Supplies received from Composition Taxayers, Deemed Supply by Job Workerand Good Send on Approval Basis
HSN wise details of Outsward Supplies and Inward Supplies
File Form DRC-03
Receive Payment against Invoice
Record to received is Books of Accounts(i.e.Tally Backup, any other accounting system,etc) and Audited Financial Statements, if any
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Prepare the list of all Sales invoices along with ratewise details as per Books of Accounts
Confirm that all the Sales Invoices are in series and no sales invoice is missing
Prepare the list of all RCM invoices along with ratewise details.
GST to be paid on Advance received(for service provider only)
Advance Adjustment of GST paid on Advance received
Prepare HSN/SAC wise summary of all Sales Invoices in case turnover exceeds Rs.1.5 crore in year
Confirm B2C/B2B/Export/SEZ/Advance(after advance adjustment)/RCM details are matching with auto populated data of GSTR9 in Table 4(Table 4 is taking figures from GSTR1 filed by us)
Confirm Auto Populated figures of Zero Rated(export)/SEZ/supplies on which tax is paid by receipent on RCM basis/exempted/nil rated/non GST sales in Table 5 (Table 5 is taking figures from GSTR1 filed by us)
In case of any differences in auto populated figures of above(i.e. Table 4 and Table 5) and as per books, check whether the same is disclosed in GSTR1 of subsequent months i.e.upto Mar-19. If yes, than same needs to be shown in table 10 and 11 of GSTR9. If no, than amounts in auto populated figure is require to be changed to match books of accounts
In case of difference in GSTR3B and Books, short payment need to be made with interest while excess payment need to forgone.
Prepare the Reconciliation Statement i.e. Turnover as per Books and Turnover as per GSTR9(Table 5N + Table 10 + Table 11)
Prepare the list of all Purchase invoices/Expenses Invoice along with ratewise details.
Check whether credit of RCM paid is taken
Confirm with the auto populated figure in Table 6A which takes total from filed GSTR3B of respective financial year with Input Tax credit in Books
Bifurcate the GST credit taken in GSTR3B i.e. auto populated amount in Table 6A into Inward Supplies/Unregistered Dealer RCM/Registered Dealer RCM/Import of Goods/Import of Services/Input Tax Credit for ISD/ITC reclaimed/Trans-1 credit/Trans-2 credit/any other ITC
In case there is difference in credit taken in GSTR3B i.e. Table 6A and Books. If yes
In case of short credit taken in GSTR3B, check whether the short credit was taken in subsequent months i.e. upto Mar-19. If yes than same needs to be reported in Table 8C and Table 13.
If short credit was not taken upto Mar-19, the same will get lapsed and needs to be reported in Table 8E.
If excess credit taken and same is reversed upto Mar-19, Table 12 and Table 7(H)
If excess credit taken and same is not reversed upto Mar-19, than show it in Table 7(H). The same needs to be paid with Interest.
Credit needs to be reversed as per Rule 37 i.e. As a dealer, you would have availed ITC on inward supplies. But if you fail to pay the invoice amount to the supplier within 180 days the ITC has to be reversed. If part of the invoice is paid the ITC will be reversed on a proportionate basis.
Credit needs to be reversed as per Rule 39 i.e. When an ISD receives a Credit Note from a supplier the ITC distributed previously has to be reversed. The dealers to whom the credit was distributed also have to reverse this ITC. This reversal of input tax credit shall be in the same proportion as in the original ITC distribution by the ISD.
Credit needs to be reversed as per Rule 42 i.e.ITC on input supplies partly used for business and partly for exempt supplies or personal use
Credit needs to be reversed as per Rule 43 i.e.ITC on Capital Goods partly used for business and partly for exempt supplies or personal use
No credit has been taken for following as per section 17(5)
Purchases for construction Immovable Assets,
Motor Vehicle(except in case of business of supplying vehicles,
transporter of goods/passenger, imparting training of such vehicles)
Foods & Beverages, Outdoor Catering, Beauty Treatment, Health Services, Cosmetic and Plastic Surgery(Except they are dealing in same business i.e. category of inward and outward supply is same)
Service of General Insurance (except in case of business of supplying vehicles, transporter of goods/passenger, imparting training of such vehicles, Manufacturer of motor vehicle or in supply of General Insurance Service)
Service of Servicing/repairs and maintenance of vehicles (except in case of business of supplying vehicles, transporter of goods/passenger, imparting training of such vehicles, Manufacturer of motor vehicle)
Membership in Club, Health and Fitness center(except cleint are in same business)
Rent a Cab, Health and Life Insurance Services(except cleint are in same business)
Travel Benefit for employees on vacations
goods lost, stolen, destroyed, written off or given off as gift or free samples
Gross GST Liability as per GSTR9 is (Table 5N + Table 10 + Table 11)
GST Credit avaialbe is in Table 7J
Calculate the net liability after adjusting ITC(Paid through ITC) set off in Table 9
Reduce the Net Liability by "Amount paid through Cash" in Table 9 and "Differential tax paid on account of declaration in table no. 10 & 11" in Table 14
If any Liability remains is require to be paid by Form DRC-03