GST Audit    

S.No.	Particulars	Sections	Rules
1	Annual Return	Section 44(1)	Rule 80 (1)
2	Persons required to get accounts audited under GST	Section 35(5) & 44(2)	Rule 80(3)

Serial No.	Particulars
1	CGST Act -GST Annual Audit
2	CGST Rules
3	Summary
4	Form GSTR 9C

Serial No.	Particulars	Section	Rule	Form	Notification No,
1	Meaning of Audit	Section 2(13)
2	Annual Return	Section 44(1)	Rule 80 (1)	GSTR 9 & GSTR 9A	Notification 39/2018-CT
3	Persons required to get accounts audited under GST	Section 35(5)	Rule 80(3)
3	GST Audit and Annual Report	Section 35(5) & 44(2)	Rule 80(3)	GSTR 9C	Notification 49/2018-CT

FORM GSTR-9C 132

See rule 80(3)

PART – A - Reconciliation Statement

Pt. I

Basic Details

1

Financial Year

2

GSTIN

3A

Legal Name

< Auto>

3B

Trade Name (if any)

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4

Are you liable to audit under any Act?                   <<Please specify>>

(Amount in ₹ in all tables)

Pt. II

Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)

5

Reconciliation of Gross Turnover

A

Turnover (including exports) as per audited financial statements for the State / UT (For multi-GSTIN units under 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

(-)

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

(-)

M

Adjustments in turnover under section 15 and rules thereunder

(+/- )

N

Adjustments in turnover due to foreign exchange fluctuations

(+/- )

O

Adjustments in turnover due to reasons not listed above

(+/- )

P

Annual turnover after adjustments as above

<Auto>

Q

Turnover as declared in Annual Return (GSTR9)

R

Un-Reconciled turnover (Q - P)

AT1

6

Reasons for Un - Reconciled difference in Annual Gross Turnover

A

Reason 1

<<Text>>

B

Reason 2

<<Text>>

C

Reason 3

<<Text>>

7

Reconciliation of Taxable Turnover

A

Annual turnover after adjustments (from 5P above)

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B

Value of Exempted, Nil Rated, Non-GST supplies, No-Supply turnover

C

Zero rated supplies without payment of tax

D

Supplies on which tax is to be paid by the recipient on reverse charge basis

E

Taxable turnover as per adjustments above (A-B-C-D)

<Auto>

F

Taxable turnover as per liability declared in Annual Return (GSTR9)

G

Unreconciled taxable turnover (F-E)

AT 2

8

Reasons for Un - Reconciled difference in taxable turnover

A

Reason 1

<<Text>>

B

Reason 2

<<Text>>

C

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

5% (RC)

C

12%

D

12% (RC)

E

18%

F

18% (RC)

G

28%

H

28% (RC)

I

3%

J

0.25%

K

0.10%

L

Interest

M

Late Fee

N

Penalty

O

Others

P

Total amount to be paid as per tables above

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Q

Total amount paid as declared in Annual Return (GSTR 9)

R

Un-reconciled payment of amount

PT 1

10

Reasons for un-reconciled payment of amount

A

Reason 1

<<Text>>

B

Reason 2

<<Text>>

C

Reason 3

<<Text>>

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

Integrated tax

Cess, if applicable

1

2

3

4

5

6

5%

12%

18%

28%

3%

0.25%

0.10%

Interest

Late Fee

Penalty

Others (please specify)

Pt. IV

Reconciliation of Input Tax Credit (ITC)

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 un-reconciled difference in ITC

A

Reason 1

<<Text>>

B

Reason 2

<<Text>>

C

Reason 3

<<Text>>

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, stolen, destroyed, written off or disposed of by way of gift or free samples

G

Royalties

H

Employees' Cost (Salaries, wages, Bonus etc.)

I

Conveyance charges

J

Bank Charges

K

Entertainment charges

L

Stationery Expenses (including postage etc.)

M

Repair and Maintenance

N

Other Miscellaneous expenses

O

Capital goods

P

Any other expense 1

Q

Any other expense 2

R

Total amount of eligible ITC availed

<<Auto>>

S

ITC claimed in Annual Return (GSTR9)

T

Un-reconciled ITC

ITC 2

15

Reasons for un - reconciled difference in ITC

A B C

Reason 1

<<Text>>

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 applicable

1

2

3

4

5

6

5%

12%

18%

28%

3%

0.25%

0.10%

Input Tax Credit

Interest

Late Fee

Penalty

Any other amount paid for supplies not included in Annual Return (GSTR 9)

Erroneous refund to be paid back

Outstanding demands to be settled

Other (Pl. specify)

