Streamline Your GST: Key Reconciliations and Automation Techniques
By CA Geetika Sethi, Tax Expert | May 14, 2024
A seasoned Chartered Accountant with experience over 6+ years in Compliance, Business Analysis and Product development in the domain of Indirect Taxation/GST with experience in GST implementation, Compliances , refund application, conducting GST audit and other related issues of indirect taxation
About the Webinar
The implementation of GST has seen numerous changes, increasing its complexity with each financial year. The intensified scrutiny and stringent regulations necessitate high accuracy in business reporting, making reconciliation processes critical. Discrepancies in GST returns can trigger severe consequences, including scrutiny notices and potential suspension of GST registration. Thus, reconciliation under GST is not merely routine but crucial for correcting tax discrepancies, whether underpaid, overpaid, or unpaid. While seemingly straightforward, GST reconciliation is a resource-intensive task. For instance, businesses must constantly coordinate with vendors to correct filed returns and track Input Tax Credit (ITC) claims effectively. In contexts where companies handle thousands of transactions monthly, even a small error rate can translate into a large volume of corrections. Regular reconciliation of GST data is imperative. Join us for an in-depth webinar exploring the essential types of GST reconciliations and innovative methods to automate these processes, ensuring easy compliance.
Things we will discuss
Introduction to GST reconciliation
Objectives of regular & annual GST reconciliation
Types of GST reconciliation for Sales/Tax liability
Types of GST reconciliation for ITC claims & reversals
Importance of automation in GST reconciliation
How to automate GST reconciliation
Q & A
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