A global industrial equipment manufacturer automates its GST return filing processes using mavenTax
Maventic
MaventicAbout Client
The client is a global industrial equipment manufacturer that caters to the Instrumentation, Oil & Gas, Electrical Power Generation & Distribution sectors. In India, they have a presence across 10+ states.
Business Scenario
Before partnering with Maventic, the client relied on manual processes to file their GST returns across all the Indian states where it had a presence. These involved utilizing an offline tool provided by the GSTN (Goods and Services Tax Network), uploading it onto the GST (Goods and Services Tax) portal, and filing 30+ returns in a financial year.
Challenges
Manual processes involved in filing a large number of GST returns in a financial year resulted in
Solution
The client decided that the best course of action was to automate the way they were filing 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.
During this partnership, Maventic also identified that the client faced challenges, due to source data errors, on the day GST returns had to be filed. Maventic customized mavenTax to perform modifications directly on the platform by sidestepping SAP. This customization eliminated challenges related to editing source-level data, which was a much more tedious process.
Benefits
With mavenTax, the client can now avail of the following benefits:
