https://www.taxtmi.com/circulars?id=62480 System-based reconciliation requires filing and correction of outward and inward statements so that FORM GSTR-2A auto-populates recipient data and the portal drafts FORM GSTR-3. The portal recalculates output tax and eligible ITC; where FORM GSTR-3 shows higher tax payable than paid in FORM GSTR-3B the taxpayer must pay the shortfall by debiting electronic cash or credit ledger with interest. If FORM GSTR-2 supports additional ITC, it is credited on submission of FORM GSTR-3 and may be used to meet increased tax liability. Unpaid GSTR-3B submissions remain subject to reconciliation and interest liabilities. en-us Fri, 02 Aug 2019 00:00:00 +0530 Mon, 16 Sep 2019 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62480 System-based reconciliation requires filing and correction of outward and inward statements so that FORM GSTR-2A auto-populates recipient data and the portal drafts FORM GSTR-3. The portal recalculates output tax and eligible ITC; where FORM GSTR-3 shows higher tax payable than paid in FORM GSTR-3B the taxpayer must pay the shortfall by debiting electronic cash or credit ledger with interest. If FORM GSTR-2 supports additional ITC, it is credited on submission of FORM GSTR-3 and may be used to meet increased tax liability. Unpaid GSTR-3B submissions remain subject to reconciliation and interest liabilities. Circulars GST - States Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62480