tax / UT tax Integrated Tax Cess, if applicable 1 2 3 4 5 6 A 5% B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10 Reasons for un-reconciled payment of amount A Reason 1 B Reason 2 C Reason 3 11 Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above) To be paid through Cash Description Taxable Value Central tax State tax / UT tax Integrated tax Cess, if applicable 1 2 3 4 5 6 5% 28 [ 6% ] 12% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B Reason 2 C Reason 3 14 Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of account Description Value Amount of Total ITC Amount of eligible ITC availed 1 2 3 4 A Purchases B Freight / Carriage C Power and Fuel D Imported goods (Including received from SEZs) E Rent and Insurance F Goods lost, st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Integrated Tax Cess Interest Penalty Pt. V 18 [Additional Liability due to non[1]reconciliation] To be paid through Cash Description Value Central tax State tax / UT tax Integrated tax Cess, if applicable 1 2 3 4 5 6 5% 29 [ 6% ] 12% 18% 28% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018 are to be provided in this statement for the financial year 2017-18. The reconciliation statement is to be filed for every GSTIN separately. 3. The reference to current financial year in this statement is the financial year for which the reconciliation statement is being filed for. 4. Part II consists of reconciliation of the annual turnover declared in the audited Annual Financial Statement with the turnover as declared in the Annual Return furnished in FORM GSTR-9 for this GSTIN. The instructions to fill this part are as follows :- Table No. Instructions 5A The turnover as per the audited Annual Financial Statement shall be declared here. There may be cases where multiple GSTINs (State-wise) registrations exist on the same PAN. This is common for persons / entities with presence over multiple States. Such persons / entities, will have to internally derive their GSTIN wise turnover and declare the same here. This shall include export turnover (if any). It may be noted that reference to audited Annual Financial Statement includes reference to books of accounts in case of persons / entities having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to be reported then the same may be reported in Table 5O. ] 5F Trade discounts which are accounted for in the audited Annual Financial Statement but on which GST was leviable (being not permissible) shall be declared here. 7 [ For 14 [ FY 2017-18, 21 [ 2018-19, 25 [ 2019-20, 2020-21 and 2021-22 ] ]] , the registered person shall have an option to not fill this table. If there are any adjustments required to be reported then the same may be reported in Table 5O. ] 5G Turnover included in the audited Annual Financial Statement for April 2017 to June 2017 shall be declared here. 8 [ For FY 2017-18, the registered person shall have an option to not fill this table. If there are any adjustments required to be reported then the same may be reported in Table 5O. ] 5H Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting during the current financial year but GST was not payable on such revenue in the same financial year shall be declared here. 9 [ For 14 [ FY 2017-18, 21 [ 2018-19, 25 [ 2019-20, 2020-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and rules thereunder. Therefore, any difference between the turnover reported in the Annual Return (GSTR 9) and turnover reported in the audited Annual Financial Statement due to difference in valuation of supplies shall be declared here. 9 [ For 14 [ FY 2017-18, 21 [ 2018-19, 25 [ 2019-20, 2020-21 and 2021-22 ] ]] , the registered person shall have an option to not fill this table. If there are any adjustments required to be reported then the same may be reported in Table 5O. ] 5N Any difference between the turnover reported in the Annual Return (GSTR9) and turnover reported in the audited Annual Financial Statement due to foreign exchange fluctuations shall be declared here. 9 [ For 14 [ FY 2017-18, 21 [ 2018-19, 25 [ 2019-20, 2020-21 and 2021-22 ] ]] , the registered person shall have an option to not fill this table. If there are any adjustments required to be reported then the same may be reported in Table 5O. ] 5O Any difference between the turnover reported in the Annual Return (GSTR9) and turnover reported in the audited Annual Financial Statement due to reasons not listed above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 The table provides for reconciliation of tax paid as per reconciliation statement and amount of tax paid as declared in Annual Return (GSTR 9). Under the head labelled ―RC‖, supplies where tax was paid on reverse charge basis by the recipient (i.e. the person for whom reconciliation statement has been prepared) shall be declared. 9P The total amount to be paid as per liability declared in Table 9A to 9O is auto populated here. 9Q The amount payable as declared in Table 9 of the Annual Return (GSTR9) shall be declared here. It should also contain any differential tax paid on Table 10 or 11 of the Annual Return (GSTR9). 10 Reasons for non-reconciliation between payable / liability declared in Table 9P above and the amount payable in Table 9Q shall be specified here. 11 Any amount which is payable due to reasons specified under Table 6, 8 and 10 above shall be declared here. 6. Part IV consists of reconciliation of Input Tax Credit (ITC). The instructions to fill Part IV are as un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The various sub-heads specified under this table are general expenses in the audited Annual Financial Statement or books of account on which ITC may or may not be available. Further, this is only an indicative list of heads under which expenses are generally booked. Taxpayers may add or delete any of these heads but all heads of expenses on which GST has been paid / was payable are to be declared here. 12 [ For 15 [ FY 2017-18, 22 [ 2018-19, 26 [ 2019-20, 31 [ 2020-21, 2021-22 and 2022-23 ]]]] , the registered person shall have an option to not fill this Table. ] 14R Total ITC declared in Table 14A to 14Q above shall be auto populated here. 14S Net ITC availed as declared in the Annual Return (GSTR9) shall be declared here. Table 7J of the Annual Return (GSTR9) may be used for filing this Table. 