Table 5A
Turnover (including exports) as per audited financial statements for the State/UT (for the multi-GSTIN unit under the same PAN the turnover shall be derived from the audited annual financial statement)
- The turnover as per the audited annual financial statement shall be declared here. There may be cases where multiple GSTINs (State-wise) registrations exist on the same PAN. This is common for persons/entities with presence over multiple States. Search persons/entities will have to internally derive their GSTIN-wise turnover and declare the same here.
- This shall include export turnover (if any)
- It may be noted that reference to audited annual financial statements includes reference to books of account in case of persons/entities having presence over multiple States.
Check balance to validate correctness and completeness
To ensure correctness and completeness of the details of turnover to be declared under this Sl. No. The following checks could be used:
- Turnover in State/UT in case of (in case of single registration) must reconcile to the turnover disclosures in the audited financial statements.
- Turnover in State/UT (in case of multiple registrations) must reconcile to the turnover as recorded in the books of account of each registration.
- Master reconciliation to ensure that the details of turnover declared for different registrations (in case of multiple registrations added due to presence in multiple States/UTs’ due to unit(s) in SEZ) the total turnover of the entity.
List of documents
The following list of documents could be obtained by the auditor for the purpose of declaring the details of turnover under this are as follows:
- Annual financial statements.
- Registrant-wise trial balance to facilitate furnishing the form GSTR 9C for each registrant.
- Communication with the other Auditor to obtain details of the turnover declared by them to ensure the completeness and holistic reconciliation of the turnover of the registered person.
- Form GSTR 9C, if already filed by a different Auditor, in case of multiple registrations of a registered person.
- GST (Viz. Form GSTR 3B and Form GSTR 1) returns filed by the registered person to ensure that the turnover declared in the returns match the turnover captured in the audited financial statements.
- Income tax returns to ensure that the turnover details are reconciled with the turnover per GST.
Table 5B
Unbilled revenue which was recorded in the books of accounts based on the accrual system of accounting in the last financial year and was carried forward to the current financial year shall be declared here.
Table 5C
Adjusted advances at the end of the financial year
Value of all advances for which GST has been paid but the same has not been recognized as revenue in the audited annual financial statement shall be declared here.
Table 5D
Deemed supply under Schedule I
The aggregate value of deemed supply under schedule I shall be declared here. Any deemed supply which is already part of turnover in the audited annual financial statement is not required to be included here.
Disclosure by Auditor
- The auditors have to assess the system and procedures adopted by the entity with a view to identifying such transactions. Suitable disclosures may need to be provided by the Auditor for the basis of such identification and its treatment under the GST law.
- If there is any system/methodology for such an identification, then the Auditor has to assess the completeness and correctness of the state system so as to cover all the aspects.
- To examine and confirm the records if the system is followed consistently without any deviation.
- In case of deemed supply transactions, it would be relevant to include suitable disclosures even in the management representation letter.
