Business Challenge – Meet Demands and Improve Manufacturing Efficiency
The Goods and Services Tax (GST) enacted in India required many companies to find a technology solution to keep up with high volume of daily transactions. This involved B2B, B2C, SEZ, and exports. A Maharshtra based automobile manufacturing company was majorly disrupted by the implementation of India’s GST. Finding the right software solution was essential in creating a smooth transition period, maintaining GST compliance and meeting customer needs.
Software Solution – Avalara GST Compliance Suite
Eventually, the automobiler decided to partner with Avalara India GST. They made this decision due to Avalara’s advanced features. For instance, their features made it easy to handle transaction segregation efficiently. Tax automation services also made it possible to significantly reduce tax return filing time.
The implementation of India’s GST required the company to file taxes and claim tax credits online. The company realized they needed a tax returns filing solution that used cloud technology. The manufacturer also required a comprehensive tax automation service. This was essential for uploading sales invoices, validating input data, managing business units, tracking input tax credit, and reconciling any invoices with several counterparties.
The company decided to use Avalara India GST for daily handling of their large volumes of transactional data. Meanwhile, it also helped in maintaining their master data for the different business units in other areas of the country. Using the Avalara India GST transaction modules enabled the manufacturer to differentiate between various transactions. This included B2C, B2B, SEZ, and export. This software solution also helped with other activities. For example, these activities involved tracking input tax credit, reconciling invoices, and automating GST return filing.
The Results – Greater Efficiency and Peace of Mind
Partnering with Avalara India GST made it possible for the company to remain GST compliant in relation to the government rules. Additionally, the company didn’t have the hassle of GST return filing or managing invoice data reconciliation. Using this technology provided more opportunities for the business to focus on growth rather than performing manual tasks.
Ensuring the accurate invoice data and timely tax return filing are essential to remain in compliance with GST. Due to its efficiency, Avalara reduced GST return filing time by nearly one-third. The company can also access any reports related to GST return in a single click, which is much more convenient than using the previous system.
Avalara also plays a vital role in helping the automobiler remain future-ready by keeping up with all changes related to government regulations. Using Avalara India GST made it possible for this global equipment manufacturer to become a one-stop solution for staying in compliance with India’s Goods and Services Tax.