Businesses have been filing GST returns for over a year now. While compliance is the main purpose, the granularity and spread of details captured in your GST filing makes it a rich data mine. From invoice-level details to aggregate information and from a single GSTIN to the business PAN as a whole, the GST data if analysed, can be a valuable asset to the C-Suit for decision-making and efficient tracking of business.
Hence here we come up with Insights feature. To know scope and purpose of each standard report click here.
Based on data present on IRIS Sapphire, we are providing some standard reports. For these standard reports, pre-defined drill-downs are available. These reports are created using GSTR 1 uploaded data, GSTR1 Summary, GSTR 2A, and GSTR 3B data.
Some key points to note about the reports generated-
1. GSTR 1 data uploaded using IRIS GST input formats
• If any filings or modifications are done directly on GST portal for GSTR 1, the same will not be reflected in reports generated based on GSTR 1 uploaded data. But if you go and see reports based on GSTR 1 filed data then all these things will be as per GSTR 1 filed data.
• Invoices which have been marked for deletion are not considered in any computation. All other invoices including the invoices with errors and warnings are included for computation for GSTR 1 uploaded data-based reports.
2. GSTR 1 Summary available on GST system
• If for any GSTIN or period, GSTR 1 is not available in IRIS system, the same will not be considered for the reports.
• Please note, getting of GSTR 1 summary is an automated process and summary gets fetched if the session with GST system is active
3. GSTR 2A fetched from GST system
• If for any GSTIN or period, GSTR 2A is not fetched from GST system, the same will not be included in the reports.
• GSTR 2A fetch is a user-triggered action
4. GSTR 3B Summary available on GST system
• If for any GSTIN or period, GSTR 3B is not available in IRIS system, the same will not be considered for the reports.
• Please note, getting of GSTR 3B summary is an automated process and summary gets fetched if the session with GST system is active
There will be a latency of 1 day in the data used in for reporting purpose.
To know more about insights dashboard details click here.