A global fastening & assembly solutions manufacturer automates & customizes its GST return filing processes using mavenTax
Maventic
MaventicAbout Client
The client offers innovative fastening and assembly solutions for the automotive, industrial, photovoltaic energy, agriculture, and health sectors worldwide. The company has a presence across three states in India.
Business Scenario
Before partnering with Maventic, the client relied on a web-based third-party application to file its GST returns. This process, which was still manual, involved utilizing an offline spreadsheet provided by the third party to fill in the information, uploading it on their portal, and filing returns for the period.
Challenges
Manual processes involved in filing a large number of GST returns in a financial year resulted in:
Additionally, third-party servers stored confidential client information which put data security at risk.
Solution
The client decided that the best course of action was to automate how they filed their GST returns. After evaluating a few SAP GST partners, they selected Maventic’s product, mavenTax, for this purpose.
With the help of mavenTax, the client could pull data from its SAP FI and SAP SD modules through an automatic schedule mechanism, view a summarized version of this information at both an invoice and an item level and file their GST returns with a single click.
The client also had specific criteria associated with its invoices from the SAP FI and SD modules, such as banking charges, GST on employee benefits, and other scenarios specific to its business processes. Maventic developed these customizations on mavenTax to enable the smooth filing of returns without any manual interventions.
Benefits
With mavenTax, the client can now avail of the following benefits:
