Auto-ITC Recon Process

We provide complete automation around input tax credit (ITC) reconciliation of purchase entries with GSTR 2A/2B data of the taxpayers in India through our ERP based cockpit solution. GST purchase invoices posted by the taxpayer are extracted automatically from all the relevant modules of the SAP & Oracle ERP.

On daily basis, GSTR2A data is refreshed in the ERP via GST APIs and the incremental GST purchase invoices posted by the user(s) in the ERP is reconciled with GSTR 2A/2B data. Detailed reconciliation report, categorizing purchase invoices into different buckets namely – matched, mismatched, probable match, missing, etc. is made available in the SAP & Oracle ERP. User can view & download the reconciliation report at any point of time.

For the discrepancies found in the ITC recon process, automated email communication can be triggered to the vendors highlighting any issue in their GST data reporting to the GST portal.

Our Input Tax credit recon report maintains details of documents which are to be matched in the subsequent GST return period. Purchase documents which are matched by the solution or accepted by the user are removed from the daily reconciliation loop and the eligible input tax credit from such documents can be directly fed into the monthly GST return (GSTR 3B) for claiming it from the Government.

Our Auto-ITC recon solution also supports Vendor payment management as it enables our clients to put restriction on the payment of the vendors who are not complying with the GST regulations and due to their non-compliance, the ITC of our client can be blocked, or they can be penalize by the GST authorities.

Solution has vivid payment decision matrices to put a control on vendor payments in case they are not following the GST regulations.

Vendor payment blocking program runs on auto-mode with no user intervention required, auto-clearance of the blocked payment is also done once vendors rectifies their data on the GST portal.

Our Auto-ITC recon & Vendor payment management solution is helping many of our clients automate ITC reconciliation process and save leakages from claiming rightful input tax credit.