1. GSTR 9 & 9C CA Shankara Narayanan V GPVS & Associates 23-03-2019
CA Shankara Narayanan V, Chennai

2. Checklists & Worksheets - Multilocation
Registered branches in two different States / UTs;
Registrants within the same State, as business verticals or otherwise;
Business locations outside India;
Branches in a State that are found liable to register but are not registered
CA Shankara Narayanan V, Chennai

3. Checklists & Worksheets – Multilocation – Books & Records
To be maintained GSTIN wise
If Maintained Totally;
Methodology to derive Information – Work Sheet
CA Shankara Narayanan V, Chennai

4. Checklists & Worksheets – Multilocation – Books & Records
GSTIN-wise trial balance
Identification of GST Ledgers
GSTR 3B and GSTR 2A match
GSTR 3B and GSTR 1 match
GSTR 3B & 1 should match with Books of Accounts
CA Shankara Narayanan V, Chennai

5. Checklists & Worksheets – GST Accounting
E-Cash Ledger
E-Credit Ledger
E-Liability Ledger
Additional Ledgers - Advances
Regular
Location 1
GST E-Cash Ledger A/c
CGST ITC - Location A/c
CGST Liability - Location A/c
CGST Adv Interim - Location A/c
SGST ITC - Location A/c
SGST Liability - Location A/c
SGST Adv Interim - Location A/c
IGST ITC - Location A/c
IGST Liability - Location A/c
IGST Adv Interim - Location A/c
CA Shankara Narayanan V, Chennai

6. Checklists – Revenue Recognition vs Output Tax Liability
HSN Classification
Rate applicability
Goods
177 items 28% to 18% from 15th Nov 17
Service - Maximum Rate
Transfer of Right to Use
CA Shankara Narayanan V, Chennai

7. Checklists – Revenue Recognition vs Output Tax Liability
Advances
For Goods Advances
No Tax before GST
GST Applicable from 1st July 2017 to 14th Nov 2017
No Tax from 15th Nov 2017
CA Shankara Narayanan V, Chennai

8. Checklists – Revenue Recognition vs Output Tax Liability
Advances
For Service Advances
Service Tax POT was applicable before GST
GST Applicable
GST continues to be applicable
CA Shankara Narayanan V, Chennai

9. Checklists – Deemed Supply vs Output Tax Liability
Supply between Distinct Persons Taxable
Involves both Goods & Services
Elimination of Intra-Company Turnover
Reconciliation within Accounts & Returns
CA Shankara Narayanan V, Chennai

10. Checklists – Deemed Supply vs Output Tax Liability
Food / Transportation to Employees
Free
at Subsidised Rate
Section 15 – Related Person
Gifts (Rs. 50,000 limit)
CA Shankara Narayanan V, Chennai

11. Checklists – Deemed Supply vs Output Tax Liability – JOB WORK
Inputs to be received back in one year
Capital Goods to be received back in three years
Else it will be regarded as supply by the principal to the job worker
CA Shankara Narayanan V, Chennai

12. Checklists & Worksheets – Outward Liability on Disposal of Assets
Motor Vehicles
Up to 12th October
From 12th October to 24th January
From 25th January
CA Shankara Narayanan V, Chennai

13. Checklists & Worksheets – Outward Liability on Disposal of Assets
Other than Motor Vehicles
5% per quarter Eligibility
Transition Impact
CA Shankara Narayanan V, Chennai

14. Checklists & Worksheets – Outward Liability Other Recon Points
Debit Note
Interest Liability - Exceptions
Credit Note
Discount / Incentives – TREATMENT
CA Shankara Narayanan V, Chennai

15. Checklists & Worksheets – Outward Liability Other Recon Points
ZERO Rated Supply vs DEEMED Exports
LUT Compliance
CA Shankara Narayanan V, Chennai

16. Checklists & Worksheets – Other Outward Liabilities - RCM
Reverse Charge Mechanism
Section 9 (3) – Notified
Section 9 (4) – Unregistered
Deferred till 30th September 2019
Limit of Rs. 5,000/- up to 12th October 2017
CA Shankara Narayanan V, Chennai

17. Checklists & Worksheets – Other Outward Liabilities - RCM
Reverse Charge Section 9 (3)
Goods
Cashew Nuts; Tendu Leaves ; Tobacco Leaves
Silk yarn ; Raw Cotton
Goods disposed by Government
Lottery
CA Shankara Narayanan V, Chennai