15 Reasons for non-reconciliation between ITC availed on the various expenses declared in Table 14R and ITC declared in Table 14S shall be specified here. 16 Any amount which is payable due to reasons specified in Table 13 and 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D Deemed Supply under Schedule I (+) E Credit Notes issued after the end of the financial year but reflected in the annual return (+) F Trade Discounts accounted for in the audited Annual Financial Statement but are not permissible under GST (+) G Turnover from April 2017 to June 2017 (-) H Unbilled revenue at the end of Financial Year (-) I Unadjusted Advances at the beginning of the Financial Year (-) J Credit notes accounted for in the audited Annual Financial Statement but are not permissible under GST (-) K Adjustments on account of supply of goods by SEZ units to DTA Units (-) L Turnover for the period under composition scheme (-) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax payable Description Taxable Value Central tax State tax / UT tax Integrated Tax Cess, if applicabl e 1 2 3 4 5 6 A B 5% 5% (RC) C D E F G H 12% 12% (RC) 18% 18% (RC) 28% 28% (RC) I J K L M N 3% 0.25% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Others (please specify) Pt. Reconciliation of Input Tax Credit (ITC) IV 12 Reconciliation of Net Input Tax Credit (ITC) A ITC availed as per audited Annual Financial Statement for the State/ UT (For multi-GSTIN units under same PAN this should be derived from books of accounts) B ITC booked in earlier Financial Years claimed in current Financial Year (+) C ITC booked in current Financial Year to be claimed in subsequent Financial Years (-) D ITC availed as per audited financial statements or books of account Auto E ITC claimed in Annual Return (GSTR9) F Un-reconciled ITC ITC 1 13 Reasons for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 Reasons for un - reconciled difference in ITC A Reason 1 Text B C Reason 2 Text Reason 3 Text 16 Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above) Description Amount Payable Central Tax State/UT Tax Integrated Tax Cess Interest Penalty Pt. V Auditor's recommendation on additional Liability due to non-reconciliation To be paid through Cash Description Value Central tax State tax / UT tax Integrated tax Cess, if applicabl e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Financial Statement with the turnover as declared in the Annual Return furnished in FORM GSTR-9 for this GSTIN. The instructions to fill this part are as follows :- Table No. Instructions 5A The turnover as per the audited Annual Financial Statement shall be declared here. There may be cases where multiple GSTINs (State-wise) registrations exist on the same PAN. This is common for persons / entities with presence over multiple States. Such persons / entities, will have to internally derive their GSTIN wise turnover and declare the same here. This shall include export turnover (if any). It may be noted that reference to audited Annual Financial Statement includes reference to books of accounts in case of persons / entities having presence over multiple States. 5B Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting in the last financial year and was carried forward to the current financial year shall be declared here. In other words, when GST is payable during the financial year on such revenue (which was recognized earli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... composition scheme during the current financial year. Their turnover as per the audited Annual Financial Statement would include turnover both as composition taxpayer as well as normal taxpayer. Therefore, the turnover for which GST was paid under the composition scheme shall be declared here. 5M There may be cases where the taxable value and the invoice value differ due to valuation principles under section 15 of the CGST Act, 2017 and rules thereunder. Therefore, any difference between the turnover reported in the Annual Return (GSTR 9) and turnover reported in the audited Annual Financial Statement due to difference in valuation of supplies shall be declared here. 5N Any difference between the turnover reported in the Annual Return (GSTR9) and turnover reported in the audited Annual Financial Statement due to foreign exchange fluctuations shall be declared here. 5O Any difference between the turnover reported in the Annual Return (GSTR9) and turnover reported in the audited Annual Financial Statement due to reasons not listed above shall be declared here. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provides for reconciliation of tax paid as per reconciliation statement and amount of tax paid as declared in Annual Return (GSTR 9). Under the head labelled ―RC‖, supplies where tax was paid on reverse charge basis by the recipient (i.e. the person for whom reconciliation statement has been prepared ) shall be declared. 9P The total amount to be paid as per liability declared in Table 9A to 9O is auto populated here. 9Q The amount payable as declared in Table 9 of the Annual Return (GSTR9) shall be declared here. It should also contain any differential tax paid on Table 10 or 11 of the Annual Return (GSTR9). 10 Reasons for non-reconciliation between payable / liability declared in Table 9P above and the amount payable in Table 9Q shall be specified here. 11 Any amount which is payable due to reasons specified under Table 6, 8 and 10 above shall be declared here. 6. Part IV consists of reconciliation of Input Tax Credit (ITC). The instructions to fill Part IV are as under:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ads but all heads of expenses on which GST has been paid / was payable are to be declared here. 14R Total ITC declared in Table 14A to 14Q above shall be auto populated here. 14S Net ITC availed as declared in the Annual Return (GSTR9) shall be declared here. Table 7J of the Annual Return (GSTR9) may be used for filing this Table. 