GST Reconciliation

GST reconciliation ensures that the ITC you claim matches what your suppliers have reported in their GSTR-1. Mismatches can lead to ITC rejection, tax demand notices, and interest liability. Regular reconciliation helps avoid these issues and ensures accurate tax compliance.

It is recommended to reconcile GST data monthly, immediately after GSTR-2B is generated on the 14th of each month. Monthly reconciliation helps identify mismatches early and gives you time to resolve them before the return filing deadline of the 20th.

If the ITC claimed by you exceeds what the supplier has reported, the excess ITC will be auto-populated in Table 4A(5) of GSTR-3B and will be added to your output tax liability along with interest from the date of claim until payment.

You need your purchase register (ledger), sales register, GSTR-2B downloaded from the portal, GSTR-1 summary, GSTR-3B for the relevant period, and supplier-wise ITC mismatch statements if any.

Yes, we can perform reconciliation for any past financial year. This is especially useful for annual return (GSTR-9) preparation and for responding to notices demanding reconciliation of ITC claims for earlier periods.

GST reconciliation is the process of matching the Input Tax Credit (ITC) claimed in your GSTR-3B with the supplies reported by your vendors in their GSTR-1/2B. It also involves matching your sales data with what your buyers have claimed as purchases.

Our professional fee for GST reconciliation is ₹3,627. This includes matching of purchase register with GSTR-2B, sales data with GSTR-1, identification of mismatches, and providing a detailed report with actionable recommendations for resolution.

Every regular GST taxpayer who claims ITC needs reconciliation. It is especially critical for businesses with high transaction volumes, multiple vendors, and those preparing for annual return (GSTR-9) filing or facing departmental scrutiny or notices.

Reconciliation ensures that the ITC you claim is valid and matches what your suppliers have reported. Mismatches can lead to ITC rejection, tax demand notices (ASMT-10), interest liability, and penalties. Regular reconciliation helps maintain accurate compliance.

Yes, you can reconcile data manually using Excel or automated tools. However, professional reconciliation services use advanced tools and expertise to identify mismatches efficiently, interpret complex data, and provide actionable solutions.