The Tax Liability and ITC Comparison Report in GSTZen gives a quick view of your GST output tax liability versus the Input Tax Credit (ITC) available. It helps identify mismatches, shortfalls, or excess credits, ensuring accurate compliance and better planning before filing returns.
You can directly download the Tax Liability and ITC Comparison report in an Excel after downloading the data from the GST Portal into GSTZen by following the steps below-
Step 1: Click on the GSTIN for which you want to download the Tax Liability and ITC Comparison Report.
Step 2 : Click on Download a report, then select Tax Liability and ITC Comparison Report . You may also select the Financial Year for which you need to get the data downloaded.
Step 3: Log in to the GST Portal through User Name and Password.
Note : Tax Liability and ITC Comparison Report can be only fetched using User Name and Password in GSTZen software.
STEP 4 : Sync Tax Liability and Comparison Report from Government Portal
Click on Sync button to sync and fetch Tax Liability and Comparison Report from Government Portal
Step 5 : Once the details have been fetched from the Government portal you may download the complete details of –Tax Liability and ITC Comparison Report in XLS format in the next step.
Step 6 : The downloaded file will give you the final Excel output with its various sheets – consisting Tax Liability Summary , Comparison Summary ,Tax Liability , Reverse Charge , Export and SEZ , ITC (Other than IMPG) , ITC (IMPG) and RCM_LIABILITY_ITC
The Tax Liability and ITC Comparison Report provides a detailed reconciliation of GST liabilities against eligible Input Tax Credit (ITC). It begins with the Tax Liability Summary and Comparison Summary, offering an overall view of liability versus available ITC. The Tax Liability section outlines outward tax obligations, while the Reverse Charge section captures liability payable under RCM. The Export and SEZ segment reflects zero-rated supplies made with or without payment of tax. On the ITC side, ITC (Other than IMPG) covers credits from domestic procurements, ITC (IMPG) represents credits from import of goods, and RCM_LIABILITY_ITC records ITC available on taxes paid under reverse charge. Collectively, these components provide accountants with a clear view of mismatches, ITC utilization, and cash outflow requirements, thereby ensuring accurate return filing and compliance.