Clear Max ITC

Our customers grow their profits by 7%

Did you know?

95% of Indian businesses claim less ITC

We help enterprises unblock working capital through 100% ITC claims, which most tax teams face a challenge with.

We work with your team to make sure no money is left on the table.

India's first end-to-end solution
to maximize ITC for businesses

We've unblocked over
₹ 9000 crores for 2500+ businesses

How do we make
it happen?

We connect directly to your accounting system

A two-way connect with your accounting system to schedule auto-recons of your GST data, and sync vendor payment decisions.

We then match data with 100% accuracy

Auto-reconciliations run in the background, if there is any missing data/invoices found, an automated communication is sent to your vendor.

You save on taxes and unblock working capital

With advanced data matching, vendor communication and intelligent reports, we help you save on taxes.

Maximize your ITC claim by putting your ITC on autopilot with us

Maximize your ITC claim by putting your ITC on autopilot with us

100%

Automation

100%

Compliant ITC claim

Why should your business suffer when your vendors do not comply?

Sub-optimal input tax credit management can impact profitability by up to 8%. We think that is a lot.

Request a demo  →
why

Check how much you can save

No. of GSTINs served by annual turnover

See what you
can save

Put your ITC journey
on auto pilot

Exclusive features that completely
automate the ITC claim process.

Manage Vendor Payments

Auto-manage payments using smart vendor risk categorisation

Vendor communication

One-click communication with vendors across email, WhatsApp

Real Time ERP sync

2-way flow with ERP to schedule auto-recon in the background

Cross-team collaboration

Seamless collaboration across IDT, Procurement and AP teams

AI-based matching

Minimise manual reconciliation with industry-leading engine

Intelligent reports

Smart suggestions to help you make decisions & avoid notices

The all-in-one Solution

Try the one and only comprehensive solution to claim maximum ITC automatically, powered by Artificial Intelligence!

Auto-manage vendor payments

Auto-manage vendor payments

Zero impact from non-compliant vendors using smart vendor risk sort & auto payment

Auto-manage vendor payments
Instant updates with 2-way ERP flow

Instant updates with 2-way ERP flow

Schedule Auto-Recon on Sundays, see the results in your mailbox on Monday morning!

Instant updates with 2-way ERP flow
Automate vendor communication

Automate vendor communication

Multi-channel vendor communication to simplify vendor interactions

Automate vendor communication
Define or modify user actions

Define or modify user actions

Allow teams to smoothly interact, without accessing confidential data with advanced UAM

Define or modify user actions
Configurable PAN-level Matching

Configurable PAN-level Matching

Avoid manual matching through highly configurable AI powered PAN level matching

Configurable PAN-level Matching

100% peace of mind

We were awarded a GSP license after rigorous scrunity of our technological and financial capabilities to serve our clients.

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Encryption

Your data is transmitted across SSL certified pathways. We are SOC 2 compliant.

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Privacy

We do not share your or your clients’ data with unaffiliated third parties for their ownpurposes.

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Data Storage

We use ISO 27001 certified data centres, which are quarterly VAPT tested and externally audited.

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Frequently Asked Questions

What is an input tax credit (ITC) under GST?

As per the CGST Act, the input tax in relation to a registered person is central tax, state tax, integrated tax or Union Territory tax charged on purchasing goods or services or both. The ITC also covers integrated tax charged on import of goods and GST paid on a reverse charge basis.

In simple terms, when paying GST on sales, you can reduce the tax that you have already paid on purchases and pay the balance amount.

What are the conditions for claiming ITC?

ITC can be claimed by a person registered under GST only if he fulfils ALL the conditions as prescribed:

  • The dealer should have a tax invoice
  • The said goods/services have been received.
  • The recipient has filed the GSTR-3B.
  • The tax charged in the invoice has been paid to the government.

Also, when goods are received in instalments, ITC can be claimed only when the last lot is received. No ITC will be allowed if depreciation has been claimed on the tax component of a capital good.

The recipient must pay the invoice amount within 180 days from the date of invoice. If the recipient fails to pay so, the amount taken as ITC should be reversed.

The time limit to claim ITC against an invoice or debit note raised in a particular financial year is earlier than the below:

  • Due date of filing GST returns for September of next financial year OR
  • Date of filing the annual returns relevant for that financial year

What are the various rules governing the ITC claim process under GST?

