Reconciliation Between Books and GST Portal and Adjustments in GSTR-9 Annual Return
As we know that Reconciliation is most important part of GST. Without Reconciliation between Books and Portal, we can not determine how much tax is required to be paid/ how much ITC is required to be claimed in next year’s returns. Reconciliation also enable us to make proper adjustments in relevant tables of GSTR-9.
To ease our Reconciliation process, I have prepared two examples which will guide us about how to reconcile books with GST Portal and also how to make relevant adjustments in GSTR-9. Examples can be downloaded by clicking below hyperlinks :
There is one more point in Example-1 which is mentioned below :
If you have applied for refund of overpaid output tax then write off only in the year in which refund rejected, otherwise this amount will be adjusted from refund received.
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