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A new GSTR-2B API is applicable from 14th Nov 2024, which affects auto-reconciliation of GSTR-2B for Oct-24. Stay tuned for our upcoming release, TallyPrime 5.1, which supports this and makes reconciliation even smoother.
https://help.tallysolutions.com/docs/te9rel65/Tax_India/gst/pur_import_services_gst_report.htm

Import of Services - GST Report

This report displays transactions of import of services and the associated journal vouchers. At the bottom of the report, the Summary of Tax Liability is displayed with columns for:

● Total liability and the amount which can be claimed as tax credit.

● Liability and tax credit booked.

● Pending tax liability to be booked and tax credit to be claimed.

This report gives you a quick overview of the tax liability created due to import of services and enables you to record the required adjustment transaction to bring liability and input tax credit into your books of accounts.

The imports recorded for services ( Type of supply set to Services in accounts/inventory masters) using the following nature of transactions are captured in this report:

● Imports Taxable

● Imports Exempt

To view the Purchase of Import of Service – Reverse Charge Liability report

1. Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-2 or GSTR-3B .

2. Press Enter on Import of Service . The report appears as shown below:

Click L : Liability ITC Booked to view the journal vouchers recorded with the following details:

● Nature of Adjustment - Increase of Tax Liability with Additional Details - Import of Services

● Nature of Adjustment - Increase of Input Tax Credit with Additional Details - Import of Services

● Nature of Adjustment - Increase of Tax Liability & Input Tax Credit with Additional Details - Import of Services

J : Stat Adjustment - Click this button to record journal transactions for booking the pending liability and for updating the liability in books of accounts. Click here for detailed information on recording a journal transaction for creating tax liability for imports.

F12: Configure - Click this button to configure the options for the report.

● Show eligible ITC details? Enable this option to view additional columns with details of tax value eligible for input tax credit out of the liability booked for import of services.

● Show tax types in separate columns? Enable this column to view Integrated Tax and Cess in separate columns. When this option is set to No , a single column is displayed with total Tax Amount .

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