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