ExpressGST || Reconciliation of ISD Invoices in 2A/2B & PAN Level Reconciliation (DIY)

Reconciliation of ISD Invoices in 2A/2B & PAN Level Reconciliation

1. Overview

ISD reconciliation refers to the process of matching and verifying Input Tax Credit (ITC) distributed by the Input Service Distributor (ISD) with the credits received and accounted for by the respective recipient units (branches/locations). This ensures accurate ITC utilization and compliance.

 

2. ISD Reconciliation Process

Step 1: Import GSTR-2 Data

Begin by importing the GSTR-2 data into the software using one of the following methods:

1. Upload an Excel file containing your purchase data.
2. Import directly from Tally, if your accounting data is maintained in Tally.

Ensure the file structure matches the required format for successful import.

Step 2: Navigate to the “Books vs 2A/2B Annual” Section

After importing the data, go to the Books vs 2A/2B Annual section within the software.

      

Step 3: Select the “Invoice Wise Reco” Option

For detailed reconciliation:

1. Click Invoice Wise Reco.
2. The ISD reconciliation table is located below the B2B and IMPG reconciliation tables.
   

      

1. This option enables invoice-level comparison between your books and ISD data.
   

Step 4: Review Reconciliation Status

The system will categorize invoices as follows:

1. Matched: Invoices that match between your books and ISD data.
2. Partially Matched – Books Only: Some details (e.g., taxable value, GSTIN) match, but discrepancies exist in your books.
3. Partially Matched – ISD Only: Some details match in ISD data, but discrepancies exist in your books.
4. In Books Only: Invoices present in your books but not in ISD data.
5. In Portal Only: Invoices available on the ISD portal but not in your books.

 

3. PAN View & Client Master Dashboard

Accessing PAN View

Navigate to the PAN View section in the application to monitor company statuses and registrations based on their PAN.

3.1. PAN Dashboard

This dashboard allows you to:

1. View company statuses at a PAN level.
2. Compare registrations between the software and the GST portal.

3.2. Invoice-Wise Reconciliation in PAN View

This feature enables comparison of invoices recorded in books against GST returns. The status categories include:

1. Cross Matched: Invoices fully matched across entities.
2. Cross Partial Match: Invoices partially matched across entities.
3. In Books Only: Invoices present in books but missing in GST returns.
4. In ISD Only: Invoices present in ISD data but missing in books.
   

      

4. Benefits of ISD and PAN Level Reconciliation

1. Ensures accurate ITC reporting and compliance.
2. Helps identify discrepancies at both branch and PAN level.
3. Facilitates timely corrective actions to avoid penalties or ITC loss.

 

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