GST Reconciliation Statement (GSTR-9C)
Preparation and verification of statutory Reconciliation Statement in Form GSTR-9C reconciling audited Annual Financial Statements with GSTR-9 by B. Mallesh & Co., Chartered Accountants.
1. Statutory Reconciliation Mandate (Rule 80(3))
Under Section 44(2) read with Rule 80(3) of the CGST Rules, 2017, every registered person whose aggregate turnover during a financial year exceeds ₹5 Crores must submit a self-certified Reconciliation Statement in Form GSTR-9C along with the Annual Return GSTR-9.
Key Audit Reconciliation Areas in GSTR-9C
- • Gross Turnover Reconciliation: Reconciling Audited Financial Statements revenue with GSTR-9 declared turnover.
- • Taxable Turnover & Rate-Wise Match: Reconciling CGST, SGST, IGST, and Cess tax liability across rates.
- • Input Tax Credit (ITC) Reconciliation: Reconciling ITC claimed in GSTR-3B against Audited Expense Accounts.
2. Mandatory Data Checklist
Required Uploads for GSTR-9C Statement
- Audited Balance Sheet & Profit and Loss Account
- Statutory Audit Report Copy
- Filed GSTR-9 Annual Return Copy
- Expense Ledger Breakups for ITC Verification
3. Step-by-Step GSTR-9C Process
Step 1: Ledger Mapping & Un-reconciled Variance Analysis
Mapping audited expense heads against ITC claimed and identifying turnover variances.
Step 2: GSTR-9C Statement Preparation & DRC-03 Tax Payment
Preparing Form GSTR-9C offline tool, paying un-reconciled tax via DRC-03, and submitting on GST portal.
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Mancherial Office Contact
B. Mallesh & Co., Co. Laxmi Theater, Indra Nagar, Mancherial, Telangana - 504208