In this article, we will discuss the various GST returns. To know more about the details of each GST Return please visit our blog.
1) GSTR-9
What is GSTR-9? GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGSTand IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.
2) GSTR-9A
What are the returns to be filed by a composition dealer?
A dealer is required to file a quarterly return GSTR-4 by 18th of the month after the end of the quarter. Also, an annual return GSTR-9A has to be filed by 31st December of next financial year.
Also, note that a dealer registered under composition scheme is not required to maintain detailed records
3)GST-AUDIT Under Section 35(5)
Defination of Audit under the CGST Act 2017
Section 2(13) of the CGST Act 2017 States that
2(13) “audit” means ( Exhaustive Defination)
the examination of records,
returns and
other documents
maintained or furnished by the registered person under this Act or the rules made
thereunder or under any other law for the time being in force
To Verify The Correctness
of
turnover declared,
taxes paid,
refund claimed and
input tax credit availed,
and to assess his compliance with the provisions of this Act or the rules made thereunder;
So here we can interpret that the above definition is an Exhaustive one and we need to Audit only the above documents and Scope is defined for the purpose of GST Audit.
4)GSTR-9C Reconciliation Statement :
The reconciliation statement is to be filed for
every GSTIN separately.
The reference to current financial year in this statement is the financial year for which the reconciliation statement is being filed for.
consists of reconciliation of the annual turnover declared in the audited Annual Financial Statement with the turnover as declared in the Annual Return furnished in FORM GSTR-9 for this GSTIN.
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