Scribd
Upload
65 views14 pages

GSTR 3B Vs GSTR 1 Tax Comparison Report 2

The document discusses the need to reconcile GSTR-3B and GSTR-1 returns due to mismatches totaling thousands of crores found in GST collections. Reconciliation is important to ensure accurate tax payments and claims for input tax credit. The reconciliation must also be done when filing annual returns to avoid improper disclosures. Common reasons for mismatches include incorrect classification of supplies and amendments made between the two returns. The document then describes ClearTax's GSTR-3B vs GSTR-1 comparison report which allows users to easily view, download and address differences in their returns.

Uploaded by

Mani Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
65 views14 pages

GSTR 3B Vs GSTR 1 Tax Comparison Report 2

The document discusses the need to reconcile GSTR-3B and GSTR-1 returns due to mismatches totaling thousands of crores found in GST collections. Reconciliation is important to ensure accurate tax payments and claims for input tax credit. The reconciliation must also be done when filing annual returns to avoid improper disclosures. Common reasons for mismatches include incorrect classification of supplies and amendments made between the two returns. The document then describes ClearTax's GSTR-3B vs GSTR-1 comparison report which allows users to easily view, download and address differences in their returns.

Uploaded by

Mani Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 14

GST with

GSTR-3B vs GSTR-1 Tax


Comparison Report
Why is the reconciliation required?
It is important to reconcile form GSTR – 3B and Form GSTR – 1 on account of the following
reasons:
● The total GST collections disclosed at the end of the year 2017-18 showed a
mismatch of several thousand crores. GST authorities have issued show-cause
notices to a large number of taxpayers asking them to reconcile the total of sales
disclosed in the GSTR-3B summary return and the detailed GSTR-1 return.
● Reconciliation ensures that no invoice is omitted or recorded more than once in
either of the returns.
● This ensures a taxpayer to arrive at an accurate amount of output tax payable on the
sales made in a period.
● Any late declaration of GST liability can also attract interest.
● Reconciliation would also help the Government to allocate the right share of tax
revenue to the concerned states. This reconciliation is specifically useful to identify
any errors that have been made when entering the details of integrated taxes while
filing GSTR-3B.
● GSTR-1 forms the base for the recipients of supplies to claim input tax credit while
filing their returns. Hence, a timely and accurate declaration in both GSTR-1 and
GSTR-3B is necessary, to avoid hassles with recipients at a later date, and also
ensure that only genuine input tax credit can be claimed.
Reconciliation at the time of filing of Annual return
At the time of filing an Annual return in Form GSTR – 9, a reconciliation of outward supplies
is a must to ensure that the details disclosed match the details disclosed in GSTR-1 and
GSTR-3B, across all months. Details of tax paid during the year need to be mentioned as well
and this must tally with the total taxes disclosed and paid in GSTR-3B. Therefore, it is
important that GSTR-1 and GSTR-3B match as the return-filing system is integrated and a
mismatch between the same could result in improper disclosure in the annual return.
Reasons for mismatches in GSTR-3B vs GSTR-1
The following are the reasons for the mismatches in GSTR-3B vs GSTR-1:
● Reporting of supplies under the wrong table in GSTR-3B, but correctly reporting the
same when declaring it invoice-wise in GSTR-1. For example: Reporting zero-rated sales
correctly in Table 6A of GSTR-1, but incorrectly reporting it under Table 3.1(a) in
GSTR-3B.
● Issue of an invoice in a particular month, and issue of a debit or credit note at a later
date could lead to mismatches.
● Inter-state supplies made to unregistered persons omitted in GSTR-3B but declared in
GSTR-1.
● Value of supplies correctly shown but tax paid under the wrong head. For example, IGST
instead of CGST & SGST or vice- versa.
● Supplies that may have been amended after GSTR-1 has been filed. In other words, any
change of tax liability between the time of filing GSTR-1 and GSTR-3B.
● The time difference in reporting of invoices in GSTR-1 and GSTR-3B.
Advantages of ClearTax GSTR-3B vs GSTR-1 Tax Comparison
Report
● Download GSTR-1 and GSTR-3B anytime across months to start comparing data.
Verify GST login once using OTP, and continue to easily update data in a click, anytime
and anywhere.
● Check the difference for every field such as outward tax, outward taxable value,
supplies under RCM in both returns, etc.
● Data comparison at a PAN and GSTIN level is available.
● Know the differences instantly at a monthly, quarterly, or annual level, to take
further action.
● Showing additions & amendments done in the different months separately.
Steps to use the GSTR-3B vs GSTR-1
Tax Comparison Report
’Login’ to ClearTax GST --> Select ‘Business’ --> Click on ‘Reports’ --> Select 'All Reports’
Select ‘GSTR-3B vs GSTR-1 Tax Comparison Report’ & Click on ‘View’
Select the ‘Period’ → Click on ‘Refresh data from GSTN’ to pull data from GSTN. The
yearly data from the GSTN will be fetched after verification via OTP-based Login
credentials
Scroll down to view the GSTR-3B v/s GSTR-1 Tax Comparison Report.
You can now easily compare the data in the GSTR-3B & GSTR-1
You can also download the report in excel format by clicking on ‘Download report in excel’ to
use and share the report in excel form
Thank You!
Login | Follow
For any queries, contact us:
Write to: [email protected] or Call us on:080-67458707

We are happy to assist!

You might also like