Why GSTR 2A Reconciliation

• Taxpayer can avail/setoff Input Tax Credit(ITC) on purchase, only if it is visible in GSTR 2A.
• The wrong claim of ITC is illegal and could attract both heavy interest and penalty.
• Not availing ITC on purchase can lead to burden on financial and cash flow.
• Paid GST liability in cash in place ITC cannot be claimed back resulting double loss.
• It keeps control on internal Book keeping. Also make sure that suppliers file their GSTR 1 return on time.
• It helps reminding suppliers, if they have done some mistakes in uploading their invoices.
• Strengthen Taxpayer`s financial situation.