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)
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.
GST Tip – 127
In GSTR -9B, the taxpayer has to give the differences between the outward supplies furnished in the GSTR – 9 and the audited financial statements for Inter-State supplies, Intra-state supplies, exports on which GST is not paid, and sales return in Income Sheet. In the income sheet details of other incomes on which GST is not applicable with reference to ledger accounts.
GST Tip – 126
Along with the annual return GSTR – 9, the taxpayer has to file the reconciliation statements in GSTR – 9B. The format of the reconciliation statements is given in xls and it has 16 sheets apart from the declaration from the Statutory Auditor. The format of the GSTR – 9B -http://india-gst.in/wp-content/uploads/2016/09/gstr_9b-26092016.xlsx
GST Tip – 125
In the Annual Return GSTR – 9, the taxpayer is also required to furnish information relating to other amounts payable to the department on the orders received by him. This information has to be shown in Section 8 of GSTR – 9, details of the order, tax payable, interest, penalty and status of the order.
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