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GST Checklist for the End of Financial Year 2022-2023

Reconciliations

Comparing the outward supplies recorded in books and the GST returns (Books, GSTR-1, and GSTR-3B) can help identify if any changes need to be made to the GST returns. This comparison should include turnover and taxes. Conducting a reconciliation between the rates recorded in books and the rates reported in GSTR-1 (including tax ledgers) and 3B for reverse charge mechanism (RCM) can help identify discrepancies.

Read More: Taxscan

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