GST Reconciliation Services – 2A/2B Matching, ITC Optimization & Compliance Assurance
GST Reconciliation is a critical process where businesses match their purchase records (books of accounts) with the data auto-populated in GSTR-2A/2B on the GST portal. This ensures that Input Tax Credit (ITC) is claimed only on genuine and eligible invoices uploaded by suppliers. Failure to reconcile properly can lead to loss of ITC, notices from GST authorities, and working capital blockages.
We offer end-to-end GST Reconciliation services that include matching every invoice from your purchase register with GSTR-2A (dynamic) and 2B (static for ITC claim). We identify mismatches, missing invoices, incorrect GSTINs, and supplier non-compliances which could impact your ITC eligibility.
Our team works closely with clients to communicate discrepancies to vendors, ensure timely corrections, and maintain a real-time reconciliation dashboard for management tracking. We also help in managing provisional ITC (up to the permitted limits), and ensure adherence to Rule 36(4) restrictions on unmatched ITC claims.
Beyond monthly reconciliations, we assist in annual reconciliations for GSTR-9/9C filing, respond to ITC-related GST notices, and provide strategic advisory on improving vendor compliance to safeguard your ITC positions. Our structured reconciliation ensures you maximize eligible credits, maintain compliance, and avoid interest or penalties due to mismatches.
Frequently Asked Questions (FAQs)
GSTR-2A is a dynamic statement that gets updated when suppliers file their GSTR-1. GSTR-2B is a static statement generated monthly which is considered for ITC claims.
Only invoices uploaded by your suppliers in their GSTR-1 will reflect in your GSTR-2A/2B. If your purchase records don't match, ITC on such invoices may get denied, leading to financial losses.
Common mismatches include missing invoices, incorrect GSTINs, wrong invoice values, mismatched tax amounts, and invoices not uploaded by suppliers.
As per current GST rules, provisional ITC is allowed up to a certain percentage over matched credits (Rule 36(4)). We help in calculating and ensuring compliance within permissible limits.
GST
CA. Dhiraj Jain
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