Input Tax Credit Reconciliation
Find the credit you are entitled to before it lapses.
Input credit is the single largest number on most GST returns and the one most often wrong in both directions. Credit claimed that suppliers never reported is reversed with interest; credit available that was never claimed simply lapses.
Since section 16(2)(aa), credit is limited to what appears in GSTR-2B. The reconciliation therefore has to run every month against 2B rather than against the purchase register alone, with mismatches chased while the supplier still has an incentive to fix them.
The hard stop is 30 November following the financial year, or the annual return date if earlier. Credit not claimed by then is gone, and a year-end reconciliation frequently finds six figures of it.
What is included
- GSTR-2B matched to the purchase register, invoice by invoice
- Supplier default report with amounts named
- Ineligible and blocked credit under section 17(5) identified
- Claim position finalised before the November cut-off
What we need from you
- Purchase register with supplier GSTINs
- GSTR-2B for each period
- GSTR-3B already filed
- Purchase invoices for high-value items
Questions
What is the deadline to claim input tax credit?
30 November following the end of the financial year, or the date of filing the annual return, whichever is earlier. Credit not claimed by then cannot be claimed at all — there is no condonation.
Also in GST
Talk to us
Get started with Input Tax Credit Reconciliation
Tell us a little about the business and a chartered accountant will call you back. You will get a firm quote before any work begins.
- A qualified accountant on the call, not a call centre
- A firm quote before any work begins
- Your details are never sold or shared