GST & ITC Reconciliation
Differences between GSTR-2B, purchase registers, vendor records, and accounting data.
GST & Construction Finance Consulting
Take Control of Your Finance. Resolve GST Complexities. Make Better Decisions.
With 23+ years of Finance & Accounts experience across construction and manufacturing, I help businesses strengthen financial controls, investigate GST reconciliation issues, improve project cost visibility, and prepare decision-ready management reports.
23+ Years of Finance & Accounts Experience|Construction & Manufacturing|GST & Financial Controls
Client Problems I Investigate
Are These Challenges Affecting Your Business?
GST Notices & Audit Readiness
Organising invoice-level evidence, identifying disputed items, and preparing structured issue-wise responses for professional review.
Construction Project Profitability
Limited visibility into WIP, actual costs, estimated cost to complete, and forecast final margins.
Billing & Collections
Uncertified bills, overdue receivables, retention amounts, and gaps between billing and cash realisation.
Financial Controls & MIS
Inconsistent reports, manual reconciliation, missing data, and delayed management insights.
AI-Powered Finance Workflows
Opportunities to improve repetitive analysis, exception tracking, reporting, and finance documentation through controlled AI-assisted workflows.
Let's identify the financial issue that needs attention.
Take the Next Step on WhatsAppConsulting Services
Focused Support for the Finance Problems That Cost You Time and Clarity
Each engagement is scoped individually after understanding your records, systems, and the specific issue. Scope, fees, timelines, and deliverables are agreed in writing before work begins.
GST Reconciliation & ITC Review
A structured review of input tax credit position, invoice-level mismatches, and supporting evidence.
Scope
- GSTR-2B versus purchase-register reconciliation
- Invoice-wise mismatch classification
- Vendor and document verification
- ITC exception registers
- Supporting evidence organization
- Issue-wise review summaries
ITC eligibility and tax positions depend on applicable law, source documents, and the individual facts of each case. This service supports analysis and documentation; tax positions must be verified with your tax advisor.
GST Notices & Compliance Support
Organising notice responses issue by issue, with reconciled numbers and a documented evidence trail.
Scope
- Notice issue identification
- Tax-period and amount reconciliation
- Evidence checklist preparation
- Applicable legal provision research
- Draft reply and supporting annexure preparation
- Exposure and response-option analysis
This service does not promise notice cancellation, tax savings, or a favourable departmental outcome. Final replies should be reviewed and signed off by your legal or tax professional.
Construction Project Finance
Project-wise financial control: WIP, cost to complete, and where margins are actually going.
Scope
- Project-wise profitability
- WIP and cost monitoring
- Cost-to-complete analysis
- Budget versus actual
- Margin deterioration analysis
- Contract and project financial review
Billing, Collections & Working Capital
Closing the gap between work done, bills raised, and cash actually received.
Scope
- Billing versus collections
- Receivables ageing
- Retention and disputed receivables tracking
- Cash flow visibility
- Vendor and subcontractor liability analysis
- Working capital reporting
Finance MIS & Excel Dashboards
Decision-ready management reporting built on reconciled, traceable data.
Scope
- Management reporting
- Interactive Excel dashboards
- Financial reconciliation tools
- Project performance reports
- Exception registers
- Executive decision-support summaries
AI for Finance & Taxation
Controlled, human-reviewed AI-assisted workflows for repetitive finance analysis.
Scope
- AI-assisted financial analysis
- Structured document review workflows
- Exception identification and classification
- Automated reporting concepts
- Reusable finance prompts
- Evidence-based human-reviewed outputs
Proposed offering under development. Not a live product, and not yet deployed with any client. Engagement concepts are discussed case by case.
How I Work
An Evidence-Based Approach to Finance Problems
Understand the problem in your terms
A structured enquiry first: what the business question is, which records exist, which systems produced them, and what decision the answer should support.
Verify the data before the analysis
Reconcile sources and confirm cut-off dates before drawing conclusions. Analysis built on unverified data produces confident, wrong answers.
Classify exceptions, not anecdotes
Differences are classified into a closed, defined set of categories with owners and follow-up status — so month-on-month progress is measurable.
Deliver evidence-backed, decision-ready output
Working papers with traceability, issue-wise summaries, and dashboards your team can maintain — not a presentation that cannot be reproduced.
- Evidence before conclusions
- Scope, fees, and deliverables agreed in writing
- Analysis your team can re-run, not black boxes
- Clear limits on what each review can and cannot establish
About
B. Mohan Babu — AGM, Finance & Accounts
Over 23 years of hands-on Finance & Accounts experience in construction and manufacturing — project financial control, GST reconciliation and compliance support, working capital management, and management reporting. I work directly with finance heads, business owners, and site teams, and I distinguish clearly between what a review establishes and what requires your tax or legal professional.
Join B. Mohan Babu on WhatsAppDemonstrations
What the Analysis Actually Looks Like
Illustrative walkthroughs of three engagements, showing the business question, the inputs, the analysis, the exceptions found, and the recommended next steps.
ILLUSTRATIVE DEMONSTRATION — NOT ACTUAL CLIENT DATA OR RESULTS.
GST Reconciliation Review
Business question: Why does the input tax credit in our books differ from the credit reflected in GSTR-2B, and which differences need vendor follow-up?
Inputs
- · GSTR-2B statement for the review period (illustrative sample)
- · Internal purchase register with invoice-level detail
- · Vendor master with GSTIN mapping
Analysis
Each invoice line is matched between GSTR-2B and the purchase register on GSTIN, invoice number, and tax amount. Differences are classified into a closed set: missing in 2B (vendor not filed), missing in purchase register (booking gap), amount/GSTIN mismatch, or duplicate. The table below shows a sample of the resulting match status.
Exceptions found
- · Vendor non-filing: 2 invoices (₹41,200 ITC) present in purchase register but absent from GSTR-2B — vendor follow-up required
- · Booking gap: 1 invoice present in GSTR-2B (₹18,000 ITC) not recorded locally
- · GSTIN mismatch: 1 invoice booked against a different registration of the same vendor — reclassification needed
- · Duplicate: none in this sample
Next steps
- · Follow up with vendors whose invoices are missing from GSTR-2B and track filing status
- · Correct local booking gaps in the appropriate period
- · Reclassify invoices booked under the wrong GSTIN
- · Re-run the match after corrections and carry forward open items in the exception register
| Invoice | GSTIN | 2B ITC (₹) | Books ITC (₹) | Status | Action |
|---|---|---|---|---|---|
| INV-1042 | 29AAAC… | 18,000 | 18,000 | Matched | None |
| INV-1109 | 27AABF… | — | 22,400 | Missing in 2B | Vendor follow-up |
| INV-1155 | 33AACD… | 18,800 | 18,800 | Matched | None |
| INV-1201 | 36AAAF… | — | 18,800 | Missing in 2B | Vendor follow-up |
| INV-1233 | 29AAAC… | — | 18,000 | Missing in books | Correct booking |
| INV-1287 | 06AABB… | 12,600 | 12,600 | Matched | None |
| INV-1302 | 24AAGH… | — | 21,340 | GSTIN mismatch | Reclassify |
Illustrative sample only. ITC eligibility depends on applicable law, source documents, and the facts of each case — a reconciliation identifies candidates for review, it does not establish eligibility.
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Structured Notes on GST, Project Finance, and Reporting
These articles are general educational material, current as of the date shown. They are not case-specific professional advice and do not create a client relationship. For your own facts, verify positions against the latest primary sources (such as notifications and circulars at cbic-gst.gov.in) and consult your tax or legal professional.
GST ITC Reconciliation Controls: Building a Repeatable Process
Why GSTR-2B, purchase registers, vendor records, and books diverge — and the control points that keep input tax credit reconciled month after month.
Read articleResponding to GST Notices: A Structured, Issue-Wise Approach
A repeatable structure for identifying issues, reconciling amounts and periods, assembling evidence, and preparing a draft reply for professional review.
Read articleConstruction Cost-to-Complete Monitoring Without the Guesswork
How to build a cost-to-complete estimate that actually forecasts final margins — budgets, actuals, commitments, and the discipline of updating estimates.
Read articleConnect on WhatsApp
B. Mohan Babu’s Finance & GST WhatsApp Group
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