GST Reconciliation with Books & 2B
GST reconciliation ensures that the details in your books of accounts, GSTR-1, GSTR-3B, and GSTR-2B (auto-populated input tax credit statement) match correctly. We provide reconciliation services to identify mismatches, claim eligible ITC, and avoid disputes with the department.
Why This Service Matters
- Prevents mismatches between returns and books.
- Ensures maximum claim of eligible ITC.
- Avoids unnecessary tax liabilities and penalties.
- Maintains accurate compliance for audits.
- Reduces chances of departmental scrutiny.
What is GSTR-2B and why is it important?
GSTR-2B is an auto-generated statement showing ITC available to you. It must match your books to claim credit.
What happens if there are mismatches in reconciliation?
Unmatched invoices may lead to ITC denial, extra tax payment, or notices.
How often should reconciliation be done?
Ideally, monthly or quarterly to ensure smooth GST filing.
Can past mismatches be corrected?
Yes, adjustments can be made in future returns before the financial year closes.
Is reconciliation mandatory?
Yes, as it directly impacts ITC claims and compliance.