Webinar

“How to maximise ITC claims with annual reconciliation?"

Brief

With GST-ITC fraud cases up 41% from April 2024 to January 2025, businesses can expect heightened scrutiny from tax authorities. Accordingly, maximising Input Tax Credit (ITC) claims through precise annual reconciliation is more critical than ever.

Annual reconciliation plays a pivotal role in ensuring that businesses capture every eligible ITC while remaining compliant with evolving tax regulations. Businesses can detect discrepancies, identify missed credits, and rectify errors before they escalate into compliance issues by carefully matching records from purchase invoices, GST return filings, and vendor records with the Invoice Management System (IMS). This process not only safeguards against potential penalties but also unlocks substantial financial value.

Team Clear has organised an exclusive session on why ITC reconciliation has become a key priority in today’s complex tax landscape. We’ll explore how annual reconciliation helps uncover discrepancies, ensures compliance, and ultimately boosts tax recovery. Learn how to take control of ITC claims and drive greater financial accuracy with a well-structured reconciliation strategy.

Pointers :

  • Why ITC Reconciliation is Crucial: Considering year-end, understanding the growing need for timely and accurate reconciliation
  • Identifying and Addressing Discrepancies: Proactive approaches to detect and resolve reconciliation issues.
  • Mitigating Audit Risks: Best practices for preparing for audits and avoiding penalties.
  • Enhancing Financial Control: Strategies for CFOs to align ITC recovery with broader financial goals and compliance strategies.
  • Tech-led Transformation in ITC Claims for GST compliance assurance with Clear’s Solution.
  • Live QnA

Thought Leader :

Shailja Sood

Tax Expert

Clear Tax

Speaker Bio :

Highly qualified Chartered Accountant with over 5 years of post-qualification experience specializing in Indirect Taxation. Demonstrated expertise in handling a wide range of responsibilities, including comprehensive compliance management, client relations, contract review, litigation support, and strategic tax planning. Adept at providing insightful advice to clients on key areas such as Goods and Services Tax (GST), Customs regulations, and State Incentives.