GST Tip – 134

In Annexe 2 of GSTR – 9B, the effective turnover per state (inward supplies ) has to be furnished and it is derived like this Total turnover as per financial statements ( as per financial statements) Less: Turnover pertaining to other States ( as per financial statements) Add: Turnover of stock transfer inward = Effective turnover for present State(Derived value)

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GST Tip- 133

In Section B of Annex 2 of GSTR – 9B, the taxpayer has to show additional information which is not included in the Financial Statements like the amount has to be incurred by supplier but the recipient has paid the same, inward supplies at a reduced price, royalties or licence fee to be paid by the recipient but paid by the supplier, incidental expenses incurred by the supplier, out of pocket expenses, subsidies received or any other taxes or levied paid other that taxes under GST.

GST Tip – 132

In Annexe 2 of GSTR – 9B, the taxpayer has to furnish a reconciliation statement for the inward supplies made in a particular state to the financial statements with the following details, supplies for which consideration is paid, and under barter, supplies to related parties, transactions carried out as a pure agent or money exchanger and other supplier notified by the State and the Central Government from time to time, all these details should be provided in Section A.

GST Tip – 131

In Annexe 1 of GSTR – 9B, the effective turnover per state has to be furnished and it is derived like this
Total Turnover as per Financial Statements
Less : Turnover of other states
Add : Inward Stock Transfer
This is to be computed for each GSTIN and filed along with the annual return GSTR – 9.

GST Tip – 130

In Annexe – 1 of the GSTR – 9B, the data related to Revenue has to be furnished. In Section D ( Adjustments (Differences on account of time of supply)) the taxpayer has to show the Opening Unbilled Revenue and the Closing Unbilled Revenue.

GST Tip – 129

In Annexure 1 of GSTR -9B, the taxpayer has to furnish a reconciliation statement for the outward supplies made in a particular state to the financial statements with the following details, supplies made under barter, supplies to related parties, transactions carried out as a pure agent or money exchanger and other supplier notified by the State and the Central Government from time to time, all these details should be provided in Section A of Annexure -1.

GST Tip – 128

Similar to the sales details shown in the Income Sheet of GSTR -9B, inward supplies have to be shown in Expenditure sheet along with the unit of measure and quantity. Also, reconciliation has to be provided for expenditure as per the P & L at the legal entity level and expenses at the state level basis of accounting head.