Reconciliation of ISD Invoices in GSTR-2A/2B

ExpressGST || Reconciliation of ISD Invoices in GSTR-2A/2B


ISD (Input Service Distributor) reconciliation is the process of matching and verifying Input Tax Credit (ITC) distributed by the ISD with the credits received and recorded by respective recipient units (branches/locations). This ensures accurate reporting and compliance under GST.

Step 1: Import GSTR-2 Data
Import the GSTR-2 data into the software using one of the following methods:
  1. Upload an Excel file containing the purchase data, or
  2. Import directly from Tally, if your accounting data is maintained in Tally.
Note: Ensure that the file structure matches the prescribed format for successful import.

Step 2: Access the “Books vs 2A/2B Annual” Section
After importing the data, navigate to the Books vs 2A/2B Annual section in the software.

      

Step 3: Select “Invoice Wise Reco”
Choose the Invoice Wise Reco option for detailed reconciliation.
  1. The ISD reconciliation table is positioned below the B2B and IMPG reconciliation tables.
      
  1. This feature enables invoice-level comparison between your books and ISD data, ensuring accurate matching.
Step 4: Review Reconciliation Status
The system will categorize invoices into the following statuses:
  1. Matched: Invoice details match completely between your books and ISD data.
  2. Partially Matched – Books Only: Certain 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 are present in your books but missing in ISD data.
  5. In Portal Only: Invoices are available on the ISD portal but not in your books.

Benefits of ISD Reconciliation
  1. Ensures accuracy in ITC reporting.
  2. Identifies mismatches and discrepancies promptly.
  3. Facilitates timely corrective actions to maintain compliance.
 

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