Taxation
GST Annual Return & Reconciliation
The annual GST return consolidates twelve months of filings and is where differences between the books, the monthly returns and the credit actually availed become visible. Preparing it properly means reconciling three sets of numbers that were never built to agree, and documenting each difference, because an unexplained gap in GSTR-9 is what a scrutiny notice is built from.
What you get
- GSTR-9 prepared from the year of filings, not re-keyed from the books
- GSTR-9C reconciliation statement prepared where turnover requires it
- Turnover per the audited financials reconciled to the turnover declared in returns
- Input credit availed, reversed and reclaimed traced across the year
- Differences documented with the reason, so each one has an answer ready
- Corrections identified that can still be made in a current-period return
FAQ
About gst annual return & reconciliation
Do I have to file the annual return at all?
It depends on your aggregate turnover for the year. There is a threshold below which GSTR-9 is not mandatory, and a separate higher threshold above which the GSTR-9C reconciliation statement is also required. Both thresholds have been revised more than once, so we confirm your obligation against the rules for that financial year rather than assuming.
The annual return shows a difference I cannot fix. What now?
A difference discovered at annual-return stage can often still be corrected through the current period return, up to the cut-off the law allows for amendments relating to the previous year. Past that point the difference is disclosed and explained rather than silently left, because an explained variance is a far better position than an unexplained one when the file is examined.