We’ve assisted over 1000 enterprises like yours, save time and money with our award-winning GST Solution. Teams at Titan, Sun Pharma, Bosch, JKTyre, Puma, 3M, SBI Cards, BookyMyShow, Titan, DLF, Fujitsu, Bisleri, Manipal Hospitals, Treebo, Viacom 18 Media Pvt. Ltd. and more are already using ClearTax GST - The fastest and smartest way to file GST for your company.
Tally introduces at the leading GST Suvidha Provider with a powerful GST enabled accounting software. Are you ready for GST? KMPL is the leading certified 5 Star partner of Tally Solutions
GST in India - Impact Assessment & ImplementationNimish Goel
GST is proposed to be implemented in India from April 1, 2017 and it is important for companies to get an impact assessment done and understand the implications on their margins, cash flows, business processes and tax obligations. International Business Advisors (www.ibadvisors.co) is working with its clients to help transition to this new legislation.
Tally introduces at the leading GST Suvidha Provider with a powerful GST enabled accounting software. Are you ready for GST? KMPL is the leading certified 5 Star partner of Tally Solutions
GST in India - Impact Assessment & ImplementationNimish Goel
GST is proposed to be implemented in India from April 1, 2017 and it is important for companies to get an impact assessment done and understand the implications on their margins, cash flows, business processes and tax obligations. International Business Advisors (www.ibadvisors.co) is working with its clients to help transition to this new legislation.
Input tax credit & matching with return under gstNikhil Malaiyya
Input tax credit under GST, Matching with return under GST, Annual Return, Final Return, Monthly return, late filing fees under GST, Transitional Provision
The presentation consists:
Comparison of provision under ST and GST, Value of taxable supply, place of supply
Place of Supply _ GST
Taxable supplies
Bullion business vertical
Exempt services and supply
Analysis of Head wise Incomes earned by banks
Service Accounting Code
INPUT TAX CREDIT
List of common expenses & credit availability
How to Correct errors as Revision is not permissible
STOCK TRANSFER OF SERVICES_ ISD VS CROSS CHARGE
Some of the Grey areas
Migration to GST- Will a retailer get TAX Credit for the Excise duty?Piyali Parashari
As the GST date draws closer, retailers are worried about what to do with Stocks lying with them on 30th June 2017. Will they get credit for Excise Duty on these stocks? Also what steps are to be taken for being GST ready........
EXPLAINING ABT GST CLAUSE, RULES REGULATION
Executive Summary…………………………………………….1
i
Background of GST within and outside India
ii
Preparation for GST
iii
Need for GST
2
Objective of Study……………………………………………....9
i
Benefits and simplification of GST model in India
3
Scope of GST…………………………………………………...16
4
Literature Review……………………………………………...17
5
Research model………………………………………………...18
6
Data Collection………………………………………………...18
i
Dual GST model to be introduced in India
ii
GST Portal
iii
GST Registration, GSTIN
iv
Composition Dealer, Applicability
v
Migration to GST
vi
Penalties of not registering under GST
vii
Multiple Registration under GST
viii
Input tax credit
ix
x
GST software
GST rate comparison existing tax system v/s new tax system
7
xi
GST return procedure
Data Analysis…………………………………………..............37
i
GST calculation
ii
GST benefit to common man
iii
Impact of GST (Overall, On India, Indian Economy)
8
Negative List…………………………………………………...46
9
List of Tax not considered under GST……………………….48
10
Limitation (Why no to GST)………………………………….49
11
Conclusion……………………………………………………...51
12
Recommendation…………………………………………........53
One of the fundamental features of GST is the seamless flow of input credit across the chain and across the country for supply of Goods or Services. Know more about ITC under GST at https://cleartax.in/s/gst-input-tax-credit/
MM Infosystems is now providing GST ready ERP software for various business Including Manufacturing, Trading, Education, Real Estate, Jewellery and Service. Visit our website and get more detail about GST enabled software.
