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.
CA Padmasri Manyam
(Expert)
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.
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