जीएसटी ITC मेल न खाने पर दंड
Definition
Contract reconciliation failures in farm wholesale trigger GST ITC reversals during audits, especially with variable basis pricing not matching supplier GSTR-1.
Key Findings
- Financial Impact: ₹10,000 minimum penalty per mismatch + 18% interest; ITC denial of ₹50,000-5 lakh per quarter
- Frequency: Quarterly audits and annual GST scrutiny
- Root Cause: Manual verification delays for basis price adjustments against GSTR-2B auto-populated data
Why This Matters
The Pitch: Wholesale Raw Farm Products firms in India 🇮🇳 pay ₹10,000-1 lakh penalties per mismatch on contract reconciliation. Automation resolves GSTR-2B flags instantly.
Affected Stakeholders
Finance Controller, Tax Consultant, Audit Team
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
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