Input tax credit & matching with return under gstNikhil Malaiyya
Input tax credit under GST, Matching with return under GST, Annual Return, Final Return, Monthly return, late filing fees under GST, Transitional Provision
The presentation consists:
Comparison of provision under ST and GST, Value of taxable supply, place of supply
Place of Supply _ GST
Taxable supplies
Bullion business vertical
Exempt services and supply
Analysis of Head wise Incomes earned by banks
Service Accounting Code
INPUT TAX CREDIT
List of common expenses & credit availability
How to Correct errors as Revision is not permissible
STOCK TRANSFER OF SERVICES_ ISD VS CROSS CHARGE
Some of the Grey areas
Migration to GST- Will a retailer get TAX Credit for the Excise duty?Piyali Parashari
As the GST date draws closer, retailers are worried about what to do with Stocks lying with them on 30th June 2017. Will they get credit for Excise Duty on these stocks? Also what steps are to be taken for being GST ready........
EXPLAINING ABT GST CLAUSE, RULES REGULATION
Executive Summary…………………………………………….1
i
Background of GST within and outside India
ii
Preparation for GST
iii
Need for GST
2
Objective of Study……………………………………………....9
i
Benefits and simplification of GST model in India
3
Scope of GST…………………………………………………...16
4
Literature Review……………………………………………...17
5
Research model………………………………………………...18
6
Data Collection………………………………………………...18
i
Dual GST model to be introduced in India
ii
GST Portal
iii
GST Registration, GSTIN
iv
Composition Dealer, Applicability
v
Migration to GST
vi
Penalties of not registering under GST
vii
Multiple Registration under GST
viii
Input tax credit
ix
x
GST software
GST rate comparison existing tax system v/s new tax system
7
xi
GST return procedure
Data Analysis…………………………………………..............37
i
GST calculation
ii
GST benefit to common man
iii
Impact of GST (Overall, On India, Indian Economy)
8
Negative List…………………………………………………...46
9
List of Tax not considered under GST……………………….48
10
Limitation (Why no to GST)………………………………….49
11
Conclusion……………………………………………………...51
12
Recommendation…………………………………………........53
One of the fundamental features of GST is the seamless flow of input credit across the chain and across the country for supply of Goods or Services. Know more about ITC under GST at https://cleartax.in/s/gst-input-tax-credit/
MM Infosystems is now providing GST ready ERP software for various business Including Manufacturing, Trading, Education, Real Estate, Jewellery and Service. Visit our website and get more detail about GST enabled software.
With GST ready to be rolled out soon in the new year, it's time companies gear-up to be tax compliant and bring about the applicable changes in their supply chain and business structure. BatchMaster is all set with its GST add-on that can help you transit and comply seamlessly with the upcoming GST.
With GST ready to be rolled out soon in the new year, it's time companies gear-up to be tax compliant and bring about the applicable changes in their supply chain and business structure. BatchMaster is all set with its GST add-on that can help you transit and comply seamlessly with the upcoming GST.
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
GST India Software - Cloud ERP Software For SMEs
1. It’s a Destination based Tax – means based on the Customer
location, we need to pick that state Taxes, Cess etc
2. Place of Supply of Goods and Service is defined
3. Govt is focusing to collect more information per Invoice
including Product HSN Codes and Taxes applied per line items
4. Inter state Input tax credit is available now.
5. Taxable supplies to Include Inter and Intra State taxes
6. New things to note
1. Tax on removal of Goods for Stock transfer within State
2. Based on the duration Tax on Goods issued to Subcontractor (Inter and
Intra State) will be charged.
3. Complimentary and Free Samples are taxed
Souce: www.actouch.com
Apart from our core strength that helps you automate your business for growth, Tally is dedicated to walking the GST journey with you. Keeping in mind all the laws, the rules, and the intricacies that GST brings, you need a system that can ensure your business complies the way you need it to!
