Under GST regime, input tax shall be available for adjustment only if there is a matching output tax entry which is made by the respective supplier. In case there is a difference in transactions recorded by both the parties, tax credit will not be allowed which will trigger additional tax burden on the receiver. An invoice may be mismatched for following differences:
1. GSTIN of supplier
2. GSTIN of recipient
3. Invoice No & Date
4. Tax Amount
Input Credit can be claimed by the receiver based on the invoice received even if the details were not matched with the entry made by supplier in the month of return filing. However, such invoice must be matched with the outward details of the supplier in the return filed for subsequent month. If not matched then the input credit claimed in previous month shall be added to the GST liability of receiver.
Our team will act as a bridge between your organization and your vendor’s or your customer’s to clear the mismatch issues so that proper input tax credit is passed to you. We shall inform your vendors about the mismatch & make a connect with your vendor’s finance team by all means of communication viz calls, e-mails and SMSs. We shall match the details submitted by both the parties with the concerned invoice and shall raise modification through Form GSTR-2A.
We will pursue resolving the issue till it gets cleared by regularly reminding your vendor to correct the mistake. Our team’s endeavor will be to resolve the issue 2 days prior to the filing of Form GSTR 3. In case an issue is not sorted within stipulated time we shall intimate you and will keep the issue as “PENDING” till the filing of next months return and shall follow the same process again.
We shall further grade your vendors on the basis of time taken for resolving the mismatch issue, cooperation and willingness from their team which will ultimately help you in setting up the terms with their vendors.