Tax Intelligence Solution is KPMG’s data analytical solution using transactional data from GST returns and the ERP provides insights that enable businesses to improve underlying processes, find potential savings and detect errors and anomalies in data. The solution can look to transform data into insights in order to facilitate informed decision-making for business operations and acts like a digital health check from GST perspective.
Tax Intelligence Solution will help analyse and report several purchase and sales exceptions from ERP and GST data such as:
- Vendors who are being paid beyond 180 days (causing interest implications under GST)
- Sales invoices with a foreign supply of services to customers with GST
- Purchase invoices for materials where GST rates differs from the normal rate changed
Since it is developed using a ‘common data set’, it helps ensure that the data can be extracted from most ERP systems in India.