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Three-Way ITC Reconciliation Workbook

Purchase register vs GSTR-2B vs IMS actions in one Excel workbook. Dropdown categorisation into five buckets, live countdown to the Section 16(4) November 30 deadline, and an auto-generated supplier follow-up list. Ships with illustrative data so you can see it working — replace with your ledger to run your own month.

What's inside — 5 components
Three-tab structure
Purchase register template, GSTR-2B input tab, and IMS action log tab — the three legs of the match, each laid out with the columns Indian finance teams actually paste from Tally/SAP/BUSY exports and the GSTN portal download.
Five categorisation buckets
Every line resolves to exactly one of Matched-Accept, Matched-Reject, IMS-Reject, Time-Barred, or At-Risk — dropdown-driven, no free-text categories to reconcile later.
At-risk queue with Section 16(4) countdown
Live countdown of days remaining to the November 30 deadline for the previous financial year, with all At-Risk lines auto-sorted by exposure so the biggest recoveries move first.
Supplier follow-up list — auto-generated
Pivot of unmatched and IMS-rejected lines by supplier GSTIN, sorted by days-aged and total exposure. Copy-paste-ready for a follow-up email round with your top offending suppliers.
Named ranges + XLOOKUP formulas
Every formula uses named ranges and XLOOKUP — readable by anyone comfortable with Excel, modifiable without unwinding VLOOKUP column offsets or nested INDIRECTs.
Illustrative data included. The workbook ships pre-populated with sample invoices, sample GSTR-2B lines, and sample IMS actions so every formula, dropdown, and pivot is visibly wired up when you first open it. A REPLACE WITH YOUR LEDGER DATA note sits on each input tab — clear the sample rows before pasting your own month.

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Where this workbook fits

This is the operational asset for one leg of a monthly close. Read the full recipe, the runbook it slots into, or the pillar the whole methodology sits under.

Three-Way ITC Reconciliation in Excel — Full Recipe
The step-by-step article the workbook operationalises: formula-by-formula walkthrough with worked examples.
GSTR-2B ITC Runbook — Days 11–15
The parent monthly runbook this workbook plugs into: what to do each day of the close-week five-day window.
Monthly Close Playbook — India Pillar
The umbrella methodology: how the GST leg fits alongside the bank, TDS, and platform-settlement legs of a monthly close.
Controller's Toolkit
Sibling free bundle: close checklist, variance-classification reference, CSV templates, calculator index.
GST Reconciliation Software
The automated equivalent — what a live 2B/2A/IMS reconciliation looks like when a workbook is not enough.

Frequently Asked Questions

Is the workbook really free?
Yes. There is no charge and no trial period. The download link appears immediately on this page after you submit the form — nothing is emailed to you first, and there is no waiting period.
What happens after I submit the form?
The download link appears immediately on this page — nothing is emailed to you first, and there is no waiting period. We use your details to send an occasional update on Indian reconciliation (statutory changes, new calculators, worked examples); you can ignore or unsubscribe from those at any time without losing access to the download you already have.
What if my ERP is not standard?
The workbook is Excel-native and system-agnostic. You paste your purchase register from whichever accounting system you use (Tally, SAP, Oracle, BUSY, Zoho, Odoo, or a raw CSV export) into the Purchase Register tab, drop your GSTN-portal GSTR-2B download into the 2B tab, and log IMS actions into the IMS Action Log tab. No integration, no macros, no add-ins — just three tabs and XLOOKUP formulas.
Disclaimer. The pre-loaded rows in the workbook are illustrative only — invented supplier names, invented invoice numbers, invented amounts — so every formula, dropdown, and pivot has something to compute against on first open. Replace with your ledger data before running an actual close. This workbook is a working template, not tax advice; verify categorisation decisions against your GST advisor or Chartered Accountant before filing.

When the workbook stops scaling

Excel handles a hundred suppliers cleanly and a thousand slowly. Past that — or once IMS needs to run continuously through the month rather than once at close — a live 2B/2A/IMS reconciliation makes sense. TransactIG configures in 2–4 weeks. ISO 27001:2022 certified.

Request a Demo GST Reconciliation Software →