What Is GST Accounting?
GST Accounting means maintaining your business books in a manner that is fully compliant with the Goods and Services Tax framework. It is more than just filing GSTR returns — it involves correctly recording GST collected on sales, GST paid on purchases, computing net tax liability, reconciling Input Tax Credit (ITC) with GSTR-2B, and ensuring the numbers in your books match your filed returns.
Errors in GST accounting lead to mismatches between your GSTR-3B and GSTR-1, cause ITC reversals, attract scrutiny notices from the GST department, and result in penalties. Correct GST accounting from Day 1 is the best form of GST risk management.
Our GST Accounting Services
- GST-Compliant Bookkeeping: Maintaining separate ledgers for CGST, SGST and IGST collected and paid. HSN/SAC-wise recording of all sales and purchases as required under GST rules.
- GSTR-1 Filing: Monthly or quarterly filing of GSTR-1 (outward supply statement) by 11th of the following month (or 13th for quarterly filers). Includes B2B invoices, B2C summary, export invoices, credit/debit notes and advances.
- GSTR-3B Filing: Monthly self-assessed GST return filing by 20th of the following month. Includes computation of ITC eligible to be claimed and net GST payable.
- GSTR-2B Reconciliation: Monthly reconciliation of ITC available in GSTR-2B (auto-populated from supplier filings) with purchases booked in your accounts. Identifying and resolving mismatches before ITC is claimed.
- GSTR-9 Annual Return: Filing the annual GST return (GSTR-9) by 31 December for the previous financial year. Includes consolidation of monthly returns and reconciliation with books.
- E-Invoice Generation: For businesses with annual turnover above Rs. 5 crore, generating IRN (Invoice Reference Number) and QR codes for all B2B invoices through the IRP portal.
- E-Way Bill Management: Generating and managing e-way bills for consignments above Rs. 50,000. Cancellation and extension of e-way bills as required.
- GST Notice Response: If you receive a GST notice (ASMT-10, DRC-01, etc.), we prepare the reply with supporting reconciliation data.
GST Return Due Dates (Key Deadlines)
| Return | Applicable To | Due Date |
|---|---|---|
| GSTR-1 | All regular taxpayers (monthly filers) | 11th of following month |
| IFF | QRMP quarterly filers (optional for B2B) | 13th of following month (M1 & M2) |
| GSTR-3B | All regular taxpayers (monthly) | 20th of following month |
| PMT-06 | QRMP quarterly filers (tax payment) | 25th of following month |
| CMP-08 | Composition scheme taxpayers | 18th of month after each quarter |
| GSTR-9 | All registered taxpayers (annual) | 31 December (for previous FY) |
Frequently Asked Questions
What is GSTR-2B reconciliation and why does it matter?
GSTR-2B is an auto-populated statement showing all ITC available to you based on your suppliers' GSTR-1 filings. You can only claim ITC that appears in GSTR-2B (with some exceptions). Reconciling your purchase books with GSTR-2B ensures you're not claiming ineligible ITC (which causes demand notices) or missing eligible ITC (which costs money).
Do you file GST returns for composition scheme taxpayers?
Yes. Composition scheme taxpayers file CMP-08 quarterly (tax payment) and GSTR-4 annually. We handle both, along with maintaining the composition-compliant books of accounts (no ITC, bill of supply instead of tax invoice).
Can you help if our GST returns have errors from previous months?
Yes. GST returns cannot be revised, but errors can be corrected in subsequent returns using amendment tables in GSTR-1, or by adjusting ITC in GSTR-3B with proper documentation. We identify the best correction method and implement it.
Do you handle GST for e-commerce sellers on Amazon/Flipkart?
Yes. E-commerce sellers need to account for TCS (Tax Collected at Source) deducted by the marketplace and claim it in GSTR-3B. They also need to reconcile settlement amounts with GST-reported sales. We handle all of this.
Get Your GST Accounting in Order
Avoid GST notices and ITC mismatches. Our GST accounting team ensures your returns are accurate and filed on time every month.