PwC’s GST Compliance Solution

As the GST journey progressed since its introduction on 1 July 2017, it resulted in a year of wrangling and debate whether GST proved to be a game changer or game spoiler. It paved the way for a single national market by merging plethora of central and state taxes into a common, fungible tax making it transparent and easy to administer.

The progressive GST model relies on technology to help make the process secure, smarter and faster. For businesses, this translates into the electronic filing of multiple monthly state-wise returns, transaction-level data upload, numerous reconciliations (revenue reconciliation, reconciliation with vendor details uploaded on GSTN invoice matching) and, at times, complex tax computation.

However, undoubtedly the periodic compliances under the GST regime was something that did not go so well during the year. In this period, compliance-related experiences of the GST have not been smooth and the Government had a daunting task of updating various functionalities ever since the portal was made operational in July 2017.

Though some technical glitches have more or less been fixed, there are still various issues that remain unaddressed. Procedural relaxations (such as postponing of returns and vendor reconciliations) have provided short-term relief but the compliance challenges are here to stay keeping in view of the constant amendments in return formats being introduced now.

Given the above, businesses today require not only a robust tax technology solution for processing their GST returns but also a strong partner who can help them through this process. Foreseeing that technology is inevitable for managing compliances, as a leader in tax technology services, PwC has successfully developed and implemented GST Compliance Solution customized with state-of-the-art technology. The solution has been running effectively for over 650+ Companies, wherein more than 65,000 returns have been processed till date.

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Technology is inevitable for managing compliances under GST…

Technology is inevitable for managing compliances under GST…

Achievements

650+

Companies

4,000+

GSTIN

65,000+

Returns processed

650 Mn+

Transactions processed

Un-complicate GST compliance with PwC’s GST Compliance solution

Global platform

Successfully implemented and running effectively across 29+ countries for 6+ years, now customized for India GST

Validation checks

150+ data validation checks to ensure factual as well as legal precision like duplication of invoices, check on the tax rules and, tax calculated on the invoice

Vendor reconciliation

Robust vendor reconciliation module for identifying any mismatch in input tax credit claimed vis-a-vis reporting done by the supplier with 6,000+ scenarios

Business intelligence

Extensive reporting/ business intelligence modules to provide relevant insights to concerned stakeholders

Configured work-flow

Flexible hierarchical structure and user access; configurable menu and data driven access

Audit trail

Audit trail for both internal as well as external stakeholders

Interface with GSTN

Seamless interface with GSTN for information upload/download

In-house developed

Developed and supported from India; Strong in-house Tax and Technology team to provide implementation and ongoing support

Seamless migration

Seamless migration from any existing ASP/ GSP provider; no need of providing data in any specified data template

Flexible integration: Multiple deployment models

Cloud Deployment 
(Managed by PwC)

  • Zero infrastructure related investments
  • Convenience of a monthly/annual subscription
  • Start using immediately
  • Flexibility to scale up number of users as required

Cloud Deployment 
(Privately managed)

  • Leverage existing or organisation licenses for cloud infrastructure
  • PwC will deploy the software on your cloud infrastructure
  • No hardware cost
  • Flexibility to scale up easily for increase in data/users

On Premise

  • Traditional set-up for gradually transitioning your workforce
  • Administration by your IT team
  • Upfront hardware and software cost (Software components as well as PwC's GST solution license cost)
Data transformation

Data transformation

Data mapping from various formats as may be used by the Company with no file format restrain

Seamless workflow

User-friendly workflow for data sanity and pushing the data to the GST portal

Data correction

Single report generated for rectification of errors on PAN India level

Multiple deployment models

Deployment of Solution can be per the requirement of Company, On-premise or on-Cloud managed by PwC

Strong tax team

Team comprising over 700 indirect tax professionals across India with requisite skill set

Conclusion

With the complexities of GST likely to persist, it is critical that you explore the use of technology to ensure timely and effective compliances and find a partner who is capable of supporting you on this journey. Our GST Compliance Solution has enabled customers in diversified businesses with a large number of registrations and transactions comply with GST efficiently.

Contact us

Pratik Jain

Partner and Leader, Indirect Tax, PwC India

Tel: +91 124 3306507

Dharmesh Panchal

Partner and Deputy Leader, Indirect Tax, PwC India

Tel: +91 22 6689 1455

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