Authors: Sahil Dinesh Waghmode Patil, Abhjeet Bharati
Abstract: The Goods and Services Tax (GST) has significantly transformed the taxation system in India by introducing a unified and transparent framework. A crucial aspect of GST compliance is the reconciliation process, which involves matching financial records with GST returns to ensure accuracy in tax reporting and Input Tax Credit (ITC) claims. This study is based on primary data collected through a structured questionnaire administered to 100 business respondents, including accountants, tax professionals, and business owners. The research examines the effectiveness of the GST reconciliation process and its impact on business compliance. The findings reveal that while GST reconciliation enhances transparency and reduces tax discrepancies, it also increases compliance burden, especially for small and medium enterprises. The study concludes that technological adoption and simplification of procedures are essential to improve efficiency and reduce compliance challenges.
