1. GST Annual Returns & Audit Report

2. Returns under GST FORM PARTICULARS DUE DATE APPLICABLE FOR GSTR1*
Outward Supplies
11th of the next month (31st Oct 43/2018)
Normal Taxpayer
GSTR2*
Inward Supplies
15th of the next month (30th Nov 54/2017)
GSTR3*
Monthly return [periodic]
20th of the next month (11th Dec 54/2017)
GSTR3B*
Monthly return (Summary return)
20th of the next month (10th Aug 34/2018)
GSTR4
Return by composition taxpayers
18th of the month next to the quarter
Composition Taxpayer
GSTR5
Return by non resident taxpayers [foreigners]
20th of the next month or within 7 days after expiry of registration, whichever is earlier
Foreign Non-Resident Taxpayer
GSTR6
Return by input service distributors [ISD]
13th of the next month (30-Sep-2018)
Input Service Distributor
*As per Press Release dated 4 May 2018, filing of Form GSTR 2 and GSTR 3 shall continue to remain suspended. Present system of filing Forms GSTR 1 and GSTR 3B shall continue for a period of 6 months.

3. Returns under GST Annual Statement of TCS 31st December of next FY*
FORM
PARTICULARS
DUE DATE
APPLICABLE FOR
GSTR7
TDS**
10th of the next month
Tax Deductor
GSTR8
TCS**
E-Commerce Operator
GSTR9
Annual return
31st December of next FY
Normal tax payer (other than ISD, casual taxpayer, foreigners)
GSTR9A
Composition Taxpayer
GSTR9B
Annual Statement of TCS
31st December of next FY*
GSTR9C
Annual return along with the copy of audited annual accounts and a reconciliation statement
Normal taxpayer having turnover more than 2 crore
GSTR10
Final Return
Within 3 months of the date of cancellation or date of order of cancellation, whichever is later
Persons cancelling registration
**Provisions with respect to TDS and TCS have been put on hold upto 30th Sep 2018
* Last year the provisions were put on hold

4. GST Important Definitions
Business includes –
any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity, whether or not it is for a pecuniary benefit; any activity or transaction in connection with or incidental or ancillary to above, whether or not there is volume, frequency, continuity or regularity of such transaction;
provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members;
any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities; (17/ th July 2018)
Note: In the course of business or furtherance of business.

5. GST Important Definitions
Aggregate turnover means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess.
Exempt supply” means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under section 11, or under section 6 of the Integrated Goods and Services Tax Act, and includes non-taxable supply.
Turnover in State/UT” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis) and exempt supplies made within a State or UT by a taxable person, exports of goods or services or both and inter-State supplies of goods or services or both made from the State or UT by the said taxable person but excludes central tax, State tax, UT tax, integrated tax and cess.

6. GST Audit
Section 2 (13) “audit” means 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.
Types of Audit :
Audit by a Professional
Audit by authorities
Special Audit

7. GST Annual Audit
Audit by Professional: Section 35 (5) Every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant Accounts and other records and shall submit a copy of the audited annual accounts, the reconciliation statement under sub-section (2) of section 44 and such other documents in such form and manner as may be prescribed.
Rule 80 (3) Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner.

8. GST Annual Return Types of Return:
GSTR 9 - Normal tax payer (other than ISD, casual taxpayer, foreigners)
GSTR 9A – Composition Person
GSTR 9B – E-commerce Operator
Minimal Records: 35. (1) Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of—
(a) production or manufacture of goods;
(b) inward and outward supply of goods or services or both;
(c) stock of goods;
(d) input tax credit availed;
(e) output tax payable and paid; and
(f) such other particulars as may be prescribed:
Provided that where more than one place of business is specified in the certificate of registration, the accounts relating to each place of business shall be kept at such places of business.

9. GST Annual Return Form GSTR 9 Particulars Part II Table 4
Details of advances, inward and outward supplies on which tax is payable (RCM) as declared in returns filed during the financial year
Part II Table 5
Details of Outward supplies on which tax is not payable as declared in returns filed during the financial year
Part III Table 6
Details of ITC as declared in returns filed during the financial year
Part III Table 7
Details of ITC Reversed and Ineligible ITC as declared in returns filed during the financial year
Part III Table 8
Other ITC related information ITC GSTR 2A
Part IV Table 9
Details of tax paid as declared in returns filed during the financial year
Part V
Particulars of the transactions for the previous FY declared in returns of April to September of current FY or upto date of filing of annual return of previous FY whichever is earlier
Part VI
Demands, Refunds, Composition purchases, deemed supply and Goods sent on approval, HSN Summary Out Ward Supplies

