GSTR-2X Reconciliation
Overview: GSTR 2X Reconciliation module helps in reconciliation the TDS and TCS credit received from your counterparty.
Benefits : Cygnet facilitates reconciliation which can help reconcile the invoices and file GSTR-2X return.
How to do GSTR-2X reconciliation : To access to the reconciliation, user need to navigate to Menu > GST > Regular Returns > GSTR-2X Reconciliation.
To download the data from GSTN , user can click on Reconciliation Actions > Download GSTR-2X from GSTN.
As the data is auto-synced from GSTN and SR is uploaded , system can reconcile the data. User need to select the source against which they want to reconcile their purchase records. User can filter for Type , Year , Month and Location for which they want to view the reconciliation.
System will reconcile the records based on the reconciliation criteria. Below are the different reconciliation buckets available.
Matched : In this section all the GSTR-2X records and uploaded data is matching exactly and will be available in Matched action. It can be filtered from Reconciliations > Matched.
Matched by Tolerance : Documents will be considered as match by tolerance if difference in Value, Taxable Value are within the specified range provided in settings.
Mismatched : In this section, It identifies the mismatches between SR and GSTR-2X after reconciliation. User will able to find the reason of mismatch in Reason field.
GSTR-2X only : When the TDS deductor/TCS collector has uploaded the data but not uploaded by you will be available in GSTR-2X only category.
SR Only : When the record has uploaded in SR, but the TDS deductor/TCS collectors has not filed then such records fall into SR Only category.
User can take action against single record or bulk records after performing reconciliation. To take bulk action , user need to navigate to More Actions > Bulk Actions.
User can select the actions against reconciliation section and click on Apply Bulk Action.
To download the reconciliation user can click on Actions > Download Excel.
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