Arjuna (Fictional Character): What details are to be given in GSTR-9C?
Krishna (Fictional Character): Arjuna, GSTR-9C can be divided in two parts namely Part A and Part B. In Part A reconciliation of outward supplies and ITC as per audited Annual Financial Statement with details of Annual Return is to be given. Part B deals with certification of GST Audit Report.
Arjuna: Krishna,how are details of outward supplies to be reported in GSTR-9C?
Krishna: Arjuna, The details of outward supplies is to be provided in from Table 5 to Table 11. In Table 5 & 7 details of outward supplies is to be given. Rate-wise details of tax liability is to be given in Table 9 and additional amount payable is to be shown in Table 11. Table 6, 8 and 10 deals with providing reasons for unreconciled supplies and taxes.
Arjuna: Krishna, What are the details to be provided in Table 5 and Table 7?
Krishna: Arjuna,in Table 5, reconciliation of gross turnover is to be given. The details to be given are as follows:
Arjuna: Krishna, What lesson the taxpayer should take from this?
Krishna: Arjuna,This shall be the first audit report since the implementation of GST. So, the taxpayer as well as the auditors should correctly report the transactions. The Auditor has crucial role to play being the first GST Audit.