• Sovos India GST Suite
• GST Software | Sovos GST Compliance solution
• 6th August 2024

Exciting New Updates on Sovos India GST Compliance portal

Customized Download Settings – Fuzzy Tolerance % Selection

A fuzzy tolerance % selection option is added in the download settings for GSTR2 and GSTR2B reconciliation.

Use Case

• This allows users to include an additional fuzzy tolerance percentage column in their downloaded reconciliation files, accommodating the percentage of minor discrepancies between their records and GSTR data.
• Facilitates faster data analysis process by filtering out minor mismatches, thus reducing manual review efforts.

How to Use?

• In the settings tab → go to customized download settings → Select Recon GSTR2 or GSTR2B reconciliation section → Select Purpose and then Select the fuzzy tolerance % option to include it in your downloaded file.

Recon Planner Time Gap Reduction

The time gap between ‘Get 2B’ and ‘Perform Reconciliation’, and ‘Get 2A’ and ‘Perform Reconciliation’, has been reduced from 5 hours to 2 hours.

Use Case

• Since there are tight deadlines for GST filings benefit from the shorter time gaps is that it enables faster reconciliation and quicker turnaround in resolving discrepancies, ensuring compliance with tax deadlines.

How to Use it?

• Use the Recon Planner as usual. The system will now automatically apply the reduced 2-hour time gap between performing actions.

Group Level & GSTIN Level Report Based on 2B Reconciliation

TGroup Level and GSTIN Level Reports are now available based on 2B Reconciliation, which were previously available only for 2A Reconciliation.

Use Case

• The comprehensive reports can be generate for multiple GSTINs at both the group and individual GSTIN levels using 2B recon data, providing detailed insights and facilitating better tax management.
• Group Level Report aggregates and presents the overall GST compliance status and performance metrics for all entities within the group, whereas the GSTN Level report provides comprehensive details on each GSTN.

How to Use it

• Navigate to Group Level Reports or GSTN Level Reports from the 2B based Purchase Recon of Reconciliation Tab, access the report section and select the report you wish to download.

Enhancement in GSTR1 → Recon View

In the ‘Only IRN’ category, a red blinking dot and a message will now appear, alerting users that “Only IRN invoices are actionable items. Either delete these invoices or check why they are missing in uploaded data.”

Use Case

• The enhancement helps minimizing the risk of missing out actionable IRN invoices that need immediate attention and helping to quickly address erroneous invoices improving the accuracy of their filings.

How to Use it?

• Go to the GSTN Level → from the returns tab, select GSTR1, and go to the Recon View and select Only IRN category to take the actions on the invoices present there.

Watermarks in GSTR1 & 3B PDF GSTN Summary Download

Watermarks ‘Draft’ and ‘Filed’ have been added to the PDFs of GSTR1 and GSTR3B summaries, based on the return’s status.

Use Case

• This feature allows users to easily identify the status of their returns in the PDF summaries, helps in quickly reviewing or filing them, ensuring that only finalized documents are submitted.
• These watermarks simplifies the document management and tracking.

How to Use it?

• Download the GSTR1 or GSTR3B PDF GSTN Summary as usual. The appropriate watermark will be automatically