GSTR 1 Reconciliation | GSTR-1 Reconciliation in Excel | GSTR-1 Reconciliation format скачать в хорошем качестве

GSTR 1 Reconciliation | GSTR-1 Reconciliation in Excel | GSTR-1 Reconciliation format

GSTR 1 Reconciliation | GSTR-1 Reconciliation in Excel | GSTR-1 Reconciliation format Topic Covered GSTR-1 reconciliation GSTR-1 reconciliation format in excel GSTR-1 reconciliation in excel Practice file : Click on link - File - Download - Xlsx Reco Sheet : https://docs.google.com/spreadsheets/... Sales Register : https://docs.google.com/spreadsheets/... GSTR-1 Data : https://docs.google.com/spreadsheets/... Download GSTR-1 :    • How to download GSTR 1 from GST portal in ...   What is GST Reconciliation? Reconciliation of GST returns and Matching concepts under GST are not new to any taxpayer. The process has been carried forward from earlier VAT and excise law. Back then, matching of data between the books of accounts and tax returns was an easy task for many business organizations. If the department on processing the returns found some discrepancy, communications would be sent to the taxpayer and accordingly further scrutiny and audits would be carried out by the authorities. But in GST, this process has gained significance as the sanity of the Input tax credit utilized by businesses is monitored by the GST authorities regularly. Under GST, the taxpayers must on a regular basis reconcile their data every month with the data declared by its vendors too. The return filing and processing are semantically automated, and the GST returns are inter-linked. Common errors during GST reconciliation There can be several causes for mismatches such as: The vendor has declared liability, but credit is not availed in GST returns: Any left-out credits should be availed at the earlier of the due date of September returns or Annual returns. Non-declaration of liability on supplies by the vendor, but businesses have availed credit on such procurements in the GST returns : Businesses should follow up with the vendor to ensure that the liability is declared. Otherwise, risks of such credits being disallowed may arise. Differences between liability declared by the vendor and credit availed: The reasons for differences should be identified and reconciled appropriately (e.g. by servicing debit notes/credit notes etc.) before 30 September 2018. Errors in the details furnished: There can be a mismatch in the fields such as GSTIN of the supplier/recipient, number and date of the invoice/debit note etc. Make amendments in the GST returns of the month following the relevant month when mistakes were committed.