For the last 3 decades, Tally has continuously helped businesses achieve automation to fuel business growth. With GST being a technology-driven tax regime, Tally is already at the forefront to help business manage their compliance in the simplest possible way.
With the GST-ready product, Tally brings you unmatched simplicity and ease of use as you transition from the current taxation to the new world of GST.
Learn how Tally can help you get started on your GST journey in a few easy steps. As the GST technologies and rules mature, Tally will continue to stand by you and provide software updates to make compliance faster and easier.
end-to-end GST eco-system
We are shaping the future of GST. Today.
GST is going to simplify the current system of tax and we are making it simpler for you by building an end-to-end GST eco-system.
Reserve your login
One place for all your GST needs
One Stop for GST Returns
Input tax credits
System will calculate tax payable after checking
Input tax credit available from the Central GST System.
Returns
We will pin-point your supplier who has not filed his return
so that you do not lose your sleep over GST credits
One account
System is designed to help you manage multiple
registrations and clients from a single login
itelligence GST implementation
India is slated to adopt GST from Apr 1, 2017. Hence, businesses need to be technologically-ready
GST is a comprehensive indirect tax levied on Sale, Manufacture and Consumption of Goods and Services at the National level.
GST would apply to all goods other than crude Petroleum, Motor spirit, Diesel, Aviation Turbine fuel and Natural gas.
GST would apply to all services barring a few to be specified
Export and Direct taxes like Income Tax, Corporate Tax, Capital gains tax will not be affected by GST.
Imports will be subject to GST, but exports will be GST-exempt
Where the output is GST exempt, the GST paid on the input will be a cost to the business
The Conventional Performance of GST Reporting Tool GSTKeeper
The advent of the GST reporting tool is a blessing to the entire taxpayer’s community. And undoubtedly it will also help the government put a dead stop on the evasion practices in India.
Looking at the latest legislation to impact on AP and Finance teams in the UK. Making Tax Digital (MTD) for VAT. Includes a look at Global trends and how technology can help.
GST CAAT is an add in software to MS Excel which facilitates Automated Matching of GST Sales/Purchases from GST Portal with corresponding Sales/Purchases from Tally/Other SWTo Identify Matches or Mis-Matches and enable faster reconciliation and rectification.
Get an overview of GST in India. Know the basic definition of GST, taxes subsumed under it and how it basically works in India. Know the significance of GST tool.
In our latest webinar on e-Invoicing our in-house experts, CA Kunal Gandhi, Finance Controller and Lokesh Malhotra, Lead - Product Manager, explained the concepts and challenges of e-Invoicing. Further, covered how Open simplifies e-Invoicing while keeping your business tax compliant.
Key Insights from the webinar:
1. e-Invoicing under GST - Introduction and Timelines
2. How to create e-Invoices, Standard format, Schema, etc.
3. Debunking common myths around e-Invoicing
4. Advantages of e-Invoicing
5. Demo on Generating e-Invoices using Open
For more information, Visit : https://webinars.open.money/e-invoice/
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
6. 6
Sep 30
2018
Internal Audit/GST
Recon
Tech enabled platform
to automate Recon
Dec 31
2018
GSTR 9 and GST Audit
Solution to file GSTR9
and Complete GST
Audit
Mar 31
2019
New ‘Single Page
Return’
Cleartax will advice and
transition you- we
closely engage with
GSTN and on top of
new API and expected
changes
Anytime
Notice Management
Our BI Reports will help
eliminate/minimize
notices. We are here to
support and ensure
100% compliance
Cleartax will help you every step of the way
8. 8
S No. Process / Feature Issues on Government portal
1 Login You have separate logins for each GSTIN
2 Data Import
Customised excel template are not supported while importing data
3 Validation
Validation check is a difficult and tedious task. You have to use an offline
utility which also does not point out the errors.
