FAQ – 10

For determining the eligibility for the GST Audit, do I need to consider the turnover as per the financial statements or I need to compute it separately?

It has to be considered separately as the turnover given in the Financial statements is based on the accounting standards and for GST it is based on Aggregate Turnover and Supply also includes some transactions even if consideration is not received as detailed in Schedule 1 of CGST Act.

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GST Tip – 135

Summary details for the differences between the Annual Return and as per the Published Financial Statements for the outward supplies for Tax Liabilities on Interstate supplies, Intrastate Supplies, Exports, Sales returns, and Supplies liable for Reverse Charge along with remarks in Annex 3 of GSTR – 9B.

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.