- No standard report available in ERP to analyse complete purchase data for GST compliances
- Lack of GST analytical tools to cover entire ERP data health-check from GST compliances perspective
- No clear view of tax information in summarised report/dashboard
- Voluminous transactions 10+ lakh accounted annually.
Challenges of tax/finance function
How our tech enabled managed services addressed the challenges?
- Pre-developed ERP data extraction programmes were deployed on company's ERP
- Company's ERP extracted data uploaded on analytical platform using cubing technology
- Pre-defined GST rules applied by the analytical platform on company's entire ERP purchase data and identification of dataset being exceptions to GST rule
- With the exception reports, company could get visibility of purchase pattern for taking corrective action from a GST compliance perspective.
Outcomes
- Immediate access to over 40 standardised indirect tax analytical tests to examine the information gathered
- Data visualisation and reporting tools to allow easy refinement of output and PAN India dashboarding/visibility
- Assist during GST Annual returns to cross check any purchase related non-compliances (e.g. beyond 180 days payment related ITC claim etc.)
- Exceptions lead to improved decision-making by identifying expensed out input tax credits and missed GST liability reporting on reverse charge applicable transactions.