18. Checklists & Worksheets – Other Outward Liabilities - RCM
Reverse Charge Section 9 (3)
Services
Legal Services by a Lawyer
Services of a Director
Services supplied by a director of a company or a body corporate to the said company or the body corporate
Sponsorship Services
CA Shankara Narayanan V, Chennai

19. Checklists & Worksheets – Other Outward Liabilities - RCM
Reverse Charge Section 9 (3)
Services
Goods Transport Services
Imports of Goods on CIF basis
Copyrights
Import of Services
CA Shankara Narayanan V, Chennai

20. Checklists & Worksheets – Input Tax Credit
Tax Invoice
Self - Invoice, subject to the payment of tax
a debit note issued by a supplier
a bill of entry or any similar document under the Customs Act, 1962
an Input Service Distributor ISD invoice
CA Shankara Narayanan V, Chennai

21. Checklists & Worksheets – Input Tax Credit
Value of supply with tax payable FAILS to PAY
within 180 days from Invoice Date
Time Limit
CA Shankara Narayanan V, Chennai

22. Checklists & Worksheets – Input Tax Credit – Capital Goods
Claimed Depreciation on tax component
Asset purchased for Rs. 1 crore
GST Paid Rs. 28 lakhs
Asset capitalised for Rs Crores
Is ITC eligible ?

23. Checklists & Worksheets – Input Tax Credit – Capital Goods
What is Capitalisation
Does taking to CWIP means Capitalisation
When the Credit can be availed
CA Shankara Narayanan V, Chennai

24. Checklists & Worksheets – Input Tax Credit – Taxable & Exempted
Total Input Tax Credit
Credit Ineligible
Credit Specific
Other Credits
To Taxable
Proportionate to Taxable
To Exempt
Proportionate to Exempt
CA Shankara Narayanan V, Chennai

25. Checklists & Worksheets – Input Tax Credit
Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples
Impact Areas
Stock shortage on Physical Verification ?
Goods given on Warranty ?
Goods given as Free samples ?
CA Shankara Narayanan V, Chennai

26. Checklists & Worksheets – Input Tax Credit
Impact Areas
Goods used for Testing ?
New Year or Diwali Gifts ?
Inventory Written-Off ?
Slow moving Inventory PROVISION ?
Impairment on Fixed Assets ?
CA Shankara Narayanan V, Chennai

27. Checklists & Worksheets – Interest
18% per annum - Scenarios
24% per annum - Scenarios
Interest on Gross Liability
Tax Liability for the Month
– Rs. 50 lakhs
Input Tax availed during the month – Rs. 30 lakhs
Interest Payable on ?
CA Shankara Narayanan V, Chennai

28. Checklists & Worksheets – Interest
Interest till filing
Tax Liability for the Month
– Rs. 50 lakhs
Input Tax availed during the month – Rs. 30 lakhs
Rs. 20 lakhs Cash Paid on 20th Return filed on 25th
Is Interest Payable?
CA Shankara Narayanan V, Chennai

29. GSTR – 9
Clause by Clause
CA Shankara Narayanan V, Chennai

30. GST Annual Return On Screen Filing 23-03-2019
CA Shankara Narayanan V, Chennai

31.
CA Shankara Narayanan V, Chennai

32. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

33. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

34. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

35. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

36. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

37. GSTR 9 – ANNUAL RETURN – Consol GSTR-1
CA Shankara Narayanan V, Chennai

38. GSTR 9 – ANNUAL RETURN – Consol GSTR 3B
CA Shankara Narayanan V, Chennai

39. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

40. GSTR 9 – Table 4
CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

47. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

56. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

57.
CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

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CA Shankara Narayanan V, Chennai

60. GSTR 9 – ANNUAL RETURN
CA Shankara Narayanan V, Chennai

61. GST - Reconciliation Statement &
Audit by External Auditors
CA Shankara Narayanan V
CA Shankara Narayanan V, Chennai

62. Types of Audit under GST –
Audit by a Chartered Accountant – Sec.35 (5) of the CGST Act, read with rule 80(3) of the CGST rules, Annual return to be filed u/s 44 in Form GSTR-9/9A/9B shall be supported by a certified reconciliation statement between Audited Financial statements and Returns filed.
CA Shankara Narayanan V, Chennai

