The document required to produce by the taxpayer before the Commissioner
under this act.
- a- Sales register
- b- Stock register
- c- Input tax credit and their utilization
- d- Output tax paid and payable
- e- and expenses register
- f- E invoices and INR generated
- g- E-way bills generated during the period under audit.
GST Reconciliation is a process where two set of the data entries, which is
furnished by the taxpayer on the GST portal
With the real sales and purchases which is shown in the books of account to
check whether the date is correct or not.
It is done to rectify unintentional errors or mistakes and to ensure correct
claiming of ITC for invoices issued in the financial year. And the other main
importance of GST Reconciliation is the avoid any mistake in the filling
returns.
Some other importance of GST Reconciliation are as follows-
- a- ITC claims
- b- Identifying the problems
- c- Avoid duplicity.
- d- Prevention from notices and penalties.
GST Reconciliation is done through an software GST Reconciliation which provides
various benefits to business.
Some of the benefits are as follows-
- a- Automation
- b- Real time data
- c- Minimize error
- d- Matches error
- e- Audit trial
