Domain: Banking and Finance
The client is a World Class Indian Private Bank offering 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 acrossIndia. The bank is known to maintain the highest level of ethical standards, professional integrity,corporate governance and regulatory compliance.
The onset of GST required all the organisations with multiple branches and offices 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.
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.