ITC reversal if mis-match of information from GSTR2 to GSTR1.

ITC reversal if mis-match of information from GSTR2 to GSTR1.


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ITC reversal if mis-match of information from GSTR2 to GSTR1.As we have explained, GST tax return filing system is totally by online electronically. Unlike tax filing system of olden days, each GST tax registered will have separate account which can be viewed by him at any time at any place.

It’s simple, if a supply is there, there must be a receipt. Under GST tax electronic system, if a supply has been fed by a supplier, such information is auto-populated as receipts by other side, Recipient.

So when a supplier files his GST return with tax payment, the information on such supply details automatically reflects electronically in the register of recipient as receipts. Here, GSTR1 is monthly GST return form of supplier and the Recipient files monthly GST returns under form GSTR2.

The supply details under GSTR1 and Receipt details under GSTR2 are matched. If a supply details under GSTR1 filed with valid tax payment by supplier, all such auto populated information can be viewed by recipient when filing receipts details under GSTR2.

 

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