Error code v2src27 and v2src28
This query is : Resolved
26 April 2016
How to resolve these errors as in our return it is showing diffrential of Rs.14 and Rs.1 in second error as mentioned above
27 April 2016
What are the errors about - details please. The error of Rs.1 can be ignored as the same may have arisen due to rounding of calculations.
Detailed narration regarding Error code V2SRC 27 is sought for full advise.
Detailed narration regarding Error code V2SRC 27 is sought for full advise.
21 July 2024
The error codes V2SRC27 and V2SRC28 in the GST system typically relate to mismatches or discrepancies found during the validation of data between the GSTR-1 (Outward Supplies) and GSTR-3B (Monthly/Quarterly Return) filings. Here’s how you can approach resolving these errors:
### Understanding Error Codes:
1. **V2SRC27**: This error generally indicates a mismatch between the values reported in GSTR-1 and GSTR-3B for a particular period. It could occur due to differences in tax liability or input tax credit (ITC) claimed between the two returns.
2. **V2SRC28**: This error usually signifies a minor difference in the values reported in GSTR-1 and GSTR-3B, often less than Rs. 10.
### Steps to Resolve:
1. **Review GSTR-1 and GSTR-3B Data**: Compare the data reported in GSTR-1 (Outward Supplies) and GSTR-3B (Monthly/Quarterly Return) for the relevant period where the errors have occurred. Look for discrepancies in taxable values, tax amounts, and ITC claimed.
2. **Identify the Differences**: Specifically, focus on the details where the discrepancies of Rs.14 (in case of V2SRC27) and Rs.1 (in case of V2SRC28) have been noted. Check line items such as taxable value, tax amount (CGST, SGST, IGST), and any adjustments made in either return.
3. **Rectify Errors**: Once you have identified the discrepancies:
- If the error is due to an under-reporting or over-reporting of supplies or tax liability, amend the figures in the appropriate return (either GSTR-1 or GSTR-3B) to align with the correct values.
- Ensure that the figures reported in GSTR-1 match with the figures reported in GSTR-3B after making necessary corrections.
4. **Reconcile GSTR-1 and GSTR-3B**: After making amendments, reconcile the revised GSTR-1 and GSTR-3B to ensure all numbers are consistent and accurately reflect your business transactions for that period.
5. **File Corrected Returns**: Once the discrepancies are resolved and you have reconciled the returns, file the corrected GSTR-1 and GSTR-3B on the GST portal.
6. **Monitor Future Filings**: Take steps to prevent such discrepancies in the future by ensuring that data entered in GSTR-1 matches with GSTR-3B before filing.
### Additional Tips:
- **Use GST Helpdesk**: If you encounter difficulties in identifying the root cause or rectifying the errors, you can reach out to the GST helpdesk for assistance. They can provide specific guidance based on your GSTN details and the nature of the errors.
- **Maintain Documentation**: Keep detailed records of your transactions and GST filings to facilitate easier reconciliation and troubleshooting in case of discrepancies.
By following these steps, you should be able to resolve the errors V2SRC27 and V2SRC28 in your GST returns and ensure compliance with GST regulations.
### Understanding Error Codes:
1. **V2SRC27**: This error generally indicates a mismatch between the values reported in GSTR-1 and GSTR-3B for a particular period. It could occur due to differences in tax liability or input tax credit (ITC) claimed between the two returns.
2. **V2SRC28**: This error usually signifies a minor difference in the values reported in GSTR-1 and GSTR-3B, often less than Rs. 10.
### Steps to Resolve:
1. **Review GSTR-1 and GSTR-3B Data**: Compare the data reported in GSTR-1 (Outward Supplies) and GSTR-3B (Monthly/Quarterly Return) for the relevant period where the errors have occurred. Look for discrepancies in taxable values, tax amounts, and ITC claimed.
2. **Identify the Differences**: Specifically, focus on the details where the discrepancies of Rs.14 (in case of V2SRC27) and Rs.1 (in case of V2SRC28) have been noted. Check line items such as taxable value, tax amount (CGST, SGST, IGST), and any adjustments made in either return.
3. **Rectify Errors**: Once you have identified the discrepancies:
- If the error is due to an under-reporting or over-reporting of supplies or tax liability, amend the figures in the appropriate return (either GSTR-1 or GSTR-3B) to align with the correct values.
- Ensure that the figures reported in GSTR-1 match with the figures reported in GSTR-3B after making necessary corrections.
4. **Reconcile GSTR-1 and GSTR-3B**: After making amendments, reconcile the revised GSTR-1 and GSTR-3B to ensure all numbers are consistent and accurately reflect your business transactions for that period.
5. **File Corrected Returns**: Once the discrepancies are resolved and you have reconciled the returns, file the corrected GSTR-1 and GSTR-3B on the GST portal.
6. **Monitor Future Filings**: Take steps to prevent such discrepancies in the future by ensuring that data entered in GSTR-1 matches with GSTR-3B before filing.
### Additional Tips:
- **Use GST Helpdesk**: If you encounter difficulties in identifying the root cause or rectifying the errors, you can reach out to the GST helpdesk for assistance. They can provide specific guidance based on your GSTN details and the nature of the errors.
- **Maintain Documentation**: Keep detailed records of your transactions and GST filings to facilitate easier reconciliation and troubleshooting in case of discrepancies.
By following these steps, you should be able to resolve the errors V2SRC27 and V2SRC28 in your GST returns and ensure compliance with GST regulations.
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