Myntra GST Invoice and Settlement Matching

What you are actually matching

Matching has four layers, and a mismatch can sit in any of them: the tax invoice for the order, the credit note for each return, the Myntra settlement report, and the bank credit that reached your account. Every rupee of invoice value should trace to a settlement line, and every settlement total should trace to a bank credit.

It breaks because these documents are created at different times. An invoice is dated at dispatch, a return arrives days later, and one settlement can cover orders from several invoice periods. Matching by month alone rarely works. Match at order or sub-order level instead.

Documents to collect before you start

• Your sales invoice register, with invoice number, date, order ID, taxable value and GST amount.
• Credit notes issued for returns, with the original invoice reference.
• Myntra settlement or payout reports in Excel for the period.
• Bank statement entries for Myntra credits.
• Your seller agreement and rate card, which define what Myntra may deduct.
• Your GST portal data, including TCS details credited to you.

Column names and report layouts differ by report type and can change, so check the headers in your own downloads rather than assuming them.

Step-by-step: match invoices to settlements

1. Fix the period and the key. Use order ID or sub-order ID as the primary key and invoice number as a secondary check.
2. Build one sales sheet. Put invoices as positive values and credit notes as negative values, each with its order ID.
3. Load settlement lines. Map each line to the same key. Keep sale amount, commission, fees, TCS, TDS and any adjustments in separate columns.
4. Compare values. Check invoice value against the settled sale amount for each order. Flag differences, missing orders and duplicates.
5. Check deductions. Compare each commission and fee with your agreed terms. Do not assume a rate; read it from the rate card.
6. Total the expected payout. Net sales less valid deductions should equal the settlement total. Then compare that total with the bank credit.
7. Log exceptions. Record each difference with amount, order ID, owner and date raised.

Common causes of mismatches

• Return timing: the credit note is dated in one cycle but the return is settled in a later one.
• Price or discount differences: the invoiced value differs from the settled sale amount. Confirm the cause in the order details before disputing.
• Fee variances: a charge that does not match the rate card or agreed terms.
• Missing or duplicate orders: an invoice with no settlement line, or the reverse.
• Netting and carry-forward: one bank credit covers many lines, or adjustments are carried into the next cycle.
• GST period gaps: the invoice falls in one return month and the settlement in the next.

GST and tax checks to keep in the loop

Marketplaces may collect TCS on supplies and may deduct TDS on payouts. Rates, thresholds and compliance rules can change, so confirm the current position with your tax adviser and the latest official notifications. Do not copy rates from a blog post, including this one.

What you can do in matching is tie the amounts. Check that TCS shown in settlement reports agrees with what appears against your GSTIN on the GST portal, and that TDS agrees with your tax credit statement. Also confirm with your adviser that credit notes for returns are reported in the correct return period.

Making it a routine

Run the match every settlement cycle, not at year-end. Old exceptions are harder to dispute because order details are harder to retrieve and any claim windows in your agreement may lapse. Keep an ageing list of open differences and review it weekly.

If spreadsheets are becoming the bottleneck, MarketplaceMetrics by Fundle reconciles marketplace sales and settlements, checks commissions and fees against agreed terms, and tracks returns and recovery cases. Myntra Excel reports are reviewed, and other marketplaces are in scope discussion.