GST Data Mismatch

Data matching is required as part of the process when you file GST reports. If Data Mismatch occurs, GovReports users can easily access the transactions from Data Matching Centre on the platform to identify the mismatched items and correct from its source.

A reported data is considered as mismatching when it fails to match with the original data filed with GSTN. This is when the service provider issues the tax invoice and files it with GSTN for the supply of goods or services to the buyer. If the buyer is a business tax payer and is registered for GST, the tax payer needs to post the purchase details in his books based on the tax invoice received for the goods or services received. This purchase bill can be filed with GSTN, by the buyer. As the supplier tax invoice details and the buyer bills are available for both the buyer and seller from GSTN. When there is a mismatch in the data of sales and or purchase activities, the transactions will be classified as a mismatch..

For the reporting purpose, the taxpayer must submit all his outward supplies for a particular month on the 10th day of the following month. Similarly, all inward supplies need to be filed on the 15th of the following month. By filing inward or outward GST data, both the suppliers and receivers have mirroring data of their transactions available with GSTN.

GSTN arrays the data in such a way that any registered GST taxpayer can access to the information filed to them as well as the counter party filed data. Matched and mismatched items are separated and will be available for the concerned parties to sort it out.

GST Data are matched when both outward supplies and inward supplies are filed and set with GSTN without option for change. This means, from 16th of each month onwards, the mismatched items can be identified clearly and corrected by the erring end. As the corrections are adjusted, the mismatched items’ status will automatically change to matched items and making the working GST Report ready for electronic filing.

Data matching is required as part of the process when you file GST reports to the Government.

At GovReports, Data Mismatch can easily be identified and accessed for correction.

For more information, please go to www.govreports.co.in or contact us on email at info@govreports.co.in

Suitable for Accounting or Erp system that do or do not have Gst Reporting and electronic filing capability. Talk to your Tax Return Preparer today and connect to them via GovReports. http://govreports.co.in/Business.html