The Goods and Service Tax Network (GSTN) has enabled a new functionality in the GST Portal “Comparison of Liability declared and Input Tax Credit claimed”. Therefore, the following are the advantage of this new functionality are as hereunder:-
- The statement is called as Credit and Liability Statement.
- Comparison of Tax liability as per GSTR-1 Vs Tax liability as per GSTR-3B.
- Comparison of ITC claimed in GSTR-3B Vs accrued as per GSTR-2A.
- Comparison of ITC credit claimed and due, i.e. ITC claimed in GSTR-3B during the month [as per table 4A(3)+4A(4)+4A(5)+4D(1)+4D(2)-4B(1)-4B(2)] Vs ITC auto-populated in GSTR-2A during the month [as per Part-A, PART-B].
- Comparison of Liability due under Reverse Charge, i.e. Liability declared in GSTR-3B during the month [as per table 3.1(d)] Vs Amount auto-populated in GSTR-2A[as per Part-A].
- Comparison of Liability due to Export and SEZ Supplies, i.e. Liability declared in GSTR-3B during the month [as per table 3.1(b)] Vs Liability declared in GSTR-1 (Zero rated supplies) [as per table 6A, 6B, 9A, 9B, 9C].
Note: The above comparisons can easily be downloaded in Excel csv format.
#Source GSTN Portal