“As a result of our association, it’s a pleasure to share our extreme satisfaction, appreciation for WeP Solutions Ltd for supporting us to file GSTR 1 on time. These services included preparation of GSTR 3B & reconciliation data”- Ch. V. Narsimha Rao | Head Taxation.
Metro Cash & Carry India Private Limited (Metro) is one of the major self-service wholesaler in India. It is the largest sales division of the German trade and retail giant Metro AG which operates across Europe, Asia and Northern Africa.
WeP is providing GST return Filing Services to Metro. The service includes error-free data preparation by consolidating data originating from 3 different sources with 1.5 crore line items, seamless data upload and automated reconciliation reports. It’s always ensured that all GST return filings are completed within due dates.
1. How was Metro handling their GST return filing, prior to onboarding WeP?
Metro Cash and Carry was using services of a renowned GSP but was unhappy, as the GSP was not able to scale up with Metro’s large volume of data owing to lack of complete understanding of data. Hence, they were unable to collate and streamline the data coming from 3 different sources.
2. Challenges Faced by Metro during GST filing process?
- Data preparation was consuming Metro team’s productive hours.
- Data consolidation from 3 different sources was a tedious task.
- Data reconciliation was a challenge as vendor data uploads were not happening on time.
- Difficulty in data upload of 1.5 crore line items to the GST portal.
3. What were Metro’s goals to enhance their GSTR filing process?
- Streamline complete GST process
- Automate reconciliation reports to arrive at correct Input Tax Credit
- Error-free GST returns preparation
- On-time GSTR filing for 100% compliance
4. How WeP Digital Helped? (Service- WeP Managed GSTR Filing Services)
- Data preparation, data validation, data upload, GST reconciliation, and on-time GSTR filing were handled by WeP Digital.
- Turnaround time of x+3 days for preparation of GST returns (x= date on which data was shared by Metro).
- A seamless solution for large data processing to handle 1.5 crore line items in GSTR-1 filing.
- A custom connector was built for data transformation and data preparation.
- The mapping concept was developed to take the data and map to WeP GSTR template.
- Consolidated report for matched, mismatched, and missing invoices in GSTR-2 and GSTR-2A reconciliation.
- Supplier compliance matrix for filing status validation.
- Data backup for audit and compliance purposes.
- Zero missed due dates of GSTR filings since WeP Digital started managing GSTR filings of Metro.
- Automated GST reconciliation with outcome in form of detailed and enhanced reconciliation report giving complete insight on matched, mismatched, and missing invoices.
- Facilitated more accurate claim of input tax credit.
- Favorable impact on cashflows due to substantial saving in input tax credit every month.
- No room for human errors, due to process automation.