GSTR-8 reconciliation for marketplace sellers

Every month, diff your marketplace-derived invoices against each marketplace's settlement view. Catch mismatches before filing.

GSTR-8 is the return marketplaces file showing the TCS (tax collected at source) they collected on your sales. Finocket diffs your own marketplace invoices against each marketplace's settlement view every month — so you catch mismatches before your GSTR-1 goes out, not after a notice arrives.

Why GSTR-8 reconciliation matters

If your GSTR-1 says you sold ₹1,00,000 on Amazon this month but Amazon's GSTR-8 says they collected TCS on ₹95,000, someone has a discrepancy — and the tax officer's systems will notice the gap. Catching it before filing is much cheaper than replying to a notice after. The TCS itself is your credit: it lands in your cash ledger on the GST portal once you accept it, and reconciling makes sure you claim all of it.

How Finocket reconciles

Open GST → Reconcile and pick a month (it defaults to the previous month).
For every connected marketplace — Amazon, Flipkart, Meesho or a quick-commerce app — Finocket shows a card with:
- Your outward supplies — count and total of your marketplace-derived invoices for the month (what will go to GSTR-1).
- The marketplace settlement view — gross sales, TCS, commission, shipping fees, net payout from ingested settlements.
- The taxable-vs-gross diff — should be zero within ₹1 rounding tolerance.
- The order-count diff — marketplace orders ingested but not yet converted to invoices. If it's above zero, open Marketplace orders and bulk-convert the unconverted.
When every card is clean (or every diff explained), tap Save snapshot. The month's reconciliation is stored, and your CA sees it later on their portfolio dashboard with a clean / material-diff badge.

What does "material" mean here?

A card is flagged material only when the taxable-vs-gross diff is at least ₹1. The own-total-vs-gross number is shown for information but doesn't gate materiality — your invoice total is tax-inclusive while marketplace gross is tax-exclusive, so they naturally differ by the tax amount.

What causes a diff?

Unconverted marketplace orders — fix with bulk convert in Marketplace orders.
A return or cancellation that shouldn't have been invoiced — verify against your marketplace reports.
Rounding — the GSTN portal rounds differently; diffs under ₹1 are ignored for exactly this reason.
Timing — a settlement received in July for a June order can land in July's view; check the adjacent month.

Access & control

Owners and assistants run the reconciliation and save snapshots; an invited accountant sees the cards and saved snapshots read-only — including the badge on their CA portfolio. Requires the GST module plus at least one marketplace connection or CSV import.

Frequently asked questions

How do I claim the 1% TCS that marketplaces collect on my sales?

The TCS the marketplace deposits shows against your GSTIN on the GST portal (TDS/TCS credit received). Accept it there and it credits your cash ledger, usable against your GST liability. Finocket's reconciliation confirms the marketplace's TCS base matches your books first, so you claim the full amount.

What is GSTR-8 reconciliation for online sellers?

Matching your recorded marketplace sales against what each marketplace reported in its GSTR-8 (via its settlement data) for the same month. Finocket does the diff per marketplace and flags material mismatches before you file GSTR-1.

Why is my Flipkart payment less than my sales?

Settlements are net of commission, shipping fees, and TCS. The settlement card shows the full breakdown — gross, TCS, commission, fees, net payout — so the gap is explained line by line, and your books record sales at gross, not at payout.

Should I book the settlement amount as my sales?

No — that's the most common seller accounting mistake. Sales are the gross order value (that's what GST is on); commissions and fees are expenses. Finocket's marketplace ingest keeps them separate automatically.

TDS you deduct — challans, 26Q and Form 16A

Record the TDS you withhold when paying vendors, deposit it by challan against your TAN, and hand your CA a ready 26Q workbook plus Form 16A working copies each quarter.

GSTR-9 annual return summary

See a full financial-year GST summary built from your invoices and expenses — outward supplies by rate, ITC and tax paid — to prepare and cross-check before filing GSTR-9.

Reports, GSTR-1 / 3B and Hand-to-CA

Cashflow, income vs expenses, projects, GST returns (GSTR-1, 3B, 8, ITC summary), TDS summary and the one-tap Hand-to-CA ZIP bundle.