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The new Simplified GST filing system is expected to be approved by the GST Council in its next meeting. Concept of invoice matching continues.

CURRENT FILING PROCESS

  1. Seller to upload invoice details in GSTR-1 within prescribed due dates
  2. Buyer to download invoice details uploaded by seller (in Form GSTR-2A)
  3. Buyer to reconcile the GSTR-2A details with ERP purchase register
  4. Buyer to take action (Accept/reject/modify) on GSTR-2A invoices.
  5. Buyer also has option to upload invoices if not uploaded by vendor – this activity is done by buyer through filing of monthly GSTR-2 within prescribed due dates.
  6. Seller and buyer to file monthly GSTR 3/3B to disclose liability, credits and pay taxes
  7. GSTN to perform reconciliation of data uploaded by buyer and share mismatch report
  8. Seller and buyer to take relevant action on the mismatch invoices.

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PROPOSED FILING PROCESS

1. Seller has option to upload invoices on real time basis
2. Buyer can view the invoices uploaded by multiple sellers on the portal
3. Buyer to accept the invoices to claim Input Tax Credits
4. Seller to disclose output liabilities in GSTR-3B based on invoices uploaded
5. Input Tax Credit to be restricted for the buyer in GSTR-3B to the extent of invoices accepted
6. Buyer to claim credit / report transaction w.r.t unregistered suppliers / RCM in GSTR-3B
7. Buyer would not have option to claim Input Tax Credit for any invoice not uploaded by seller
8. GSTN would not perform any reconciliation for the data uploaded as ITC restricted to invoices accepted.

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  • Prepare and file all your GSTR-3B & 1 in a single login
  • Single click upload from Excel, Tally, etc…
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