Party wise Reconciliation – While reconciling ITC as per 2A and ITC (B2B) as per books of accounts with the criteria of invoice number only, there are several problems being faced. Firstly, mismatch of invoice number due to minor clerical error in entering the invoice number in books, which led to mismatch of large number of invoices which is otherwise in match. Secondly, due to increasing compliances and time limitations, it is practically difficult to do this tedious task. Thus, this utility is developed which matches the ITC as per 2A and ITC (B2B) as per books of accounts with the criteria of GST number. This is an easy method to match the ITC in totality where the conditions of Sec. 16(2) are satisfied. This utility ignores invoice number and give reports on entire detail upto 10,000 line items, party wise (supplier wise) and gives various reports like match cases, only at portal, only in books and summary report on book vs portal. Moreover, the interface of this utility is made in such a manner that no expert knowledge required to use this utility. Additionally, it is a very useful tool for the GST auditors as well as for the compliance of Rule 36(4) with the help of graphics too. This is pertinent to note that the desired reports can be obtained within a minute.
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GOOD