63. Audit by a Chartered Accountant
Aggregate turnover > 2 crores
Rule 80(3) of the CGST rules provides that, Every registered
person turnover
whose during a
aggregate financial
All India PAN basis
Includes
year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5)
Taxable supplies
Export of Goods and services
Exempted supplies
of section 35 and he shall
furnish a annual
copy of audited accounts and a
duly
reconciliation statement,
certified, in FORM GSTR-9C.
CA Shankara Narayanan V, Chennai

64. Audit by a Chartered Accountant
“Exempt supply” means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under section 11, or under section
6 of the Integrated Goods and Services Tax Act, and
includes non-taxable supply
CA Shankara Narayanan V, Chennai

65. Audit by a Chartered Accountant
Annual Turnover – Rule 80(3) provides if aggregate turnover during the financial year exceeds INR 2 crores. GST is effective from 1st July 2017 i.e, only for 9 months during FYE
What is the threshold for turnover for FYE is yet to be clarified by Government
Whether to consider INR 2 crores or proportionate for 9 months
CA Shankara Narayanan V, Chennai

66. Part – A Reconciliation statements
Part – B Certifications
GSTR – 9C
Part - I
Part - II
Part - III
Part - IV
Part - V
Basic details
Reconciliation of
Reconciliation of taxes paid
Reconciliation of Net Input Tax Credit
Auditor's recommendation on additional Liability due to non- reconciliation
turnover declared
in audited Annual
Financial
Statement with turnover declared in Annual Return (GSTR9)
CA Shankara Narayanan V, Chennai

67. Part B - Certification Verification:
I hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my knowledge and belief and nothing has been concealed there from.
Signature and stamp/Seal of the Auditor
CA Shankara Narayanan V, Chennai

68. Part B - Certification
Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit
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:
CA Shankara Narayanan V, Chennai

69. Part B – Certification – Statutory is GST Auditor
1. I/we have examined the—
balance sheet as on ………
the *profit and loss account/income and expenditure account for the period beginning from ………..…to ending on ……., and
the cash flow statement for the period beginning from ……..…to ending on
………, —attached herewith, of M/s …………… (Name), …………………….………… (Address), ..…………………(GSTIN).
CA Shankara Narayanan V, Chennai

70. Part B – Certification – Statutory is GST Auditor
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
CA Shankara Narayanan V, Chennai

71. Part B – Certification – Statutory is GST Auditor
3. (a) *I/we report the following observations/ comments / discrepancies / inconsistencies; if any: …………………………………….
3. (b) *I/we further report that, -
(A) *I/we have obtained all the information and explanations which, to the best of *my/our knowledge and belief, were necessary for the purpose of the audit/ information and explanations which, to the best of *my/our knowledge and belief, were necessary for the purpose of the audit were not provided/partially provided to us.
CA Shankara Narayanan V, Chennai

72. Part B – Certification – Statutory is GST Auditor
In *my/our opinion, proper books of account *have/have not been kept by the registered person so far as appears from*my/ our examination of the books.
I/we certify that the balance sheet, the *profit and loss/income and expenditure account and the cash flow Statement are *in agreement/not in agreement with the books of account maintained at the Principal place of business at ……………………and ** ……………………additional place of business within the State.
CA Shankara Narayanan V, Chennai

73. Part B – Certification – Statutory is GST Auditor
The documents required to be furnished under section 35 (5) of the CGST Act and Reconciliation Statement required to be furnished under section 44(2) of the CGST Act is annexed herewith in Form No. GSTR-9C.
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:
……………………………………………
CA Shankara Narayanan V, Chennai

74. Part B – Certification – Statutory is NOT GST Auditor
*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 of each of :-
CA Shankara Narayanan V, Chennai

75. Part B – Certification – Statutory is NOT GST Auditor
balance sheet as on ………
the *profit and loss account/income and expenditure account for the period beginning from ………..…to ending on …….,
the cash flow statement for the period beginning from ……..…to ending on
………, and
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.
CA Shankara Narayanan V, Chennai

76. Part B – Certification – Statutory is NOT GST Auditor
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
CA Shankara Narayanan V, Chennai

