How to Reconcile GSTR-2A directly from TallyPrime?admin_logicfusion
Is reconciliation of GSTR-2A with books of accounts a hectic process? Probably not! Though there are a lot of utilities or software available, the reconciliation can be done from Tally itself.
Before getting into the steps to reconcile GSTR-2A with Tally, it is crucial to know the meaning of GSTR-2A.
What is GSTR-2A?
It is a return that is generated automatically on the GST portal. All the information from GSTR-1 uploaded by the supplier is captured in this return. The most important fact to keep in mind is that it is a purchase-related IT return and not sales-related.
E.g. If A sells goods of Rs 20000 on which GST is leviable at the rate of 12%, the same GST would be reflected in the purchaser’s GSTR-2A when the seller uploads GSTR-1 return. The purchaser can claim input tax credit at the time of sales.
Why is it important to reconcile GSTR-2A with books of accounts?
Reconciliation is done to make sure that inputs are being claimed correctly. Short input taken will result in a loss to the supplier, whereas input claimed in excess will penalize such person. Also, GSTR-2A has to be reconciled with GSTR-3B, which will highlight the differences, if any, between the auto-generated return and the uploaded return.
How to reconcile the mismatch of the Input tax credit in GSTR-2A in Tally itself?
The steps are divided into 2 parts for simplicity.
Part-1 Downloading JSON File.
- Login to the GST portal using Login id and password. Head over to the Returns dashboard.
- Then select the financial year for which you want to reconcile. Hit the search button.
- Click on download GSTR-2A. This is located under the heading “Auto drafted details(For view only)”
- Click on Generate Json file to download
- Do note that this would not be downloaded immediately. You need to wait for around 20 minutes for the JSON file to available.
- Once processing is done, you will find an option to download. Download the JSON file. It will come in a zipped format. The first part is completed.
Part-2 Reconciliation in Tally
- Head over to Gateway of Tally>Display>Statutory reports>GST>GSTR-2
- Now select the financial year (same as JSON file) by pressing Alt+F2
- Press Alt+L to load the file. Provide the file address after which a dialog box will appear. The dialog box will display the message, “File loaded successfully” along with the total number of invoices.
- The box will also ask you to select Yes or No option. Hit the No option for comparison.
- The blue letters are for details from the downloaded JSON File. Black is for books of accounts as per tally. Hit Alt+A to view reconciliation status.
- The status is divided into four respective parts
- Fully matched: Where the amounts are fully matched, and no discrepancies are found.
- Partially matched: Where there is an amount mismatch, but the corresponding parties exist in GSTR-2A as well as Tally.
- Available only in books: Where the parties are found in books only, but not in GSTR-2A. This indicates that the supplier had missed out on the purchaser while filing his return.
- Available only in the portal: This indicates that some entries might not have been recorded in the books against purchases made. This will call for the rectification of books.
- You can access the details by heading into each one of the statuses separately by pressing Enter and hitting F1: Detailed.
JSON files are of great utility when GSTR-2A reconciliation is concerned. Alternatively, GSTR-2A can be downloaded in excel format if you want to see the bill-wise details for each month.