GST ITC Reconciliation Errors
Definition
Vision exam documentation involves recording visual acuity tests (e.g., Snellen chart 6/6, 6/9 standards) and coding for billing. Poor coding causes GST invoice mismatches, denying Input Tax Credit.
Key Findings
- Financial Impact: ₹10,000-₹1 lakh ITC reversal per mismatch + 18% interest; 20-40 hours/month manual reconciliation
- Frequency: Monthly GSTR-3B filing
- Root Cause: Manual entry of vision exam codes without GSTIN validation
Why This Matters
The Pitch: Optometry clinics in India waste ₹50,000-₹2 lakh annually on manual GST reconciliation for vision exams. Automation of invoice coding eliminates ITC reversal risks.
Affected Stakeholders
Optometrist, Billing Staff, Clinic Owner
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
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Related Business Risks
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