GST Ledger Suite

Aggregate Turnover Sec 2(6), CGST Act

Aggregate turnover = value of all taxable supplies (excl. inward RCM) + exempt supplies + exports + inter-State supplies of a person having the same PAN, computed on all-India basis, and excludes CGST, SGST/UTGST, IGST and Cess. Used for the registration threshold and Composition-scheme eligibility.

Threshold reference

GSTR-1 — Statement of Outward Supplies Sec 37

Enter taxable value per rate slab. Tax is auto-split into CGST+SGST (intra-State) or IGST (inter-State) as marked.

GSTR-1 Table 8 — Nil-rated, Exempt & Non-GST outward supplies

Credit Note Calculator Sec 34(1)

Issued for downward revision (sales return, discount post-supply, deficiency in service, excess tax charged). Reduces supplier's output tax liability and correspondingly reduces recipient's ITC. Must be declared by 30 Nov following the FY, or annual-return date, whichever is earlier.

Debit Note Calculator Sec 34(3)

Issued for upward revision (short tax charged, additional consideration). Increases output tax liability; no time bar for declaring debit notes (post-2020 amendment de-linked from original invoice date).

Zero-Rated Supply — Export of Goods Sec 16, IGST Act

Covers export of goods and supply to SEZ unit/developer. Two routes are available.

Export of Services Sec 2(6), IGST Act

Qualifies as export of service only if: supplier in India, recipient outside India, place of supply outside India, payment received in convertible foreign exchange (or INR where RBI permits), and supplier & recipient are not merely establishments of a distinct person.

Exempt Supply Classifier Sec 2(47), Sec 11

"Exempt supply" = nil-rated + wholly-exempted-by-notification supplies + non-taxable supply (alcohol for human consumption, petroleum crude/HSD/petrol/ATF/natural gas, electricity). Exempt turnover drives proportionate ITC reversal under Rule 42/43.

Common exemption categories

Schedule I — Supply even without consideration

Schedule II — Classification as goods or services

Schedule III — Neither goods nor services (outside GST)

Composition Scheme Tax Calculator Sec 10

Composition dealers cannot collect tax from customers, cannot issue tax invoices (bill of supply only), cannot claim ITC, and pay tax quarterly on total turnover in State/UT (CMP-08) with annual return GSTR-4.

Eligibility check

GSTR-2A (dynamic) vs GSTR-2B (static) vs ITC claimed Sec 38 / Rule 60

GSTR-2A updates continuously as counterparties file; GSTR-2B is a static month-end statement used for actual ITC claim in GSTR-3B (Rule 36(4) requires ITC be restricted to that reflected in GSTR-2B, subject to Sec 16(2)(aa)/(ba) conditions).

ITC Eligibility Computation Sec 16

Conditions for availing ITC under Sec 16(2): possession of tax invoice/debit note; goods/services received; tax actually paid to Govt.; return filed; details reflected in GSTR-2B (Sec 16(2)(aa)); payment to supplier within 180 days (Sec 16(2), Rule 37) else ITC reversed with interest; no ITC after 30 Nov following the FY or annual return date, whichever earlier (Sec 16(4)).

Blocked Credit — Ineligible ITC Sec 17(5)

Tick and value each category disallowed under Sec 17(5). These amounts must be excluded from ITC availed / shown in GSTR-3B Table 4(D).

ITC Reversal — Common Credit Rule 42 (Inputs/Services) & Rule 43 (Capital Goods)

Applies where inputs/input services/capital goods are used partly for taxable (incl. zero-rated) and partly for exempt supplies, or partly for business and non-business purposes.

