The GST reconciliation process, in many cases, has few challenges like below. (1) It does not follow proper and timely entries in books due to the usage of various software.

Are you tired of the painstaking, manual process of GST reconciliation? Do you spend hours cross-referencing your GSTR-3B ITC data with GSTR-2B, trying to pinpoint discrepancies? What if there was a ...

GST reconciliation & the credit dilemma The issue of whether the recipient of services can be penalised for non-compliance by the vendor remains open and unanswered Written by Guest.

As India marks eight years since the implementation of the Goods and Services Tax (GST), the reform stands at a defining point in its trajectory. For businesses ...

GST laws have changed: Importance of reconciling more regularly In taxation, reconciliation is important because it can give rise to tax short paid, not paid or even excess paid.

T he Ministry of Finance has issued a notification relevant for Goods and Service Tax (GST) registered taxpayers who failed to file the annual reconciliation statement through the GSTR-9C form. As ...