10. GSTR-1 *

11. Part II - Details of Outward and inward supplies declared during the financial year
Table-4
Particulars
Reference A
B2C Supplies Net off Debit/Credit Notes
1 – 5, 7, 9B, 10 B
B2B Supplies
1 – 4A, 4C C
Zero Rated Supplies (payment of tax) Export
1 – 6A D
SEZ Supplies
1 – 6B E
Deemed Exports
1 – 6C F
Advances received but not invoiced
1 – 11 G
Inward supplies liable to RCM
3B – 3.1(d)
I/J
Credit / Debit Notes
1 – 9B
K/L
Supplies declared through amendments
1 – 9A, 9C
Table 5
Particulars
Reference
Zero Rated, SEZ, RCM outward, Exempted, NIL Rated, Non GST
Mainly Table 8 of GSTR 1
Few Exceptions: HSN for outward, Document Summary

12. Total input tax credit availed through FORM GSTR-3B (Table 6)
Part III - Details of ITC as declared in returns filed during the financial year
Total input tax credit availed through FORM GSTR-3B (Table 6)
Inward Supplies and SEZ Services
URD Supplies and RCM paid
Registered RCM Supplies
Import of Goods and SEZ Goods
Import of Services
ITC From ISD
ITC Reclaimed (Availed, reversed)
Tran I, Tran II Any other ITC availed but not specified above
Note: ITC to be split into – Inputs, Capital Goods, Services
ITC availed but supplier not uploaded (Missing Invoice)

13. ITC Reversal and Ineligible ITC – (Table 7)
Part III - Details of ITC as declared in returns filed during the financial year
ITC Reversal and Ineligible ITC – (Table 7)
Rule 37
Payment not made with in 180 days 
Rule 39
ISD reversal
Rule 42
reversal of common inputs
Rule 43
reversal of common assets ITC
Sec. 17 (5)
Reversal
Reversal of Tran I & II Credit Other ITC Reversal

14. Other ITC Related Information – (Table 8)
Part III - Details of ITC as declared in returns filed during the financial year
Other ITC Related Information – (Table 8)
ITC as per GSTR 2A
ITC as per B2B and reclaimed
Availed during Apr to Sep
ITC Available but not availed
ITC Available but ineligible
IGST on import of goods (-) availed

15.  Other Information Particulars References
Details of Taxes Paid in cash
In Part IV refer to GSTR 3B
Transactions of PY disclosed in Apr to Sep CY returns
In Part V (Sales not disclosed in last year) or shown as B2C instead of B2B
Demands and Refunds
Part VI – RFD 01, manual demands
Composition Supplies (Inward)
Deemed Supply
Goods sent on approval basis (SOA)
HSN Summary outward , HSN Summary Inward
 Vs Income Tax
Document Summary 
Exempted, NIL Rated, Non GST
GST bill available but GSTN not mentioned

16. GST Audit Report Form GSTR 9C Particulars Part II Table 5,6,7,8
Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
Part III Table 9,10,11
Reconciliation of tax paid
Part IV Table 12,13
Reconciliation of Input Tax Credit (ITC)
Part IV Table 14,15,16
Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of account
Part V Table
Auditor's recommendation on additional Liability due to non-reconciliation

17. GST Reconciliation Reports
Types of Reconciliations:
Sales Reconciliation ( Intra, Inter, Export, Deemed, other incomes, returns)
Vs Audited books, E-way bill, Advances.
Unbilled revenue.
Purchases/ Expenses/ ITC (Intra, Inter, Import, others, returns)
Claimed
Not Claimed reasons
RCM (13th October 2017)
Payment not made within 180 days and reclaimed
ITC disallowed Sec 17 read with Rules 37-44
Transition ITC
HSN / Description
GSTR 3B vs 1 and GSTR 3B vs 2A
Challans, Ledgers
Monthly/quarterly vs Annual Returns
Refunds
Stock statement vs Physical Stock for Transition credit.
Trans 1 vs Tran 2

18. GST Proposed Returns Monthly Return and due date
(i) NIL Returns (ii) Small Taxpayers.
Continuous uploading and viewing.
Due date for uploading and action to be taken by the recipient.
Invoices uploaded but return not filed.
Unidirectional flow of document.
Missing invoice reporting (two months)
Offline IT tool
Payment of tax
Recovery of Input credit
Locking of invoices
Rejected Invoices
Pending Invoices
Deemed locking of Invoices
Unlocking of Invoices
HSN
Payment of multiple liablity
Amendment return, invoices, other details, payment (Higher Late Fees)
Profile based return.

19. Thank you
CA P.Prasanna Kumar
Mob: