Topic
Input tax credit
The conditions for claiming input tax credit, the credits that are blocked, and how reversals work.
Articles
Input tax credit, explained.
GST GSTR-2B vs GSTR-3B Reconciliation: How to Match ITC GSTR-2B vs GSTR-3B reconciliation checks that the ITC you claim in Table 4 of GSTR-3B agrees with GSTR-2B, with every difference explained. OneFinOps Editorial 3 min 
GST What is Input Tax Credit in GST? Conditions, Example and Rules Input tax credit is the GST paid on business purchases that you deduct from the GST you owe on sales, if the section 16 conditions are met. OneFinOps Editorial 3 min 
GST GST Reconciliation: Meaning, Types, Process and Excel Format GST reconciliation is matching your books with GST returns: sales with GSTR-1, purchases with GSTR-2B, and both with GSTR-3B, before you file. OneFinOps Editorial 3 min Glossary
The terms you will meet.
Input tax credit Input Tax Credit (ITC) A mechanism that allows businesses to claim credit for GST paid on purchases and expenses, reducing their overall output tax liability. Also called input credit, GST input credit, input tax credit under GST Input tax credit Reverse Charge Mechanism (RCM) A GST provision where the recipient of goods or services is liable to pay the tax instead of the supplier. Also called reverse charge, reverse charge under GST
See it in the product
Input tax credit, in the product.
Tax & ComplianceGST ComplianceGSTR-2B reconciliation nightly. GSTR-1, 3B, 9, 9C drafted from your books. ITC eligibility tracked. Multi-state, multi-GSTIN, multi-country.GST ComplianceITC ManagementEligible vs ineligible ITC tracked per invoice. Reversal triggers (Rule 42/43) automated.GST ComplianceGSTR-2B ReconciliationThree-way matched against your purchase register and ERP, every night. Vendor non-filers flagged.GST ComplianceRCM ComplianceRCM bills tagged. Self-invoice generated. GSTR-3B populated correctly.Expense ManagementGST ITC on ExpensesGSTIN-attached invoices captured; eligibility validated; flows to GSTR-2B recon.DomainFinancial ManagementAccounting, Accounts Payable, Accounts Receivable, Banking and Cash, Tax and Compliance, Financial Reporting