Rule 43 — Capital Goods common credit

ITC for Banks, Financial Institutions & NBFCs Sec 17(4), Rule 38

A banking company / financial institution / NBFC supplying services by way of accepting deposits, extending loans or advances may, instead of Rule 42/43 proportionate reversal, opt to avail 50% of eligible ITC every month on inputs, capital goods and input services, and the balance 50% lapses. ITC exclusively for non-business purposes or blocked u/s 17(5) is excluded before applying the 50% rule; once exercised the option cannot be withdrawn during the remaining FY. ITC on inputs/capital goods/services used exclusively within the same registered person's other registrations (distinct persons) is fully available without the 50% restriction.

Reverse Charge Mechanism Sec 9(3) & 9(4)

Under RCM the recipient discharges tax directly to Govt. (cannot be paid from ITC — must be paid in cash) and may then avail it as ITC if used for business (subject to Sec 17(5)). Sec 9(3) covers notified goods/services (GTA freight, legal services by advocate, sponsorship, security services by non-body-corporate, director's services, import of services, etc.). Sec 9(4) covers supply from an unregistered to a registered person for notified categories (e.g., cement/capital goods procured by real-estate promoters from unregistered suppliers).

Common RCM-notified supplies

Input Service Distributor — ITC Distribution Sec 20, Rule 39

An ISD distributes common ITC on input services (billed centrally) to its various registered units (same PAN) via an ISD invoice, in proportion to the turnover of each recipient unit in the preceding financial year (or last quarter, if no turnover in the preceding year). IGST credit is distributed as IGST; CGST/SGST credit is distributed as IGST if the recipient is in a different State, else as CGST/SGST.

GSTR-3B — Summary Return Rule 61

3.1 Outward supplies & inward supplies liable to RCM

4. Eligible ITC

ITC Utilisation Order Sec 49(5), 49A, 49B & Rule 88A

IGST credit must first be fully exhausted (against IGST, then in any order/proportion between CGST and SGST/UTGST) before CGST or SGST credit can be used. CGST credit → CGST then IGST (never SGST). SGST/UTGST credit → SGST then IGST (never CGST). Cross-utilisation between CGST and SGST is never permitted.

Interest on Delayed Payment Sec 50

Sec 50(1): 18% p.a. on the portion of tax paid by debiting the electronic cash ledger, computed from the day after the due date to the date of payment (interest is levied only on the net cash tax liability, per the 2019 amendment given retrospective effect from 1-Jul-2017). Sec 50(3): 18% p.a. on ITC wrongly availed and utilised (rate revised down from 24% by Notification, effective retrospectively from 1-Jul-2017).

Late Fee Sec 47

Penalty Reference Sec 73 / 74 / 122

Refund of Inverted Duty Structure Sec 54(3), Rule 89(5)

Available where the rate of tax on inputs is higher than the rate of tax on output supplies (other than nil-rated/fully exempt), excluding notified goods/services.

Other Refund Categories

GSTR-9 — Annual Return Sec 44, Rule 80

Consolidates all GSTR-1/3B filed for the FY. Mandatory for regular taxpayers with aggregate turnover > ₹2 crore (optional/simplified for smaller taxpayers per annual notifications).

Part II — Outward & inward supplies declared (from GSTR-1/3B for the year)

Part III — ITC as declared in returns filed

Part V — Amendments for supplies of previous FY declared in returns of Apr–Nov of current FY

GSTR-9C — Reconciliation Statement Sec 44, Rule 80(3)

Self-certified (CA/CMA certification requirement removed w.e.f. FY 2020-21) reconciliation between the audited Annual Financial Statements and figures declared in GSTR-9. Applicable where aggregate turnover exceeds the notified threshold (currently ₹5 crore).

Period Comparison

Every time you click "Save period snapshot" (top-right), the current dashboard totals are stored in your browser (localStorage) against the selected period. Compare trends below.

Tax Liability Projection

Projects next period's net cash liability using the average month-on-month growth rate of saved snapshots (minimum 2 snapshots needed), or a manual growth assumption.

Cross-Ledger Reconciliation

Flags mismatches between the figures entered across GSTR-1, GSTR-2A/2B, GSTR-3B and GSTR-9 for the current period/year — the most common source of GST notices.