Reconciliations

This involves reconciling sales transactions recorded in business records with the sales figures reported in GST returns, ensuring consistency and accuracy in sales reporting.

Purchase reconciliation involves verifying input tax credit claims by reconciling supplier invoices with the corresponding purchase transactions recorded in business records.

Output tax reconciliation focuses on aligning the output tax liability reported in GST returns with the taxable sales recorded in business records, ensuring proper calculation and reporting of tax liabilities.

Input tax reconciliation verifies the input tax credit claimed in GST returns by reconciling supplier invoices with the eligible input tax recorded in business records, ensuring accurate claim of credits.

Ledger reconciliation involves reconciling the general ledger accounts related to GST transactions with the corresponding figures reported in GST returns.

GSTR-2A reconciliation involves comparing the auto-populated GSTR-2A form with the purchase records maintained by the taxpayer to identify mismatches and reconcile input tax credit claims.

Initial Data Gathering and Preparation

Review of Financial Records

Identification of Reconciliation Targets

Matching and Comparing Data

Implementation of Corrective Actions

Monitoring of Reconciliation Progress