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.
Related: Connect Amazon, Flipkart, Meesho & quick-commerce, Reports & GST filings.