GST & filingsUpdated 22 Jul 2026

GSTR-8 reconciliation for marketplace sellers

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

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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 rather than 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. Finocket does not check the TCS amount a marketplace reported in its GSTR-8 against your books, so compare that figure on the GST portal before you accept 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, because 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.

Does this work offline?

Frequently asked questions

How do I claim the 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. The rate is 0.5% in total from 10 July 2024 (it was 1% before). Finocket's reconciliation compares the taxable value of your invoices with each marketplace's settlements; it does not check the TCS the marketplace reported in its GSTR-8, so compare that on the GST portal before you accept it.

What is GSTR-8 reconciliation for online sellers?

Comparing your recorded marketplace sales with each marketplace's settlement data for the same month. Finocket does the diff of taxable value per marketplace and flags material mismatches before you file GSTR-1. The TCS each marketplace reported in its own GSTR-8 is not checked against your books; compare it on the GST portal.

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.

Your accountant prepares, you approve

An accountant can prepare a GST return and send it for your approval. They cannot approve it themselves, you see the tax payable before you agree, and if the figures change afterwards the approval stops counting.

Filling a client in from their GSTIN

Type a GSTIN and Finocket fetches the name and address from the GST portal, for your clients and for your own business during setup. PAN and state fill instantly from the number itself, and it warns you about a cancelled or composition registration.

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.