A Complete Automated Solution for GST Return Filing for a Large Pvt Bank

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A Complete
CASE STUDY

• Automated Solution for GST Return Filing for a
  Large Pvt Bank

www.cygnetgsp.in
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CLIENT A PRIVATE BANK The client is a World
Class Indian Private Bank o"ering banking
services to retail and wholesale customer agents
through a sound network of customer franchises.
The bank has a distribution network of close to
5,000 branches across 2500 cities and a network
of 12,500 ATMs across India. The bank is known
to maintain the highest level of ethical
standards, professional integrity, corporate
governance and regulatory compliance.
THE CHALLENGES The bank having several branches
across the country faced a huge challenge of
manual data processing for generation of data
for GST return filing. A total of 128 GSTINs
returns to be filled (GSTR-1 and GSTR-3B for
each GSTIN every month) where transaction
volumes were very high. Manual uploading of JSON
files on GSTN portal for all 128
GSTINs Rectifying the errors and then
re-uploading the JSON files multiple
times Manually reconciling the transactions, the
ones uploaded on GSTN portal and the data
available in banks source systems Manually
reconciling GSTR2A data with purchase data for
all the 128 GSTINs Missing values and fields in
purchase data impacting the reconciliation
activity Purchase data not as per standard
reconciliation requirements
BUSINESS SCENARIO The onset of GST required all
the organisations with multiple branches and o
ces across the country to build robust tax
filing systems so that returns get filed in
timely and accurate manner with ease. Especially
reconciliation of vendor records needed a
scalable yet accurate and automated solution.
With well networked bank branches across the
country the bank had a requirement of filing
huge number of GST returns for all the
registered GSTINs. Being a process oriented
organisation it required high degree of
sophistication in the monthly GST return filing
process. GST basically requires generation and
recording of every small transaction that takes
place in the organisation even if it is
inter-branch. There was a need to make sure that
every data is captured and presented in a manner
that is useful for filing GST returns and take
care of identifying errors and mismatches for
reconciliation for huge volume of transactions.
www.cygnetgsp.in
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THE CYGNET GSP COMPREHENSIVE SOLUTION
At Cygnet we have designed an implementation
methodology TRACE which is comprehensive and
tailored to specific client needs. It extracts,
validates, processes, reconciles and reports the
financial tax data from your systems and
prepares your GST returns for filing them on
GSTN portal. We call them Lego Building Blocks
of our solution architecture.
Our LEGO Logic - We all know Lego blocks and have
created numerous structures using them in
creative ways. Similarly, we at Cygnet use our
array of software components, utilities,
programmes, connectors and such to tailor a
perfect solution to extract data from client
systems and make it GST compliant and ready for
filing GST returns. The main aim is to ensure
that there is a connection between the source
systems and the GSTN portal through a system-
atic processor that converts data into a
standardized format.
TRACE Tax Reporting Automation Compliance With
Ease.
Data Mapping, Massaging Sync Tool
Data ETL Tools
ASP
Data Warehouse
Source System
GSTN Portal
Accounting and Invoice Management
The di"erent components used are Data
Extractors These intelligent connectors perform
the extract, transform and load function for
extracting data from source systems. We have
designed standard connectors for di"erent source
systems e.g. Oracle, SAP, Finacle and
others. Data Warehouse The entire data that is
extracted or given to us by client systems is
stored in a data warehouse. Data Mappers Data
is mapped according to relevancy and forwarded
for further processing. Data Massagers Data is
checked for errors and incorrect data formats
are corrected in this component. Invoicing
Utility In this utility we create invoices,
credit and debit notes for transactions that are
not created by the source systems but are
required to be created as per GST requirements.
DSU Data Sync Utility helps to upload the
massaged data into the ASP solution for further
processing. It picks up files from the In
folder and segregates error files. It also
maintains a log and archive folder for audit
purposes. AIM Accounting and Invoice management
is equipped with capabilities to identify the
invoices that are not accounted for and raise
tickets for passing relevant JVs for these. It
also creates invoices and digitally signs
them. ASP The ASP solution reads all the data
from the DSU and creates records for return
filing on the GSTN portal. It validates,
organizes, reconciles, reports, stores and
connects the data with the GSTN portal. It also
prepares your GST returns to be filed.
www.cygnetgsp.in
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SOLVING THE CHALLENGES WITH CYGNET GSP SOLUTION
Cygnet GSP provided a complete automation
solution for return filling from error
identification and reconciliation to return
filing and reporting. We made use of our Lego
Blocks philosophy where we used the DSU and ASP
components developed in-house by Cygnet were
fitted into an architecture to create a perfect
solution for the banks problem areas.
Banks source systems
DSU
ASP
GSTN

