In order to generate an accurate GSTR-2 and 3B return, you need to enter the purchase data of your business in Octa GST. As per the availability and convenience, you may enter the data in the form of detailed documents or you may also enter the consolidated summary of purchase.
Purchase data consists of the following documents and summary pertaining to the return period:
- Purchase Invoices: As issued by suppliers
- Credit Notes: As issued by suppliers
- Debit Notes: As issued by suppliers
- Advance Paid: Advance paid for supplies on which tax is to be paid on reverse charge basis
- Advance Adjusted: Advance paid in earlier tax periods & adjusted against supply in current period
- Refund Vouchers: Advance paid in earlier tax periods and refund by supplier in current period
IMPORTANT: Credit and debit notes need to be entered from supplier's perspective. For example, if your suppliers issues a Credit Note to you, it has to be reported as Credit Note only. Even though it is entered as Debit Note in your books of accounts.
- Non-Taxable Purchase Summary: Consolidated value of nil-rated, exempt and non-GST inward supplies
- HSN Summary: HSN code or description wise summary of outward supplies
- ITC Adjustments: Reversal or reclaim of ITC under various provisions
Entering Data using GUI
Octa GST provides a convenient GUI (graphical user interface) to enter the purchase data. All the user inputs are validated for common errors so that incorrect data entries can be prevented.
This mode is useful when the purchase documents are not being maintained in an electronic format. It is also useful when the number of purchase documents are less and manual entry of data is feasible. We suggest this method for less than 300 invoices in a month.
To enter the purchase data using GUI, open the Purchase page and click the Add button. This will open a new screen on which invoice data can be entered. If you need to enter other documents, simply change the type of documents being displayed on the screen and click Add.
Importing data from Excel & CSV files
If you are already maintaining the purchase data in an electronic format, you can quickly import all your documents. Octa GST supports import of purchase data from Excel/CSV files in two formats.
- Octa Format: Useful to import the list of purchase documents using which return can be automatically generated. This format is easier to produce and chances of error are less.
- GST Offline Tool Format: Most popular accounting and business software packages exports the data in this format. You can download this format from GST Portal.
Importing Excel/CSV files in Octa Format
You can download the file format specification and sample files by clicking the button below:
There are 5 sheets containing purchase data (OctaPurchaseSample.xlsx):
- Purchase Invoices: To import all purchase invoices.
- Purchase Documents: To import all other purchase documents (Credit/Debit notes, Advance Paid/Adjusted, Refund Vouchers)
- Non-Taxable Summary: Summary of non-taxable purchases which are not reported in Purchase Invoices (1).
- HSN Summary: HSN wise summary of purchases. This summary needs to be reported only if HSN details are not included in Purchase Invoices (1).
- ITC Reversal: Reversal or reclaim of ITC under various provisions of law. ITC Reversal needs to mentioned as positive number and ITC reclaim needs to be reported as negative number.
Octa GST provides a user friendly import facility. Full import file is validated by Octa GST before importing so that your data is consistent and accurate. If any issue is detected in the contents of import file, Octa GST gives specific and useful error messages guiding you where & what exactly is wrong. You can correct the import file and then resume the import process.
Using the import facility, adding a large number of purchase documents is a matter of seconds. To use this format, simply click the Import button on Purchase page and follow on-screen instructions.
Importing Excel/CSV files in GST Offline Tool Format
There are many accounting and business software packages which supports the data export in GST offline tool compatible format. Octa GST also supports this format and it can directly import such files.
To import the file in GST Offline Tool format, simply click the Import button on Purchase page and follow the on-screen instructions.
Continue reading: Octa GST Guide