Cygnet Infotech > Case Studies > Achieved Efficient Indirect Tax Reconciliation

Achieved Efficient Indirect Tax Reconciliation

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 Achieved Efficient Indirect Tax Reconciliation - IoT ONE Case Study
Technology Category
  • Other
Applicable Industries
  • Oil & Gas
Applicable Functions
  • Business Operation
The Challenge

Challenges as follows:

  1. Struggled to determine: which tax (CGST/SGST/IGST) and how much tax was applicable on goods for import & export; tax based on Point of Supply (POS) mapping; certain businesses that are exempted under GST law
  2. Faced issues of duplication of invoices
  3. Identified risks related to the unavailability of the mandatory data as per GSTN format
The Customer
About The Customer

An oil and gas giant with capabilities of exploration & production and other oil retail services. Also, they are one of the global investors controlling assets across oil, gas, metal, mining, and infrastructure services

The Solution

Cygnet Solutions:

  1. Implemented a tailored GST-compliant SAP-integrated solution
  2. Enabled multiple access via Cygnet portal, mobile app, enriched and pass through APIs and on-premise module
  3. Enabled faster processing and distribution of invoices
  4. Simplified accurate reconciliation of GSTR-2A and purchase register
  5. Facilitated secured validation process while importing data & filing
  6. Created dashboards for better insights on pending returns, current month filing progress & more
Operational Impact
  • [Data Management - Data Security]

    Enhanced data security as per GSTN guidelines & global standards

  • [Efficiency Improvement - Customer Service]

    Strengthened relationship & built life-long business relations

  • [Data Management - Data Security]

    Secured data communication to monitor, track & rectify data

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