Essential ITC Management Strategies to Minimise GST Notices
By CA Khushboo Thirani, Tax Expert | Apr 29, 2024
Being a Chartered Accountant, her practical experiences does not limit to Finance & taxation. Working in a start-up with cross functional departments, have widened her experiences in the field of Business Development, Product Development and Key account Manger roles thereby leading her keen interest in the Business roles thereafter and contributing towards revenue growth of the company
About the Webinar
GST authorities continue to issue show cause notices to companies for discrepancies in Input Tax Credit (ITC) claims, prompting scrutiny of annual returns against monthly filings. Your enterprise’s ITC claim process is complex, with cash loss and risk hidden from you! Manual interventions in ITC claims and reversals always have low matching results with inaccuracies, leaving money on the table. Hence, it is crucial to plug gaps in the ITC claim process to safeguard your enterprise from potential notices/departmental audits. Secure your spot at our upcoming webinar to gain insights on the best practices and strategies to foolproof your enterprise from potential ITC notices and penalties.
Things we will discuss
Understanding the ITC Reporting Framework: Gain insights into the foundational elements of ITC reporting to enhance your compliance processes.
Deep Dive into Changes in Table 4 Reporting: Explore recent modifications in ITC reporting requirements, suitable workflows and their business implications.
Best Practices for Accurate ITC Claims: Learn effective strategies to maximize your ITC benefits accurately and efficiently.
Reporting Timely ITC Reversals: Discover methods to ensure timely and accurate ITC reversals, avoiding common pitfalls.
Reconciling ITC Differences: Address discrepancies between GSTR-2B and GSTR-3B to achieve compliance assurance.
Tried and tested solutions by Clear to automate ITC claim process
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
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