12 December 2022
MR. A REPORTED TOTAL B2B SALE OF RS. 150 IN GSTR -1, WHICH INCLUDES RS. 50 OF SALE OF FIXED ASSETS - WHILE FILLING GSTR - 9 B2B SALE IS RS. 150 BUT ACTUAL IS OF AMOUNTING RS. 100.
IN THIS CASE WHERE TO SHOW DIFFRENCE OF RS. 50 (150-100)
09 July 2024
In the scenario you described, where there is a difference between the B2B sales reported in GSTR-1 and the actual sales amount, here's how you should address it:
1. **Correct Reporting in GSTR-9**: - GSTR-9 is the annual return where you reconcile the annual figures reported in GSTR-1 (monthly or quarterly returns) with the actual annual figures. - You need to report the actual B2B sales figure of Rs. 100 in GSTR-9, as this reflects the correct and actual sales amount.
2. **Adjustment for Discrepancy**: - Since you reported B2B sales of Rs. 150 in GSTR-1 but the actual sales were Rs. 100, there is an excess of Rs. 50 reported. - This excess should be adjusted or rectified in GSTR-9 to reflect the actual sales amount.
3. **Where to Show the Difference**: - In GSTR-9, you should show the discrepancy of Rs. 50 in the relevant tables where you reconcile the figures. Typically, you would adjust this in Table 6 (Part-II) of GSTR-9, which deals with reconciliation of turnover declared in audited financial statements with turnover declared in annual return (GSTR-9).
4. **Rectification Procedure**: - Adjust the figures in Table 6 (Part-II) of GSTR-9 to correctly reflect the actual B2B sales of Rs. 100. - Mention the excess reported amount of Rs. 50 and explain the reasons for the difference. This could be due to reporting errors or other factors that caused the discrepancy.
5. **Documentation**: - Ensure you have supporting documentation such as sales invoices, financial statements, and reconciliation statements that substantiate the actual sales figures reported in GSTR-9.
By rectifying the discrepancy and accurately reporting the actual B2B sales of Rs. 100 in GSTR-9, you ensure compliance with GST regulations and maintain accurate records of your business transactions for the financial year. If you need further assistance or clarification, consulting a GST practitioner or tax advisor would be beneficial.
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