Gst reconcilation
This query is : Resolved
16 May 2018
Hello everyone,
Nitin Here! Kindly can anyone help me out how to reconcile GST amount as per books as well as GST return.
Month wise or annually statement.
Nitin Here! Kindly can anyone help me out how to reconcile GST amount as per books as well as GST return.
Month wise or annually statement.
16 May 2018
Currently reconciliation is not happening in the GST portal. No statement of reconciliation is available in GST portal.
The reconciliation of outward supplies, input tax credit, RCM tax paid etc need to be reconciled on monthly basis. The details furnished in Form GSTR-3B, GSTR-1 to be reconciled with the books of accounts. In case of any mismatch the reason can to be captured in excel for clarity. Through consolidation of monthly reconciliation data, you can get for the year as well but vice versa not possible. Therefore, it is better to do monthly reconciliations.
The reconciliation of outward supplies, input tax credit, RCM tax paid etc need to be reconciled on monthly basis. The details furnished in Form GSTR-3B, GSTR-1 to be reconciled with the books of accounts. In case of any mismatch the reason can to be captured in excel for clarity. Through consolidation of monthly reconciliation data, you can get for the year as well but vice versa not possible. Therefore, it is better to do monthly reconciliations.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
