In GST, purchasers are required to claim the Input Tax Credit (ITC) against the invoices uploaded by their suppliers
Purchasers are supposed to accept/ reject/ modify/add the invoices and submit their GSTR2
Sector Specific Guidance Note by CBEC
For this purpose in the regular cycle, time given is 5 days for checking the invoices of all suppliers and claiming the ITC for the purchases and filing the GSTR2
There are many scenarios of mismatches that can arise when a purchaser reconciles with supplier's invoices
In case of any incorrect claim or delay in the Availment of ITC, there could be working capital lock-ups/ penalties
To facilitate this JioGST has developed the 'Pre-Reconciliation' module
Pre-Reconciliation - Benefits
This process substantially reduces the burden of matching the records in the 5-day window given to file GSTR2
Pre-reconciliation can be run during the month before the actual 5- day window starts
Purchaser can download the mismatch cases and discuss with suppliers and resolve the mismatches and correct the records in advance
Purchaser can regularly upload their purchase invoices as per their purchase registers in JioGST along with the ITC Availment details