Purchase data is significant in the GST system for claiming ITC, ensuring compliance, managing finances, and facilitating accurate GST return filing. Businesses must maintain accurate and comprehensive purchase records to leverage the GST system’s benefits effectively.
Here are the steps for performing a purchase data:
- Select “Purchase Data” from the Reports on the My Company page.
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- You have been redirected to the Purchase Data page, which automatically selects and displays the previous month.
- Here, you can set the month for uploading your purchase data or view your uploaded data.
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- If you have not uploaded any data, you can select the month period and Import data.
- click on the “Import Your Data” button to import data through an Excel file.
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- After clicking the “Import Your Data” button, you will be redirected to the Import Purchase Data screen.
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- After selecting the Government Excel option, you will be redirected to the screen where you can upload your Excel file.
- Here your data will be imported by selecting file.
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- After successfully importing your data you can now see all data as per month or selected month period and then you can use this data for Purchase Vs GSTR-2B Reconciliation.