Case Studies

Entire GST compliance for a Japanese conglomerate

The India office of a large Japanese conglomerate having worldwide setups wanted to establish a full stack GST compliance covering both sales and purchase. This they wanted to achieve just by a single connector each for Sales and Purchases so that their Global IT team did not spend much time in setting individual connectors for individual modules. Moreover, they also wanted a single snapshot of compliance from GL to Einvoice to Eway bill to GST Returns on the sales side and GL to Purchase register to 2A/2B data to Eway inward to GSTR 3B on the purchase side.

How Fynamics achieved this:
Fynamics setup just a single SFTP connector each for sales and purchases to auto flow entire data. The sales connector was set to Einvoice module and the purchase connectors to the 2A/2B recon module. Then, AI driven rules were built on the einvoice module (customized for this client without impacting others) to auto identify einvoice eligible transactions and flow them to the IRP and ignore the rest. After that, sync up tables were created with data specific rules that would auto migrate einvoiced and non-einvoiced transactions to Eway bill module as required (by considering HSN as goods, document types including delivery challans etc) and to the GST returns module. Thus the entire sales side data got auto populated for einvoice, eway bill and GST returns with just 1 single connector. Now, all these data were consolidated into a new “Controllership module” that could slice, dice and aggregate data analytics for the client defined leadership teams and CXOs who could view not just aggregate information but also exception reporting like “Eway bills not generated for valid einvoice transactions having goods line items” or “Eway bills generated for service transactions” or “einvoices generated but not present in GL” etc.

What value did it provide:
Having just 2 simple connectors for entire sales and purchase transactions greatly facilitated the setups at the clients IT end while their business team got access to einvoice module, the supply chain and warehouse team got access to eway bill module and the tax compliance team got access to GST returns & vendor recon module. Moreover, their leadership could access a single window of Controllership module for real-time and instant analysis of reporting gaps and compliance mismatches. This activity reduced their overall compliance effort by a whopping 60%.