Excel utility for GSTR-2A Reconciliation and Reconciliation’s importance in GST.
Today reconciliation has become the most Important task to file accurate returns and later to compile GSTR 9 and GSTR 9C
There are Five types of reconciliation expected of us for the most accurate filing of GSTR 9 and 9C
1. GSTR 3B with books
it’ll provide differences in Output and Input which has to be reversed in future GSTR 3B with can be made using reconciliation sheet
2. GSTR 3B with GSTR 1
Now GST portal is Giving details of such differences some of such differences may be compensating differences due to errors in 3B
3. GSTR 1 with books
If Differences are observed here then we have to find out exactly in which invoice the difference occurred and amend the same in Further months Gstr 1 thus Requiring an Invoice wise reconciliation
4. GSTR 3B with GSTR 2A
Nowadays many clients are receiving notices for claiming Inputs higher in 3B than what is represented in GSTR 2A thus it’s prudent to make such reconciliation
5. GSTR 2A with books
This is the most humongous task as it requires Invoice wise reconciliation of all invoices and it’s difficult as the ERP doesn’t match all the invoices due to mistakes in the invoice number thus we need a probable matching excel sheet and gives differences about Invoices not available in Portal or Books or Differences in Values etc Thus providing an excel below.
In the end, each of reconciliation has to be reported in GSTR 9 or 9C Wheather in DRC 03 or 8C or Part v of GSTR 9 etc
Thus making a self-assessment rather than an Authority induced assessment of Returns and New Returns are making mandatory for such reconciliation.