Clause By Clause Discussion and Clarification for Filing GST Annual Return & GST Audit (GSTR-9 and GSTR-9C) – By Bimal Jain

GST Course Content

Realizing the need for a one-to-one Live Session on GST, we are organizing an exclusive Live interactive Sessions with the most renowned thought leader and experts on GST- CA Bimal Jain.

This series of GST Live Sessions will be a 3 interactive session of 2.5 Hrs each, spread across 3 days, starting 14th July 2020. The sessions cover extensive discussion on GST Audit and GST Annual Returns with a dedicated Q&A session on the final day.

Session I: Clause by Clause filing of GST Annual Return (Form GSTR-9)

14th July 2020 (Tuesday)                                                                             

• Details of Outward and inward supplies made during the financial year
• Details of advances, inward and outward supplies on which tax is payable as declared in returns filed during the financial year
• Details of Outward supplies on which tax is not payable as declared in returns filed during the financial year
• Details of ITC for the financial year
• Details of ITC availed as declared in returns filed during the financial year
• Details of ITC Reversed and Ineligible ITC as declared in returns filed during the financial year
• Other ITC related information
• Details of tax paid as declared in returns field during the financial year
• Supplies / tax declared through Amendments (+) (net of debit notes)
• Supplies / tax reduced through Amendments (-) (net of credit notes)
• Reversal of ITC availed during previous financial year
• ITC availed for the previous financial year
• Differential tax paid on account of declaration
• Particulars of Demands and Refunds
• Information on supplies received from composition taxpayers, deemed supply under section 143 and goods sent on approval basis
• HSN Wise Summary of outward supplies
• HSN Wise Summary of Inward supplies

Session II: Clause by Clause filing of GST Audit Report (Form GSTR-9C)

16th July 2020 (Thursday)

• Reconciliation Statement – GSTR – 9C
• Who is required to get themselves audit?
• Basic Details
  • Financial Year
  • GSTIN
  • Legal Name
  • Trade Name (if any)
  • Are you liable to audit under any Act?
• Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR9)
  • Reconciliation of Gross Turnover
  • Reasons for Un – Reconciled difference in Annual Gross Turnover
  • Reconciliation of Taxable Turnover
• Reconciliation of Input Tax Credit (ITC)
  • Reconciliation of Net Input Tax Credit (ITC)
  • ITC availed as per audited Annual Financial Statement for the State/ UT (For multi-GSTIN units under same PAN this should be derived from books of accounts)
  • ITC booked in earlier Financial Years claimed in current Financial Year
  • ITC booked in current Financial Year to be claimed in subsequent Financial Years
  • ITC availed as per audited financial statements or books of account
  • ITC claimed in Annual Return (GSTR9)
  • Un-reconciled ITC
  • Reasons for un-reconciled difference in ITC
  • Reconciliation of ITC declared in Annual Return (GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of account
  • Reasons for un – reconciled difference in ITC
  • Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above)
• Auditor’s recommendation on additional Liability due to non-reconciliation
• Key precautions and safeguards for GST Annual Return and Reconciliation etc.

Session III: Question and Answer Session

18th July 2020 (Saturday)

• Practical Questions on GST Audit and Annual Returns