How to do GST reconciliation correctly?

[Valentina]

Need help with GST reconciliation between returns and books.

 

[liam]

Begin by lining your books to GSTR-1, GSTR-3B and GSTR-2B line-wise, that is, check sales, ITC and tax paid. Any mismatch? Determine the cause (time, missing invoice, incorrect GSTIN) and correct it on the following return.

 

[Olowricha]

In order to be able to do GST reconciliation:

• Extract Data: Purchases and sales Download GSTR-2B and GSTR-1 on the portal.
• Match: Compare them with purchase/sales registers that you made with invoice numbers, dates and GSTINs.
• Identify:Taxable Value or ITC spot mismatches.
• Action Flagged: invoices to vendors not received and corrected internal invoice errors in the following return.

 

[Ynessira]

GST reconciliation is done by matching your sales, purchase, and tax data with GST returns (GSTR-1, GSTR-3B, and GSTR-2B). Compare invoices, taxable values, and ITC amounts, identify mismatches, correct errors in returns, and ensure all eligible credits are claimed. Regular monthly reconciliation avoids notices and penalties.