Did you know businesses miss out to claim ITC on approximately 3% of their Invoices? Businesses believe that their return filers are already matching the same. The reality is far from belief.
If you are filing returns by yourself there is almost 70% a chance that you miss out the ITC. If you are filing it through a consultant, these chances reduce drastically. There are still chances where the ITC is missed out. If you think you have everything covered up, here are the list of parameters where you can easily miss out your ITC.
Your invoices should be checked on these parameters.
- Have you accounted for all invoices as mentioned in GST Portal?
- Have you taken input Tax credit for the accounted Invoices?
- Whether credit has been taken under the right head i.e. SGST, CGST, and IGST?
- Whether the correct amount of ITC has been entered?
- Is any invoice entered twice in books and credit wrongly availed twice?
- Has your supplier uploaded the invoice on the GST portal?
- Have you accounted for all debit and credit notes?
- Have you availed of any wrong credit?
- Have you missed any genuine credit?
- Have you paid adequate RCM?
- Have you taken ITC of RCM paid?
Pffff!!! My Accounts are already perfect.
If you think So, and we are confident based on our experience. Thus, we take only 50% advance payment before services , we will forgo the other 50% if we cannot find any errors.
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Since we are sure that most businesses take care of these, they either don't do this thoroughly or they don't check every parameter that is necessary. This results in huge tax payments due to credits forgone, ignored or lost.
If you want to claim and do it by yourself, just visit this link and follows the steps mentioned.How to Claim 100% GST ITC for Business and Reconcile your ITC
However, we firmly believe that you will still miss out certain ITC. and spend time more then what is certainly required.
How can we help you
Owners are already occupied in business activities and rely on work done by accountants. This results in a loss of huge Tax credits to businesses. We, as professionals can provide you with the requisite results in a very cost-effective pricing.
We already support Accounting in Tally, MARG ERP, Busy Accounting and Online Accounting Software’s such as Quick Books and Zoho Books. We do the entire process in a very cost effective method performed by out experts. It would be a simple process.
Pricing and Plans
GST matching is time-consuming and requires professional skills and knowledge of GST Law. Our Plans are this catered based on the amount of time dedicated and financial viability to the Business. Our Simple Pricing plans are based on the number of Invoices to be matched.
18% GST to be charged separately.
Payment terms : 50% Advance, 40% upon completion of work and 10% upon submission of reports.