Client challenges

The client’s GST process had become difficult to manage as purchase volumes, vendor count, and multi-state transactions increased.

• GST returns were often prepared close to the deadline, leaving little time for review
• Purchase invoices were not consistently validated for GST correctness
• GSTR-2B was not reconciled regularly with the purchase register and books
• Input Tax Credit mismatches resulted in blocked or under-utilized credit
• Vendors delayed invoice corrections and GST portal uploads
• The company had no centralized view of GST liabilities, credits, and filing status
• GST notices created uncertainty and diverted senior management time
• Records were maintained across email, Excel sheets, and accounting software
• The business faced exposure to interest, late fees, penalties, and audit observations

Regular reconciliation between books, purchase records, and GSTR-2B is essential to identify discrepancies early and protect eligible Input Tax Credit

Wisecor Solution

Wisecor deployed a dedicated GST compliance team to assess the client’s existing process, correct historical gaps, and establish a disciplined monthly compliance cycle.

Key Interventions

• Conducted a detailed review of past GST filings, notices, ITC records, and vendor documentation
• Created a GST compliance calendar covering monthly, quarterly, and annual obligations
• Standardized vendor invoice collection, GST validation, and document-checking procedures
• Reconciled GSTR-2B with purchase registers and books of accounts every month
• Identified ineligible, duplicate, and reversed ITC and corrected reporting treatment
• Followed up with vendors for invoice corrections, credit notes, and GST portal uploads
• Prepared accurate GSTR-1 and GSTR-3B filings with supporting reconciliations
• Introduced review and approval controls before every GST filing
• Built a centralized GST documentation repository for notices, invoices, returns, and reconciliations
• Provided advisory support for GST notices, refunds, ITC issues, and compliance planning

Wisecor’s solution focused on reconciling GSTR-2B with purchase records, verifying ITC eligibility, preventing duplicate credit claims, and ensuring applicable reversals were correctly reported in GSTR-3B

Outcome

• All pending and ongoing GST returns were brought under a structured filing process
• Monthly GSTR-1 and GSTR-3B returns were filed accurately and on time
• GSTR-2B reconciliation became a mandatory monthly control
• ITC mismatches were identified, tracked, and resolved systematically
• Vendor invoice compliance improved through timely follow-ups and escalation
• GST notices were addressed with proper documentation and timely responses
• The company gained clear visibility into GST liability, eligible credit, and filing status
• Management received monthly GST reports and compliance dashboards
• The company became better prepared for audits and future GST scrutiny

Impact

• Reduced compliance risk: Timely filings and stronger review controls reduced exposure to penalties, interest, and notices
• Improved cash flow: Systematic ITC reconciliation helped protect and utilize eligible Input Tax Credit
• Lower administrative burden: The internal team spent less time chasing vendors, reconciling data, and responding to GST queries
• Greater filing accuracy: Standardized checks reduced errors, mismatches, and last-minute corrections
• Audit readiness: Organized documentation and reconciliation reports improved audit preparedness
• Better management visibility: Leadership received clear monthly insight into GST liabilities, credits, and compliance status
• Scalable compliance process: The framework could support higher transaction volumes, new vendors, and additional GST registration