Auto-ITC recon

Auto-ITC recon

We provide complete automation around input tax credit reconciliation with GSTR 2A and GSTR 2B data of the taxpayers. GST purchase invoices posted by the taxpayer are extracted automatically from all the relevant modules of the ERP and validations are run on the extracted data to make sure they all the GST regulations are following while booking purchase entries. On daily basis, the incremental GST purchase invoices can be validated and reconciled with GSTR 2A/2B data to confirm the ITC receivable register. For the discrepancies found in the ITC reconciliation process, automated communication can be triggered to the vendors via e-mail and whatsapp. Vendor can also provide their responses back on the query raise on their sales data uploaded to the GST portal. The solution also supports auto-blocking of vendor payments based on the ITC reconciliation results and related GST compliance parameters of the vendor. Solution has vivid payment decision matrices to put a control on vendor payments in case they are not following the GST compliance regulations as set by the Government.