• Logs
• Archives
• In and Out folders

• Invoice data
• Vendor data
• Sales and Purchase data

• Data validation
• Reconciliation
• Reporting
• Connecting with GSTN

Provided the following add-on utilities and
reports to minimize human e"orts º GSTIN search
API for bulk GST number search º Push To GSTN
Errors and status report of successfully pushed
GSTIN º JSON file processing summary showing
file-wise successfully processed and error
records count º Multiple GSTR2A reconciliation
reports like Yearly Consolidated GSTR2A for
reconciliation, Vendor-wise reconciliation
report, Near Escape Report, provision to set the
tolerance value in Near Miss Report º Detailed
User Access Management module for managing the
user and master data maintenance to fulfill the
Maker-Checker functionality
Provided Data Sync Utility (DSU) from where the
JSON files got uploaded for all the 128 GSTINs in
one go without human intervention. Provided the
entire transactional information through our DSU
for success, error and log for all files
processed in the Cygnet ASP solution. Provided
some key data in the DSU output which were
consumed by the banks internal source system
folder like º Data processing errors º GSTN
errors º GSTN status summary
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TANGIBLE BENEFITS
The bank can now access the error files
auto-generated by the Cygnet ASP solution via
the DSU. Hence now error files too are
accessible via a dashboard.
Bank can now reconcile the records count of all
the GSTIN available in source system and GSTN
As a result we saved up to 300-350 man hours of
work for the banks resources leading to greater
business focus. The number of days saved were
approximately 7 man days of work in a month.
The bank can now have access to a vendor-wise
report of errors identified from GSTR 2A. This
saves time to identify errors and enables the
bank to directly correct the identi- fied errors.
Bank can now identify the count of successfully
pushed records and error records.
NUMBER OF DAYS FOR DATA PROCESSING Number of days
for data processing 16 14 12 10 8 6 4 2 0
Post Cygnet GSP Solution Implementation
Manual Data Processing
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About Cygnet GSP
Cygnet GSP is an initiative of Cygnet Infotech, a
multinational IT services and solutions company,
headquartered in India with branches in Mumbai,
Pune and Noida and global o ces in USA, South
Africa and Australia. Cygnet was selected as a
GST Suvidha Provider in 2016 and since then has
developed comprehensive solutions for GST, E-way
Bill and other tax technology solutions.
Founded in 2000, currently with o ces across 6
continents
About Cygnet Infotech Cygnet Infotech is one of
the most trusted names in the IT space delivering
technology solutions to global clients across 35
countries. Born out of a vision to create
software development company where quality,
innovation and personalized services trump low
cost, makeshift solution, Cygnet partners with
its client to help them transform in to high
performance businesses.
900 Employees Delivered 2000 Projects
Cygnet has deep industry and business process
expertise, global resources and a proven track
record in delivering innovative technology
solutions. Cygnet can mobilize the right people,
skills and technologies that improves business
performance. Partnerships Credentials
18 Years of Experience Serving 250 clients in
35 countries
80 Client Retention
Other Tax Technology Solutions
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CYGNET INFOTECH PVT. LTD. 16-Swastik Society, Nr.
AMCO Bank, Stadium Circle, Navrangpura,
Ahmedabad 380009, Gujarat, India
91-79-4901-2525 hello_at_cygnetgsp.in
www.cygnetgsp.in Mumbai, Noida, Pune
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