GSTR 9C -Difference in TURNOVER BETWEEN GST AND Financial Statements
This query is : Resolved
25 September 2021
Dear Sir/Madam,
The Turnover mentioned in GST does not match with the turnover shown in the Financial Statements.Is there any way of Adjusting it by including the differing amount in any of the following options provided in Table no. 5 (sheet name -PT II (5)) of GSTR 9C Offline Tool. For eg. Trade Discounts accounted for in the audited financial statements but are not permissible under GST.
The Turnover mentioned in GST does not match with the turnover shown in the Financial Statements.Is there any way of Adjusting it by including the differing amount in any of the following options provided in Table no. 5 (sheet name -PT II (5)) of GSTR 9C Offline Tool. For eg. Trade Discounts accounted for in the audited financial statements but are not permissible under GST.
25 September 2021
All adjustments between differences in turnover of books and GST can be shown in GSTR-9C. There are specific rows for certain things and there is also a row for other reasons.
Match and fill accordingly.
Match and fill accordingly.
27 September 2021
Thank you for your response sir but won't they cross check and require documents to verify it ?Because if i put the difference in Trade Discounts how shall i provide details then or do i have to provide all the bills in case if the Assessing Officer asks?
27 September 2021
Ofcourse there has to be a valid reason for difference.
Otherwise you may have to pay gst on it.
Otherwise you may have to pay gst on it.
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27 September 2021
One is expected to reconcile because it not then higher gst rate applicable will be demanded by the department.
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