4 Intelligent Reports No built-in Intelligence. Reports not available for Tax heads, CA’s or CFOs
9. 9
S No. Process / Feature Issues on Government portal
5 ClearTax Assistant Need for OTP for every Login to GSTN. OTP may not be with the
compliance team
6 Data Management B2B invoices more than 500 cannot be viewed online
7 Invoicing-cum-filing
software
You can only prepare (if invoices are handful) and file the return
8 Reconciliation Reconciliation between your purchases and your supplier’s
sales(GSTR2A) is not possible
10. 10
Feature 1 : Multi GSTIN Import
● With clients handling GST returns for
multiple GSTINs in a single PAN,
ClearTax introduced this feature to
help them upload data into ClearTax
for all / multiple GSTINs in one go
● Helps them reduce time and effort
effectively in preparing data
1. Click on
“Import An Excel
Now” on the
dashboard
2. Click here and
selecting the business
where you want to
import data
11. 11
Feature 2 : Access Control ● Data security is one of the most
important factors for any enterprise
● And at the same time to divide work
between team members is extremely
crucial
● And thus defining roles for each
member became a necessity
● ClearTax served them with a simple
solution of providing them with access
control based on the roles defined to
them
2. Fill in the
required details
and select the role
that you wish to
define for the
member
1. Click on More
(on the main
dashboard) > My
Team > Add
Another Member
Roles:
Account Admin: Has access to the entire
account
Business Admin: Has access to the
business assigned to them
GSTIN Admin: Has access to the particular
state assigned
12. 12
Feature 3 : Monthly Tax Summary Report
● Month on Month view for the top
management on the tax paid and ITC
taken by each of the GSTINs.
13. 13
Feature 4 : GSTR-3B vs GSTR-1 Report
● This enables clients to understand
the difference in the tax liability
which helps clients avoiding
penalty or Notice from GSTN
1. Click here to
refresh data from
GSTN
2. Data shows up
like this
14. 14
Feature 5 : Supplier Compliance report (GSTR 2A)
● Enabling all the clients to start the
reco of their ITC and purchases by
pulling the 2A report
1. Click here to
download data
from GSTN
15. 15
Feature 6 : GSTR 3B Vs GSTR 2A report
● Any excess ITC claimed can be
identified here for each month ,
thus ensuring that the clients are
prepared for any notice that comes
their way
1. Click here to
refresh data from
GSTN so as to
compare 3B vs 2A
16. 16
Feature 7 : Delete all data from GSTN
● Reduces time and effort by 20x
because clients face no hassle of
checking data by downloading
JSON and then deleting on offline
tool
1. Click on “Reset
from GSTN” and
upload the JSON
downloaded from
GSTN to delete
data from GSTN
17. 17
Feature 8 : Filing Dashboard ● Keeps a track of when the client
has uploaded data to GSTN portal
and also of when exactly filing was
done.
● Single dashboard maintaining all
this data
1. Click here to
check filing status
18. 18
Feature 9 : Upload with and without OTP
● Worry not, in case you don’t get the
OTP
● Uploading data to the GSTN portal
in 2 ways:
○ With OTP
○ Without OTP
1. Click here to
upload data to
GSTN portal
without fetching
OTPs
19. 19
Feature 10 : Validation check (before uploading to GSTN)
● ClearTax has multiple validation checks so that before you upload data to the GSTN
portal you are sure of the data you are uploading
For detailed validations list click here.
S No. Validation On Explanation
1. GSTIN Returns errors if wrong format or wrong GSTIN is entered
2. Date Returns errors if data format is wrong
3. Tax Amount / Rate Returns errors if IGST is charged instead of CGST/SGST and
vice versa
4. Invoice Number Returns an error if invoice number is more than 16 characters
5. HSN / SAC Code Returns an error if wrong HSN / SAC code is entered
20. 20
Feature 11 : ClearTax Assistant
● ClearTax Assistant - a feature with
which you can upload data to the
Government portal in just one click
1. Add this extension to
your browser and upload
data to GSTN without
checking logging into
GSTN again and again
22. 22
ClearTax ERP Integration
● Easy Integration using ERP connectors and FTP (Box).