77. Part B – Certification – Statutory is NOT GST
Auditor
The documents required to be furnished under section 35 (5) of the CGST Act
and Reconciliation Statement required to be furnished under section 44(2) of the CGST Act is annexed herewith in Form No. GSTR-9C.
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:
……………………………………………
CA Shankara Narayanan V, Chennai

78. Checklists – Revenue Recognition vs Output Tax Liability
Unbilled Revenue
Revenue recognised for Accounting Purposes NOT YET in GST
Bi-monthly / quarterly billing
Work completed (30 days / 45 days)
Continuous Supply of Service – Construction / Works Contract
CA Shankara Narayanan V, Chennai

79. Checklists – Revenue Recognition vs Output Tax Liability
Deferred Revenue
Revenue recognised in GST but not in Accounts
GST paid on Invoicing
Insurance Contracts
AMC
CA Shankara Narayanan V, Chennai

80. Reconciliation of Gross Turnover
Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
Reconciliation of Gross Turnover 1
Turnover (including exports) as per audited financial statements for the State / UT 2
Unbilled revenue at the beginning of Financial Year + 3
Unadjusted advances at the end of the Financial Year 4
Deemed Supply under Schedule I 5
Credit Notes issued after the end of the financial year but reflected in the annual return 6
Trade Discounts accounted for in the audited Annual Financial Statement but are not permissible under GST
CA Shankara Narayanan V, Chennai

81. Reconciliation of Gross Turnover
Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
Reconciliation of Gross Turnover 7
Turnover from April 2017 to June 2017
(-) 8
Unbilled revenue at the end of Financial Year 9
Unadjusted Advances at the beginning of the Financial Year 10
Credit notes accounted for in the audited Annual Financial Statement but are not permissible under GST
(+) 11
Adjustments on account of supply of goods by SEZ units to DTA Units 12
Turnover for the period under composition scheme 13
Adjustments in turnover under section 15 and rules thereunder and Foreign exchange fluctuations
+ / (-)
CA Shankara Narayanan V, Chennai

82. Annual turnover after adjustments as above
Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
Annual turnover after adjustments as above
Turnover as declared in Annual Return (GSTR9)
Un-Reconciled turnover
Reasons for Un - Reconciled difference in Annual Gross Turnover
Reconciliation of rate wise liability and amount payable thereon
Additional amount payable but not paid - To be paid in cash
CA Shankara Narayanan V, Chennai

83. Reconciliation of rate wise liability and amount payable thereon
Reconciliation of Taxable Turnover
Annual turnover after adjustments (A)
< Auto >
Value of Exempted, Nil Rated, Non-GST supplies, No-Supply turnover (B)
( - )
Zero rated supplies without payment of tax (C)
Supplies on which tax is to be paid by the recipient on reverse charge basis (D)
Taxable turnover as per adjustments above (A-B-C-D)
Taxable turnover as per liability declared in Annual Return (GSTR9)
Unreconciled taxable turnover
Reasons for Un - Reconciled difference in taxable turnover
Reconciliation of rate wise liability and amount payable thereon
CA Shankara Narayanan V, Chennai

84. Reconciliation of Input Tax Credit (ITC)
Reconciliation of Net Input Tax Credit (ITC)
ITC availed as per audited Annual Financial Statement for the State/ UT
ITC booked in earlier Financial Years claimed in current Financial Year (+)
ITC booked in current Financial Year to be claimed in subsequent Financial Years ( - )
ITC availed as per audited financial statements or books of account
ITC claimed in Annual Return (GSTR - 9)
Un-reconciled ITC and Reasons thereof
CA Shankara Narayanan V, Chennai

85. Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of account
Purchases
Freight / Carriage
Power and Fuel
Imported goods (Including received from SEZs)
Rent and Insurance
Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples
Royalties
Employees' Cost (Salaries, wages, Bonus etc.)
Conveyance charges
Bank Charges
Entertainment charges
Stationery Expenses (including postage etc.)
Repair and Maintenance
Other Miscellaneous expenses
Capital goods
CA Shankara Narayanan V, Chennai

86. Tax payable on un-reconciled difference in ITC
Auditor's recommendation on additional Liability due to non-reconciliation
Tax payable on un-reconciled difference in ITC
CA Shankara Narayanan V, Chennai

87. Thank you CA Shankar Narayanan V Mail@ shankar@gpvs.co.in 23-03-2019
CA Shankara Narayanan V, Chennai