Tag: GST Reconciliation

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Updated on April 8th, 2019 in GST, GST Reconciliation

Reconciliation Between GSTR 3B and GSTR 1: Importance, Reasons and Actions

Reconciliation between GSTR 3B and GSTR 1 is a very important step as it helps you to reconcile the mismatches between them. However, not performing reconciliation between GSTR 3B and GSTR 1 can result in show cause notice from the GST authorities. Moreover, you may not be able to file accurate Annual GST Return due…

Updated on June 5th, 2019 in GST Reconciliation

What Everyone Ought to Know About GST Reconciliation?

What you know about GST Reconciliation is the most important part of GST Regime. Although, the GST Reconciliation is not a new topic for the taxpayer as the concept of reconciliation was present pre-GST too. However, under the GST Regime, the reconciliation process has earned a lot of traction. Let us see what does reconciliation…

Updated on April 2nd, 2019 in GST

List of Do’s and Don’ts under GST

GST was introduced almost two years back in India with the “One Nation One Tax” motto. While most businesses and professionals have synced with this revolutionary tax system, some are still struggling with it. Moreover, the government is constantly trying to give relief to the businesses and professional by providing new updates. However, there is…

Updated on March 27th, 2019 in GST Reconciliation, GST Software

The Hidden Issues with GST Reconciliation

The hidden issues with GST Reconciliation are similar to ignoring the daily chores. This might look ok in the beginning but after some time you start realizing the importance of it. For instance, if you do not bring groceries for a month, your groceries start getting out of stock. Similarly, not reconciling your purchase register…

Updated on April 1st, 2019 in GST

GST Suvidha Provider (GSP) Overview

GST Suvidha Provider (GSP) was first introduced and established by Goods and Service Tax Network (GSTN) to help the taxpayer to comply with the GST provisions. GSTN is a private company where the stake of the State governments is 24.5% and the Central government is 24.5% that makes 49% stakes collectively. The motive behind the…