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 earlier), the value of such revenue shall be declared here. (For  example,  if  rupees  Ten    Crores  of  unbilled  revenue  existed  for  the financial year 2016-17, and during the current financial year, GST was paid on rupees Four  Crores of such revenue, then value of rupees Four Crores rupees shall be declared here)
5C	Value of all advances for which GST has been paid but the same has not been recognized  as  revenue  in  the  audited  Annual  Financial  Statement  shall  be declared here.
5D	Aggregate value of deemed supplies under Schedule I of the CGST Act, 2017 shall  be  declared  here.  Any  deemed  supply  which  is  already  part  of  the turnover  in  the  audited  Annual  Financial  Statement  is  not  required  to  be included here.
5E	Aggregate value of credit notes which were issued after 31st of March for any supply  accounted  in  the  current  financial  year  but  such  credit  notes  were reflected in the annual return (GSTR-9)shall be declared here.
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.
5G	Turnover included in the audited Annual Financial Statement for April 2017 to June 2017 shall be declared here.
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.
5I	Value of all advances for which GST has not been paid but the same has been recognized  as  revenue  in  the  audited  Annual  Financial  Statement  shall  be declared here.
5J	Aggregate value of credit notes which have been accounted for in the audited Annual Financial Statement but were not admissible under Section 34 of the CGST Act shall be declared here.
5K	Aggregate  value  of  all  goods supplied by SEZs to DTA units  for which  the DTA units have filed bill of entry shall be declared here.
5L	There  may  be  cases  where  registered  persons  might  have  opted  out  of  the 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.
5Q	Annual turnover as declared in the Annual Return (GSTR 9) shall be declared here.  This  turnover  may  be  derived  from  Sr.  No.  5N,  10  and  11  of  Annual Return (GSTR 9).
6	Reasons  for  non-reconciliation  between  the  annual  turnover  declared  in  the audited  Annual  Financial  Statement  and  turnover  as  declared  in  the  Annual Return (GSTR 9) shall be specified here.
7	The  table  provides  for  reconciliation  of  taxable  turnover  from  the  audited annual turnover after adjustments with the taxable turnover declared in annual return (GSTR-9).
7A	Annual turnover as derived in Table 5P above would be auto-populated here.
7B	Value  of  exempted,  nil  rated,  non-GST  and  no-supply  turnover  shall  be declared  here.  This  shall  be  reported  net  of  credit  notes,  debit  notes  and amendments if any.
7C	Value of zero rated supplies (including supplies to SEZs) on which tax is not paid  shall  be  declared  here.  This  shall  be  reported  net  of  credit  notes,  debit notes and amendments if any.
7D	Value of reverse charge supplies on which tax is to be paid by the recipient shall be declared here. This shall be reported net of credit notes, debit notes
	and amendments if any.
7E	The taxable turnover is derived as the difference between the annual turnover after  adjustments  declared  in  Table  7A  above  and  the  sum  of  all  supplies (exempted,  non-GST,  reverse charge  etc.)  declared in Table 7B, 7C and 7D above.
7F	Taxable turnover as declared in Table 4N of the Annual Return (GSTR9) shall be declared here.
8	Reasons for non-reconciliation between adjusted annual taxable turnover as derived from Table 7E above and the taxable turnover declared in Table 7F shall be specified here.

Table No.	Instructions
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.

Table No.	Instructions
12A	ITC  availed  (after  reversals)  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 ITC for each individual GSTIN and declare the same here.  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.
12B	Any  ITC  which  was  booked  in  the  audited  Annual  Financial  Statement  of earlier financial  year(s)but availed in the  ITC ledger in the  financial  yearfor
	which  the  reconciliation  statement  is  being  filed  for  shall  be  declared  here. This  shall  include  transitional  credit  which  was  booked  in  earlier  years  but availed during Financial Year 2017-18.
12C	Any ITC which has been booked in the audited Annual Financial Statement of the current financial year but the same has not been credited to the ITC ledger for the said financial year shall be declared here.
12D	ITC availed as per audited Annual Financial Statement or books of accounts as  derived  from  values  declared  in  Table  12A,  12B  and  12C  above  will  be auto-populated here.
12E	Net  ITC  available  for  utilization  as  declared  in  Table  7J  of  Annual  Return (GSTR9) shall be declared here.
13	Reasons  for  non-reconciliation  of   ITC  as  per  audited  Annual  Financial Statement  or  books  of  account  (Table  12D)  and  the  net  ITC  (Table12E) availed in the Annual Return (GSTR9) shall be specified here.
14	This table is for reconciliation of ITC declared in the Annual Return (GSTR9) against  the  expenses  booked  in  the  audited  Annual  Financial  Statement  or books of account. 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.
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.