The form GSTR-2 is for businesses and registered taxable individuals who are required to provide their details for their inward supplies. Inward supplies mean all the purchase transactions made by the business or the individual in the stipulated period (mostly one month) and include purchases on which reverse charges (buyers have to pay GST) apply.
The form comprises of multiple tables, in each table the individual or the business has to provide various details. The due date of filing for July and August are yet to be declared, and from the quarter Oct-Dec 2017, businesses with output turnover up to Rs 1.5 crores can pay taxes quarterly.
How to reconcile Tally Data with GST Portal?
To file the form GSTR-2, the business or the individual concerned has to match all the purchase invoices using Tally ERP 9 Release 6.0 and can check for errors and omissions, if any. The data than generated is used to create an excel file, which contains the required invoices.
One needs to remember to use the excel file which is provided along with the utility to prevent errors messages. Also, one has to remember that almost all the data required for GSTR-2 are auto-populated from data from GSTR-1 and GSTR-2A files, so one has to ensure that all the data supplied match with each other, avoiding any discrepancies.
One should try to ensure the fact that the Excel format should be according to the samples provided by GSTN via the offline utility downloader folder. Now using the GST portal, one has to upload the excel file containing all the invoices to the database. One can add, modify, reject invoices if they have any errors or any data omitted from them if there is any.
And if any transaction made takes place between two different time periods of filing, then the invoice or record concerned can be marked “Pending” and will be added to the invoices and data for next month. Other than uploading all the invoices, one has to fill up the form for GSTR-2, which contains 13 tables, each requiring a different set of data.
For the form, one can prepare beforehand by entering the data a copy of the excel sheet with a suitable name, which can be kept at hand while filling up the form. After everything is done, the form and the invoices can be submitted using the GST portal.
This is how Tally data can be reconciled effortlessly with the GST portal for GSTR-2 for uploading all the data required for GSTR-2 and thus continue their business in a hassle-free manner.