15 Reasons for non-reconciliation between ITC availed on the various expenses declared in Table 14R and ITC declared in Table 14S shall be specified here. 16 Any amount which is payable due to reasons specified in Table 13 and 15 above shall be declared here. 7. Part V consists of the auditor s recommendation on the additional liability to be discharged by the taxpayer due to non-reconciliation of turnover or non-reconciliation of input tax credit. The auditor shall also recommend if there is any other amount to be paid for supplies not included in the Annual Return. Any refund which has been erroneously taken and shall be paid back to the Government shall also be declared in this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Form No. GSTR-9C. 5. In *my/our opinion and to the best of *my/our information and according to explanations given to *me/us, the particulars given in the said Form No.GSTR-9C are true and correct subject to following observations/qualifications, if any: (a) (b) (c) **(Signature and stamp/Seal of the Auditor) Place: Name of the signatory Membership No Date: Full address 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: *I/we report that the audit of the books of accounts and the financial statements of M/s. ........... . (Name and address of the assessee with GSTIN) was conducted by M/s. .. . (full name and address of auditor along with status), bearing membership number in pursuance of the provisions of the .Act, and *I/we annex hereto a copy of their audit report dated . along with a copy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019 12. Inserted vide Notification No. 56/2019 Central Tax dated 14-11-2019 13. Substituted vide Notification No. 56/2019 Central Tax dated 14-11-2019 before it was read as PART B- CERTIFICATION I. Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit: * I/we have examined the- (a) balance sheet as on (b) the *profit and loss account/income and expenditure account for the period beginning from .. to ending on ., and (c) the cash flow statement for the period beginning from .. to ending on , -attached herewith, of M/s (Name), . (Address), .. (GSTIN). 2. Based on our audit I/we report that the said registered person- *has maintained the books of accounts, records and documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder *has not maintained the following accounts/records/documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder: 1. 2. 3. 3. (a) *I/we report the following observations/ comments / discrepancie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account for the period beginning from .. to ending on ., (c) the cash flow statement for the period beginning from .. to ending on , and (d) documents declared by the said Act to be part of, or annexed to, the *profit and loss account/income and expenditure account and balance sheet. 2. I/we report that the said registered person- *has maintained the books of accounts, records and documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder *has not maintained the following accounts/records/documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder: 1. 2. 3. 3. The documents required to be furnished under section 35 (5) of the CGST Act/SGST Act and Reconciliation Statement required to be furnished under section 44(2) of the CGST Act/SGST Act is annexed herewith in Form No.GSTR-9C. 4. In *my/our opinion and to the best of *my/our information and according to examination of books of account including other relevant documents and explanations given to *me/us, the particulars given in the said Form No.9C are true and correct subject to the following o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the auditor s recommendation on the additional liability to be discharged by the taxpayer due to non-reconciliation of turnover or non-reconciliation of input tax credit. The auditor shall also recommend if there is any other amount to be paid for supplies not included in the Annual Return. Any refund which has been erroneously taken and shall be paid back to the Government shall also be declared in this table. Lastly, any other outstanding demands which is recommended to be settled by the auditor shall be declared in this Table. 24. Omitted vide NOTIFICATION No. 30/2021 Central Tax dated 30-07-2021 w.e.f. 01-08-2021 before it was read as 13 [PART B- CERTIFICATION I. Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit: * I/we have examined the- (a) balance sheet as on (b) the *profit and loss account/income and expenditure account for the period beginning from .. to ending on ., and (c) the cash flow statement (if available) for the period beginning from .. to ending on , -attached herewith, of M/s (Name), . (Address), .. (GSTIN). 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f accounts and the financial statements of M/s. ........... . (Name and address of the assessee with GSTIN) was conducted by M/s. .. . (full name and address of auditor along with status), bearing membership number in pursuance of the provisions of the .Act, and *I/we annex hereto a copy of their audit report dated . along with a copy of each of :- (a) balance sheet as on (b) the *profit and loss account/income and expenditure account for the period beginning from .. to ending on ., (c) the cash flow statement (if available) for the period beginning from .. to ending on , and (d) documents declared by the said Act to be part of, or annexed to, the *profit and loss account/income and expenditure account and balance sheet. 2. I/we report that the said registered person- *has maintained the books of accounts, records and documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder *has not maintained the following accounts/records/documents as required by the IGST/CGST/ GST Act, 2017 and the rules/notifications made/issued thereunder: 1. 2. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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