Get Your GST Reconciliation Done Easily

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Professional GST reconciliation can save you lots of time and money and safeguard you from potential penalties. Avail our services to be on the right side of the business.

What is GST Reconciliation?

GST Reconciliation is a process through which a taxpayer comes to know about the discrepancy between his books of accounts and GST Returns.

Moreover, with the help of GST Reconciliation, you can rectify the mismatches either by communicating with the supplier or doing changes in your own books of accounts.

In addition to this, you should carry out the GST Reconciliation process in a regular interval of time.This helps you to avoid any consequences and penalties that you may face due to mismatches.

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GST reconciliation when done professionally saves a lot of hassles while annual audits of the company are conducted.

Kinds of GST Reconciliation

Here is the list of most common kind of GST reconciliation that you must consider at the time of filing your GST Return:

  • Inward supplies and GSTR 2A reconciliation
  • GSTR 3B and the GSTR 2A reconciliation
  • GSTR 3B and GSTR 1 reconciliation

Mismatches Under GST Reconciliation

1. Mismatches in invoice details

There can be several mistakes in the furnished data between you and your supplier.Some of the common invoice details mismatches are wrong invoice number, invoice date or/and invoice value.

2. Mismatch in GSTIN

While doing GST Reconciliation this is the most common discrepancy.Sometimes due to human error, the supplier punches the wrong GSTIN. This may conflict while claiming ITC.

3. Why is GST reconciliation important?

  • First and foremost importance of GST reconciliation is to claim 100% accurate ITC.
  • GST reconciliation helps in avoiding duplicity at the time of filing Annual GST Return. However, to do this you need to reconcile all your monthly or quarterly GST Returns.
  • GST reconciliation helps in raising issues with invoices generated by your supplier, so to make necessary amendments to furnish errorless GST return.

4. Process of GST reconciliation

You may refer the following steps while reconciling your data:

  • To begin with, you should first reconcile within the GSTIN thoroughly
  • After this you should reconcile the data furnished to the PAN India level
  • After that, you should consider doing supplier-wise GST Reconciliation; this will ensure that you avail any unclaimed ITC

Note: In order to find out your ITC you have to compare your GSTR 2A with inward supplies

  • You can also reconcile the data furnished in the E-way Bill and invoices. This will help you to raise a mismatch in the taxable amount to the supplier in case of any discrepancy.

GST Reconciliation Pricing

We currently offer a single price model for this service:

  • 5 GST Filings Considered
  • 24/7 assistance
  • Dedicated executive

Frequently Asked Questions (FAQs)

Here are some the most commonly asked questions pertaining to this service:

How to download GST reconciliation?

To download GST reconciliation you have to follow these simple steps:
• Enter your username and click on Confirm GSTN Portal Username and Request OTP.
• Enter OTP and click on Login with OTP.
• Choose the checkbox for the period you want to download the report for, and click on Download from Government Portal.

Why do we do reconciliation?

Reconciliation is an accounting process that ensures that the actual amount of money spent matches the amount shown leaving an account at the end of a fiscal period. Individuals and businesses perform reconciliation at regular intervals to check for errors or fraudulent activity.

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