TaxTMI 
TaxTMI 
Reconciliation Statement
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.... The total turnover of outward supplies declared in the returns includes all the outward supplies effected during the year; 3 The total turnover of inward supplies declared in the returns includes all the inward supplies made during the year; 4 The deductions from the total turnover including deduction on account of sales /supplies returns claimed in the returns are in conformity with the provisions of the law; 5 The adjustment to turnover of outward supplies and inward supplies is based on the entries made in the books of account maintained for the year; 6 The classification of outward goods/services suppliedand inward supplies, rate of tax applicable and computation of output tax and input tax and net tax payable as shown in the return is correct; 7 The computation of classification of goods supplied, the amount of input tax paid and deductions of input tax credit claimed and reversed in the return is correct and in conformity with the provisions of law; 8 Other information given in the returns is correct and complete. (A) GENERAL INFORMATION 1 Name of the taxable person 2 GSTIN 3 Address 3(a) Principal place of business 3(b....
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....on date of financial statements (GST payable) Annex 10 13 Balances as on date of financial statements (ITC) Annex 11 14 ITC Annex 1 15 Tax paid on advance receipts Annex 1 14 TDS deducted Annex 12 Reconciliation of Outward supplies( including taxable supplies on account of time of supply being different from invoice date) Particulars Amount Remarks Value of outward supplies as per returns (Section 15) > Adjustments: A) Difference in value of supplies as per returns and financial statements on account of following reasons: Amount Please specify briefly the details 15(4)(i): minus the consideration, whether paid or payable, is not money, wholly or 15(4)(ii): minus the supplier and the recipient of the supply are related 15(4)(iii): Other reasons minus there is reason to doubt the truth or accuracy of the transaction value declared by the supplier 15(4)(iv): Special sectors plus/minus business transactions in the nature of pure agent, money changer, insurer, air travel agent and distributor or selling agent of lottery 15(4)(v): Other notified cases plus/minus such other supplies as may be notified by the Central or a State Government in this behalf B) Adjustme....
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....s on account of time of supply being different from invoice date) Particulars Amount Remarks Value of inward supplies as per returns (Section 17) > Adjustments: A) Difference in value of supplies as per returns and financial statements on account of following reasons: 15(4)(i): the consideration, whether paid or payable, is not money, wholly or 15(4)(ii): the supplier and the recipient of the supply are related 15(4)(iii): Other reasons there is reason to doubt the truth or accuracy of the transaction value declared by the supplier 15(4)(iv): Special sectors business transactions in the nature of pure agent, money changer, insurer, air travel agent and distributor or selling agent of lottery 15(4)(v): Other notified cases such other supplies as may be notified by the Central or a State Government in this behalf B) Adjustments (if not included in financial statements) 15(2)(a) any amount that the supplier is liable to pay but which has been incurred by the recipient of the supply and not included in the price actually paid or payable for the goodsand/or services 15(2)(b) the value, apportioned as appropriate, of such goods and/or services as are supplied dire....
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....ion of 'Input tax credit availed during the year' As per Annual return As per Auditor Difference Particulars CGST SGST IGST Total CGST SGST IGST Total CGST SGST IGST Total Remarks Input tax credit availed on: Inter-State supplies Intra-State supplies Imports Purchase returns Total Reconciliation of 'Payment of Tax liability on output supply and supplies liable to reverse charge' As per return As per financial statements Difference Particulars CGST SGST IGST Total CGST SGST IGST Total CGST SGST IGST Total Remarks By Utilising Cash in Cash Ledger By Utilising Input tax Credit Ledger By Utilising TDS in Cash Ledger Reconciliation of 'Deposit by Challans' Particulars CGST SGST IGST Total Tax deposit by Challans as per returns Tax deposit by Challans as per books of accounts Difference Reason for difference Reason 1 Reason 2 Reason 3 Reason 4 Total Reconciliation of 'Transfer of TDS from deductors' Particulars CGST SGST IGST Total Amount of Transfer of TDS from deductors as per returns Amount of Transfer of TDS from deductors as per financial statements Difference Reson for difference Reason 1 Reason 2 Reason 3 Reason 4 Total R....
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....ST Tax Rate SGST Tax CGST Tax SGST 1 2 3 (C)Total value of supplies on which GST Paid (Exports) Goods As per Annual Return As per Auditor S.N Description HSN Code Tax Rate FOB Value IGST Customs Duty Tax Rate FOB Value IGST Customs Duty Reason for differences 1 2 3 Services As per Annual Return As per Auditor S.N Description SAC Tax Rate FOB value IGST Tax Rate FOB value IGST 1 2 3 (D)Total value of supplies on which no GST Paid (Exports) Goods As per Annual Return As per Auditor S.N Description HSN Code Tax Rate FOB Value Tax Rate FOB Value Reason for differences 1 2 3 Services As per Annual Return As per Auditor S.N Description SAC Tax Rate FOB value Tax Rate FOB value 1 2 3 (E)Value of Other Supplies on which no GST paid As per Annual return As per Auditor S.N Goods/service Value Value Reason for differences 1 2 3 (F)Sales Returns Goods As per Annual Return As per Auditor S.N Description HSN Code Taxable value CGST SGST IGST Taxable value CGST SGST IGST Reason for differences 1 2 3 (G) Other Income (Income other than from supplies) As per Annual return As per Auditor S.N Specify Head Amou....
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....TC not taken or issued for other purposes not considered in GST returns A. Summary of details filed as per monthly returns - Inward supplies A.1 Goods - ITC availed ITC availed Amounts as per Auditor HSN Code Description UQC Quantity Taxable Value CGST SGST IGST Additional tax# Taxable Value CGST SGST IGST Additional tax# Remarks XXX Good 1 Units 2000 200000 10000 8000 18000 1000 Refer table 4, 5 of GSTR 2 Adjustments: Impact of amendments to details of inward supplies Refer table 4A, 5A of GSTR 2 These tables record any typing errors/ clerical errors eg. incorrect HSN, invoice no. value, tax rate, POS, BoE etc. Impact of price revisions Refer table 7 and 7A XXX Total Value Good 1 Units 2000 200000 10000 8000 18000 1000 This amount does not account for purchase returns. To be reported separately. Notes: 1. This table will contain details of inward supplies of goods on which ITC has been availed by the taxpayer 2. Details of imports, reverse charge, any common supplies transferred to ISD are to be recorded in above table 3(a). Credit Note/ Debit Note should be separately issued for goods/ services for adjustment with each HSN/SAC. Otherwise, di....
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....unregistered dealers are to be reported in this table 2. Entering HSN/SAC is only recommendatory and not mandatory for this table Reconciliation Statement tax rate Things to be considered for reconciliation Returns vis-Ã -vis Financial Statements product wise 1. Sales 2. Purchases Value of outward supplies as per returns 17(4) 20 3. ITC Adjustments: 4. Monthly Output tax liability (Total) A) Difference in value of supplies as per returns and financial statements on account of following reasons: 5. Net tax payable in Cash (Total) 17(4)(i): Consideration is not in money 6. Net tax paid in cash 17(4)(ii): Related party adjustment 7. Net tax paid through WC-TDS 17(4)(iii): Other reasons 8. Net tax paid through ITC 17(4)(iv): Special sectors 9. Refunds 17(4)(v): Other notified cases 10. Amounts paid under protest/ as pre-deposit 11. Balances as on date of Financial Statements Value of outward supplies as per returns 17(1) 80 12(a) Payable B) Adjustments (if not included in financial statements) 12(b) ITC 17(2)(a) any amount that the supplier is liable to pay but which has been incurred by the recipient of the supply and not included in the pric....