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November 5, 2020

Matching Tool: Availing correct ITC on GST Portal made easier

by CA Shivam Jaiswal in GST

Matching Tool: Availing correct ITC on GST Portal made easier

GST not only requires regular monitoring by tax department but also necessitates monthly reconciliation by taxpayers most. The GST forms reconciliation has to be done between taxpayer return data and data declared by vendors. The process is automated and semantically links GST returns with vendor declarations

Matching tool for comparing invoices auto-populated in GSTR-2B with books of accounts (Purchase register)

Follow the simple steps :

  • Import GSTR-2B & Purchase register (in prescribed format) into the Matching tool
  • Matching tool compares values at invoice level for the following fields
    • GSTIN
    • Type of document (invoice, debit note, credit note)
    • Document number
    • Document date
    • Taxable value
    • Tax amount (total)
    • Tax amount (head-wise)
  • Download mismatch details from the Matching tool & make necessary corrections

Compare GSTR-2B with purchase register and identify mismatch/invoices not uploaded by your supplier.

Matching tool for comparing invoices auto-populated in GSTR-2B with books of accounts (Purchase register)

De-Linking of Credit & Debit Notes from Original invoice in GSTR-1 & GSTR-6

  • Reporting of credit and debit notes de-linked from the original invoice on the GST portal, as per amended section-34
  • Changes applicable to all tax periods, including previous periods for which GSTR-1 or GSTR-6 are not filed till implementation of the change
  • Now, reporting of original invoice details no longer required for reporting credit and debit notes on the GST portal.
  • Necessary changes also made to offline utilities and refund statements

Navigate to:  GST Portal > Downloads > Office Tools

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