The following are the various sections and rules governing the ITC:

  • Section 16 of CGST Act: Explains eligibility and conditions for claiming Input Tax Credit (ITC).
  • Section 17 of CGST Act: Elaborates about Apportionment of credit and blocked credits.
  • CGST Rule 36(4): Explain provisional ITC and calculation of the same.
  • CGST Rule 42: Reversal of ITC on inputs or input services.
  • CGST Rule 43: Reversal of ITC on capital goods.
  • CGST Rule 86A: Conditions for utilising ITC.
  • CGST Rule 86B: Explain the restriction of usage of ITC.
  • CGST Rule 88A: Contains order of utilisation of ITC.

Why is ITC reconciliation required to be done?

Taxpayers will be able to claim ITC only if the invoice is present as a part of their GSTR-2B. Hence, taxpayers need to do a reconciliation to identify if ITC as per their purchase register and GSTR-2B data is matching.

Up to July 2020, taxpayers were comparing the GSTR-2A with the purchase register. Due to the introduction of static return in GSTR-2B, the monthly reconciliation has moved from GSTR-2A to GSTR-2B. However, for the yearly reconciliation, GSTR-2A, which is a dynamic return, is preferred. But as an exception, one must still refer to GSTR-2A for TDS and TCS credits.

The GST returns are filed either on a monthly or quarterly basis. Finally, annual returns must be filed after the financial year gets over, but before the 31st December of subsequent FY. This filing would need consolidation of the data reported over the FY. To ensure the correctness of the declaration made and to avoid duplications, taxpayers must reconcile the data, then consolidate the values and make the declaration.

What is the advantage of automated ITC reconciliation using AI-based tools?

The following are the few advantages of using AI-based tools for automated ITC reconciliation:

  • Import of data can be given from any source such as ERP, Excel, bill books, etc.
  • Minimises the manual efforts and time
  • Avoids data transcription errors
  • Ability to handle a massive amount of data
  • Allows deep reporting and provides valuable insights
  • It helps in claiming only eligible ITC as the tool is updated whenever there is a change in law

What is the importance of using GST comparison reports?

  • GSTR-3B vs GSTR-1 tax comparison report: Enables clients to understand the difference in the tax liability, which helps clients avoid inconsistencies between these two returns and avoid penalty/notice from GSTN.
  • GSTR-3B vs GSTR-2A and GSTR-2B ITC comparison report: Identifies excess ITC claims for each month and ensures that the taxpayers are prepared for any notice that comes their way.
  • Monthly Tax and ITC summary report: Gives month-on-month view for the top management on the tax paid, and ITC was taken by each of the GSTINs.

How does automating the vendor communication process help in minimising the impact on cash outflows?

The automatic vendor communication tool allows vendor communications and seamlessly tracks vendor communication by having all communication channels packed into one. It sends automated communication to vendors and reduces follow-up efforts to the least. It helps in identifying non-compliant vendors and empower them to comply. Also, it nudges quarterly vendors to use the IFF.

How are the benefits of two-way integration with the ERP?

The two-way integration tool pulls the purchase register from the ERP, GSTR-2A and GSTR-2B. One can schedule the auto-reconciliations and sync payment decisions for each invoice back into the ERP automatically. Also, these features can be used for taking actions in bulk.

How can you ensure that your vendors comply with uploading invoices?

  • Creating an indemnification clause: Before making a supply, as part of the supply agreement, a clause can be inserted where the supplier will be required to indemnify the recipient in the event the supplier fails to carry out the necessary compliance requirements, resulting in a loss of credit to the recipient.
  • Compliance software: A software or application can be put in place, containing relevant details for every vendor, which helps with compliance by keeping track of the invoices, showing return-filing status, sending out due-date reminders, etc.
  • Incentive system: An incentive system for the vendor could be developed where he is encouraged to file his returns on time and pass on the necessary credit. However, this could result in an increased cost to the recipient.
  • Boycotting defaulting suppliers: The suppliers who commit such compliance defaults repeatedly could be boycotted either by reducing orders placed with them or refusing to deal with them altogether. However, this option could hamper business relationships.

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