Hello Friends, I have received good reviews for my last article from members. So from your good support, today I am writing my second article. Hope it will be useful to all of you. As we all know that GST was implemented from 1st July 2017 and many of our clients have started to prepare the Financial Statements for the year ended 31st March 2018.
During the audit, we have to reconcile the statutory dues in books with return filed. In case of any discrepancy found will be reported to management and thereafter will be corrected. For Reconciliation of Output Tax, Input Tax and Payment of GST with books and return, I have prepared a simplified format. You can find out the differences by entering value from GSTR-3B return and books. Please find the enclosed herewith this sheet.
Your comments and suggestions are highly appreciated.