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Amero NidhiKosh - Pre-Reconciliation Module

Amero NidhiKosh Introduces

'Pre-Reconciliation' Feature

Proactive Invoices & ITC matching

Pre-Reconciliation - The Need

  • 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
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