GST Input Tax Reconciliation Services

Key Components of Our Reconciliation Process:

• Source Document Matching: Purchase register (books of accounts) vs. GSTR-2B (auto-drafted ITC statement)
• Comprehensive Parameter Verification: Supplier GSTIN, invoice number, invoice date, taxable value, GST amount
• Filing Form Coordination: GSTR-1 (by supplier), GSTR-2B (auto-populated), GSTR-3B (ITC claim)

Why Our Reconciliation Service Is Crucial:

• Ensures Accurate ITC Claims: Verify that claimed ITC matches supplier-uploaded data in GSTR-1 and GSTR-2B
• Avoids Legal and Financial Penalties: Prevent notices, credit reversals, interest, and penalties from tax authorities
• Improves Vendor Compliance: Identify non-compliant vendors and improve overall supplier discipline
• Ensures Timely Filing: Claim ITC within specified time limits (up to November of following financial year)
• Reduces Working Capital Blockage: Prevent fund blockage due to denied ITC, improving cash flow management
• Supports Audit Readiness: Strengthen internal controls with proper documentation and accurate tax data

Common Reconciliation Scenarios We Handle:

• Missing Invoices in GSTR-2B: Contact vendors for proper GSTR-1 filing and invoice corrections
• Unrecorded Invoices in Books: Investigate errors and verify invoice authenticity
• Mismatched Amounts or GSTINs: Correct accounting records and coordinate with suppliers for corrections
• Ineligible ITC Claims: Identify and reverse ineligible credits with proper interest calculations

Our Reconciliation Best Practices:

• Monthly or quarterly reconciliation (not just year-end)
• Automation tools for large data volumes
• Detailed record maintenance and vendor communication
• Regular compliance education for teams and vendors

Why Choose Vruddhi for Reconciliation:

1. Transaction-Wise Reconciliation: Detailed analysis of every transaction for maximum accuracy
2. Instant Overview Reports: Summary reports providing immediate insights into ITC claims
3. Comprehensive Resolution: End-to-end handling of all reconciliation discrepancies