Compliances & Reconciliation with Taxes

If your ERP system do not support the reconciliation as required under various laws such as GST, TDS etc,We can do reconciliation of enormous data generated by ERP system.

compliances-and-reconciliation-with-taxes

If you are a large organization and your invoices runs in thousand every month or your vendor invoices runs into thousand every month and your IT system do not support the reconciliation & compilation as required under various laws such as erstwhile service tax, excise, GST, TDS etc. Further, if your assessments are pending and you are struggling in reconciliation of data, we can help you. Reconciliation becomes more critical if your accounting operation are decentralized (operating through multiple branches) and you wish to centralize the same.

Under this head of service, we can take up the challenge of reconciliation of enormous data generated by accounting system. The scope of our service include the following

GST - compilations & reconciliation

 

The scope of our service includes:

  • Reconciliation of revenue & output tax filed in GSTR 1 with books
  • Reconciliation of revenue & output tax filed in GSTR 3B with books
  • Reconciliation of revenue & output tax filed in GSTR 1 with GSTR 3B
  • Reconciliation of ITC available in books with ITC claimed in GSTR 3B
  • Reconciliation of ITC available in books with ITC available in GSTR 2A on GST portal
  • Reconciliation of ITC claimed in GSTR 3B with ITC available in GSTR 2A on GST portal
  • Reconciliations of output & input GST with books & annual return
  • Maintaining the input GST register in excel showing details such as exempt, non-exempt input services, category of services, Input service tax etc.

Tax deducted at source - compilations & reconciliation

The scope of our service includes:

  • Determine the TDS Liability (TDS Payable):
    • Maintaining the TDS payable register in excel showing details such as TDS deductible, Non TDS deductible expenses, Section under which TDS is applicable, Co./Non Co. assessee, Rate of deduction, TDS at lower rate etc.
    • Consistency of TDS payable with Trial balance on day to day basis
    • To segregate expenses based on applicability of TDS and reconciling the same with TDS payable.
    • Reconciliation of TDS payable in respect of various category of TDS under Income Tax Act, 1961
  • TDS Receivable Reconciliation:
    • Reconcile TDS ledger with form 26AS in excel showing the comparison of both and detail of differences between the same.
    • Reconcile TDS ledger with TDS Certificates in excel showing the comparison of both and detail of differences between the same.
    • Reconcile TDS Certificates with form 26AS in excel showing the comparison of both and detail of differences between the same.

Depending upon the requirement of the organization, we can take up the one time assignment or regular assignment. We are also flexible in terms of our fee structure, it can be on fixed basis or variable basis or we can also have combination of fixed & variable.

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