Following illustrations can be considered for having the reconciliation differences to be reported in Sl. No.8 of FORM GSTR-9C:
- Zero-rated supply made by the registered person during the previous year. However, conditions relevant for the supply has not been complied by the registered person, can be construed to be a regular supply.
- Transaction reported through delivery challan during the financial year for supply on sale or approval basis beyond a period of six months shall be deemed to be a supply under GST. However, that may not be a sale for revenue recognition in the books of accounts for such transaction. Assuming GST returns carry the supply details and no revenue recognition has been done in the books of accounts, this shall call for thereconciliation.
- Exemption conditions not fulfilled by the registered person while exercising the option to make exempted supply shall be reported as regular supply.