for GSTR1, Aggregate turnover and turnover for april,may and june.

[RameshBabu Kari]

Dear Experts,

To file GSTR1, Its is asking aggregate turnover for previous year and also aggregate turnover for the period of April,May and June.

As books of accounts and balance sheet preparation not yet done now, it will be prepared by end of the september only, In such case, shall aggregate turnover for the previous year be exact amount or can it be nearest amount for the turnover ?

Whatever shown on as turnover shall be final or can changed later according to audited books of accounts ?

[KASTURI SETHI]

There is scope for adjustments due to various reasons at the time of filing Annual Return i.e. GSTR-9 which is to be filed by 31 st December of next financial year. The reasons can be revision of price, issuance of debit notes, credit notes etc. Actually annual return is based on Balance Sheet.

[Sumesh C]

Dear Experts,

What if this is the case of new registration and no balance sheet was prepared in earlier year. Is it compulsory to file the figure or can it be zero.

AI Summary

Aggregate turnover reporting: provisional figures may be filed in returns but must be reconciled in the annual return. Aggregate turnover for GSTR1 may be reported provisionally when audited accounts are not yet prepared, but taxpayers must reconcile and adjust those figures in the annual return, which is prepared on the basis of the balance sheet and permits reflection of post-period changes such as price revisions and issuance of debit or credit notes.