Review and reconcile your Input Tax Credit with professional assistance. Includes purchase register comparison, GSTR-2B matching, discrepancy identification and ITC eligibility review.
Accurate input tax credit reconciliation helps businesses verify eligible GST credits, identify invoice mismatches and maintain consistency between GST returns and books of accounts. We assist with GSTR-2B matching, purchase register verification, ITC eligibility review and applicable reversal calculations to support accurate GST reporting.
Comparison of GSTR-2B, GSTR-3B and purchase records to identify missing invoices, mismatches and differences in input tax credit.
Review of supporting invoices, statutory conditions, blocked credits and other applicable requirements before considering ITC claims.
Identification of credits requiring reversal or eligible re-availment under applicable GST provisions and reconciliation procedures.
Preparation of structured reconciliation statements highlighting matched invoices, pending entries and differences requiring further review.
We provide assistance with invoice matching, ITC eligibility checks, supplier-related differences and reconciliation of GST credit records to help businesses maintain accurate input tax credit information under applicable GST provisions.
Matching of GSTR-2B invoice details with purchase registers and accounting records to identify missing, duplicate or mismatched supplier invoices.
Comparison of ITC reported in GSTR-3B with credit reflected in GSTR-2B to identify differences requiring verification or explanation.
Identification of supplier-related discrepancies, missing invoice reporting, incorrect GSTIN details and supplier return filing issues affecting ITC records.
Review of input tax credit against applicable conditions under Sections 16 and 17, including restricted and blocked credit under Section 17(5).
Assistance with identifying applicable reversals and eligible re-availment relating to non-payment to suppliers, supplier return defaults and other prescribed circumstances.
Review of ITC records across the financial year, reconciliation of annual credit figures and assistance with applicable annual return disclosures.
Our package focuses on reviewing input tax credit records, identifying reconciliation differences and preparing supporting statements according to the agreed scope of engagement and applicable GST requirements.
Structured statement comparing GSTR-2B, GSTR-3B and purchase register figures with identified differences.
Details of missing invoices, supplier reporting differences, GSTIN errors and entries requiring follow-up.
Working of potentially eligible, ineligible, reversible and reclaimable credits based on available records and applicable GST provisions.
Summary of identified differences, supporting documentation requirements and recommended follow-up actions.
The reconciliation process involves collecting GST returns and accounting records, matching invoice-level information, verifying eligibility and identifying differences requiring further action.
Understand the business activity, GST registration details, relevant financial year or tax period and scope of ITC reconciliation required.
Collect GSTR-2B, GSTR-3B, purchase registers, supplier invoices, debit notes, credit notes and other relevant accounting records for the selected period.
Match supplier GSTINs, invoice numbers, dates, taxable values and tax amounts between GSTR-2B and purchase records. Identify matched, missing, duplicate and mismatched entries.
Review documentary requirements, business-use conditions, supplier reporting, payment conditions, blocked credits and other applicable ITC restrictions and reversal provisions.
Prepare supplier-wise discrepancy details, identify pending invoice reporting and payment-related issues, and organise the information required for clarification or corrective follow-up.
Prepare the final reconciliation statement, ITC eligibility observations, reversal workings and supporting schedules. Provide guidance on applicable GST return adjustments and follow-up actions.
ITC reconciliation assistance is relevant to registered taxpayers claiming input tax credit on business purchases, services and other eligible inward supplies under applicable GST provisions.
Proprietorships, partnership firms, LLPs and companies claiming input tax credit on eligible business purchases and services.
Businesses handling multiple vendors, regular purchases and high invoice volumes requiring supplier-wise ITC matching and verification.
Businesses with differences between GSTR-2B, GSTR-3B and purchase records or pending supplier invoice reporting requiring further investigation.
Registered persons seeking periodic or financial-year-wise reconciliation of input tax credit, reversals and applicable annual reporting figures.
The documents required depend on the tax period, number of suppliers and nature of inward supplies. The following records may be required for invoice matching, eligibility verification and reconciliation.
GST registration certificate and GSTIN details of the registered business or taxpayer.
PAN details of the proprietor, partnership firm or registered business entity, as applicable.
Certificate of incorporation, partnership deed, LLP agreement or other relevant entity records.
Registered office or principal place of business details and authorised contact information.
Auto-drafted ITC statements for the relevant tax periods, including available and not-available credit details.
Filed GSTR-3B returns showing ITC availed, reversals and other relevant tax reporting information.
Supplier-wise purchase records containing invoice numbers, dates, taxable values and GST amounts.
Tax invoices, debit notes and other prescribed documents supporting input tax credit claims.
Supplier GSTINs, invoice numbers, dates, tax amounts and other transaction particulars for matching.
Purchase ledger, input tax credit ledger and relevant accounting records for the reconciliation period.
Delivery challans, goods receipt notes, transport documents and other evidence of receipt of goods.
Bank statements, payment vouchers, supplier ledgers and other evidence of payment against purchase invoices.
Bills of entry and supporting customs documents for import-related input tax credit verification, where applicable.
Previous reversal workings, GSTR-3B adjustment records and supporting documents for eligible re-availment of credit.
Find answers to common questions about input tax credit, GSTR-2B reconciliation, ITC eligibility, supplier mismatches, reversals and GST reporting.
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