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GST Report & Reconcile

GST Report Feature in Accounting or ERP Software

A GST Report feature in accounting or ERP software is designed to simplify GST compliance by automating the generation, reconciliation, and filing of GST returns.

Report

Key Functions of GST Report Feature

The GST (Goods and Services Tax) report and reconciliation process ensures compliance with tax regulations, accurate filing, and avoidance of penalties.

Automated GST Calculation

  • Automatically calculates GST payable on outward supplies (sales) and input tax credit (ITC) on inward supplies (purchases).
  • Categorizes transactions based on tax slabs (e.g., 5%, 12%, 18%, etc.).

Reconciliation Tools

  • Matches your purchase records with GSTR-2A/2B data from the GST portal.
  • Identifies mismatched, missing, or duplicate invoices.
  • Provides real-time discrepancy alerts for unresolved differences.

Return Preparation

  • Prepares GST return formats (e.g., GSTR-1, GSTR-3B, GSTR-9) in line with GST compliance requirements.
  • Generates reports for:
    • Outward supplies.
    • Input tax credit summary.
    • Reverse charge liabilities.
    • Exempt and zero-rated supplies.

Filing Assistance

  • Integrates with the GST portal to allow direct filing of returns.
  • Generates JSON files for uploading returns if the filing is done manually.
Key Features

A GST report summarizes your GST liabilities and input tax credits for a specific period (monthly, quarterly, or annually) as required by your jurisdiction. It includes:

Sales and Purchase Registers

  • Maintains detailed records of sales and purchases with tax-wise bifurcation.
  • Tracks invoices by GSTIN, invoice number, and filing status.

Tax Category Customization

  • Supports different tax rates and categories like CGST, SGST, IGST, UTGST, and Cess.
  • Configurable for location-specific taxes.

Input Tax Credit (ITC) Tracker

  • Tracks eligible and ineligible ITC based on:
    • Invoice data.
    • Vendor filing status in GSTR-1.
    • Reverse charge mechanisms.

Data Import and Export

  • Import sales and purchase data from Excel, CSV, or ERP systems.
  • Export GST reports in formats like JSON, Excel, or PDF for review and filing.

Benefits of GST Report

The inventory management process is highly efficient, flexible, and customizable. It allows businesses to handle their inventory operations seamlessly, whether for a warehouse, retail store, or manufacturing unit.

Real-Time Visibility

View live inventory levels and product movements

Efficiency

Streamline warehouse operations with automation and smart routing

Scalability

Handle multi-warehouse and multi-location operations effortlessly

Call to Action

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