● One time update of the data for pushing via API or box.
● Automated responses for any errors with the error codes.
● Support in building ERP connectors if required with partnerships with
System Integrators (SIs) throughput the country
Benefits of using ClearTax Integration :
● NO customization of the ERP Required.
● One click data transfer into ClearTax GST to enable filing.
● 10x faster and simpler than manual filing.
24. Am I Compliant?
Am I at Fault?
Can I make
more
money?
What is a taxpayer’s Concern?
There is a
supplier whose
Invoices I have
not considered
for ITC
There is a
Supplier where
I can claim
more ITC as
per invoices
Defaulters !
There are
suppliers who
never upload to
GSTN
There is a
Supplier where
I have claimed
more ITC than
permitted
25. What is the Current State?
● 34% Businesses have received notices for shortfall of ~35,000 Cr tax between
return periods of July-December 2017
● Currently GST Authorities have given a timeline of 10 days to justify the
discrepancy or pay the difference
● The law prescribes a 30-day timeline within which taxpayers should file their
replies, but jurisdictional officers are using their discretion to provide timelines
as short as three to five days
26. GST Way forward by GSTN
● Purchaser will not be able to Add / Modify invoices on Supplier’s Behalf !
● ITC can only be claimed if Supplier shows a Sale
● ITC cannot be claimed more than the invoices in GSTR2A
27. GST Recon Process S
U
P
P
L
I
E
R
S
Purchaser
GSTR2A
Resolution possible from
some internal resource
Resolution possible from an
external vendor / 3rd party
GSTN
28. Challenges while performing Reconciliation
● Invoice number does not match - seller and purchaser follow a different convention
● Invoice filed with different GSTIN by Purchaser - The purchaser may work in multiple states,
and the seller has raised invoice with another GSTIN/HQ GSTIN instead of the actual purchaser GSTIN.
● Invoice date does not match - date of recording invoices is different at both places.
● Multiple similar invoices between a purchaser and supplier where every invoice is of same value at
different dates and one of the parties has recorded invoices higher than the other.
● Collaboration to Resolve - If there are anomalies detected, it is difficult to collaborate with an
internal/external user to resolve
● The purchaser and supplier have recorded invoices in different return periods
● The invoice value from Supplier and Purchaser differs by a minor value because both parties have
different conventions of rounding off
29. ★ Recon at a multi GSTIN + Business Level
★ Matching Algorithm using Artificial Intelligence
★ Multi Month Reconciliation
★ Custom Configurations for Recon Algorithm
★ Collaboration with Internal & External Users
30. Claim More ITC Avoid Tax Notice
Problem : An Enterprise with a thin profit margin
business is able to claim limited ITC
Solution: ClearTax Reconciliation can enable
the enterprise to:
- Claim ITC from unaccounted suppliers
- Claim more ITC from existing vendors by
comparing invoices
Result: The finance team helped the Enterprise
to claim more ITC, directly delivering more
profits at an overall level in the thin margin
business.
Problem : An Enterprise has received scrutiny
notice following a tax liability mismatch
Solution: ClearTax Reconciliation can enable
the enterprise to:
- Identify defaulter suppliers who do not
report sales to GSTN
- Notify some suppliers to upload correct
invoices for matching liability
- Collaborate to resolve anomalies
Result: The finance team ensured working with
compliant vendors, resulting to avoid a Scrutiny
Notice
31. ★ Advanced Recon Engine (ARE) will reduce missing invoices to less than 10%
Sr
no
Rule GSTR 2A
Data
Purchase
register
Output
1 Remove leading zeros from Inv Number INV-01 INV1
All of the 5 examples will be
under suggested matches
via our ARE and will make
the recon a seamless
process
2 Removing all the special characters from the string INV/01 INV01
3 Pick the last special character and fetch all
numeric values after that
250 INV/17-18/250
4 Remove special character and character from
invoice field
INV/88/17-
18
88
5 On Inv Number
a) Remove String "GST" or 17/18
b)Remove Spl Chars
c) Trim Leading 0's
INV/GST-17-
18-00543
543
** We have set of more than 15 rules which has been built post multiple testing and enhancements.
34. 34
Top Features
Feature Impact on the Users
BOT Automation Generation of EWB even if the APIs are not available (Web Automation)
Branch/GSTIN level Access
Control
Here we give users access based on their location and hence the respective branches can take action
accordingly. Thus defining roles and maintaining data santy.
Filters and Downloads In the absence of reports, a lot of filters have been provided which can be used as reports in CSV
format within the product itself
Integration with Box and API Integration has been enabled a faster and easier way to generate the EWB. Though we have faced
huge challenges still most of our integrations have been successful
Transporter flow 3 Major updates to ensure that the our software becomes transporter useful :
● Bill to Ship to; Assign transporter ID
● Download of EWB assigned to transporter via API
● Consol EWB (next 2-3 weeks)
Auto compute of distance One of the big USPs where we have integrated with Gmaps API and we auto compute distance
Pass Through API for
Generation of EWB
One of the biggest requirement in big enterprises is they send data via API from ERP and we send back
the respose as EWB number or the error code. This is now enabled via pass through APIS
35. 35
Feature 1 : BOT Automation
Have 2 ways to generate e-way bills:
● Generation of EWBs even if the APIs
are not available (Web Automation)
● Generation of EWBs via APIs
1. Click here to generate
e-way bills using Web
Automation
2. Click here to
generate e-way
bills via API
36. 36
Feature 2 : Branch/GSTIN level Access Control
● Have multiple GSTINs added in a single
login with access to multiple branches
under that
● On the basis of which, you can also
assign different roles to team members
1. Click on More (on the main
dashboard) > Settings > Member
> Add Another Member
2. Fill in the required
details and select the
role that you wish to
define for the member
Roles:
Account Admin: Has access to the entire
account
GSTIN Admin: Has access to the GSTIN
assigned to them
Branch Admin: Has access to the
particular branch assigned
37. 37
Feature 3 : Filters and Downloads
● Lots of filters have been provided which
can be used to download CSV format
excels to download data
● Helps with bifurcation of data
1. Choose the filter that you wish
to put to bifurcate data
2. Corresponding data
show up accordingly
38. 38
Feature 4 : Transporter flow ● ClearTax supports E-way bills for transporters as
well
● Major updates to ensure that the our software
becomes transporter useful :
○ Bill to Ship to; Assign transporter ID
○ Download of EWB assigned to transporter via
API
1. Click here to use the
transporter flow
2. Click here to
download data from
NIC portal
39. 39
Feature 5 : Auto compute of distance
● A feature where we have integrated our APIs with
Gmaps APIs so as to auto compute distance
1. Based on pin-codes mentioned, that is supplier and
receiver pin-codes, we auto compute distance
40. Challenges Cleartax Solutions
Reconciliation between 2 & 2A Report We have a reconciliation software - ensure no
refunds as well as maximize credits
GSTR-9 Due in Dec Need to tally up all GSTR’s filed against P&L
statement. Cleartax building automated form
for the same, along with IDT Experts
Strict timelines, harder as volume grows
without automation. 10th and 20th of every
month
Notifications for deadlines, KAM to help ensure
ingestion of data from ERP and 100% filing
compliance.
Transitioning into new GST Regime Reports for 3B Vs 1 and 3B Vs 2A - Help in
transitioning into the new Single GST Return
40
Challenges specific to Compliance
Our product is centered around the core compliance piece
Additionally, Vendor reconciliation piece, a vendor management piece, Tax determination piece and ERP connectors truly make it a one-stop solution
Cleartax is by far the largest e-filing platform outside the government itself