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Industry-wide GST Concerns
Government has increased action on fake Input Tax Credit claim cases
Mostly Recyclers or Manufacturers face Department action to reverse the Input Tax Credit
Recycling Industry bears the brunt due to unorganised suppliers
In one end the Recyclers pay the GST component to supplier and are also asked to reverse ITC for incorrect claim
Problem Statement
Challenges of Recycling Industry
Genuinity of Suppliers
Movement of Material from designated location
Can we verify the entire Supply chain?
Tracking GST payment through cash challan
Identification of a compliant and genuine Seller is an issue with the recycling Industry
Tracking of movement of goods along with actual place of dispatch
Review of entire supply chain to evaluate Compliance of GST TDS and RCM
How much GST is paid through cash by the sellers in the supply chain?
The Real Issue!
What is lacking in Recycling Industry
Lack of Periodic verifications to flag vendors who are turning non-compliant
Lack of risk analytics Mechanism No assistance to provide visibility on fulfillment and compliance risk
Lack of real time Traceability of cash paid in the chain by the suppliers
No system for Comprehensive Compliance Rating of vendors during onboarding and on ongoing basis
The 'Kavach'
Build moat around your business
Businesses should build a moat of enhanced compliance and scrutiny around their suppliers and procurement of materials from Unorganized sector. We bring to you “Kavach”, your compliance assistant to handle your Supply Chain GST Compliances
What we bring to the table
We got you covered with our expertise in Recycling Industry
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Testimonials
Get the Kavach Advantage
Connect with us today to get the competitive advantage of “Kavach”, the most robust compliance shield for your business
Gain from our
expertise
Gain from our Industry wide expertise since we have handled complex issues
Adopt Best
Practices
Adopt industry best practices with our experience
Avoid potential risk of Interest and penalties
Gain from our Industry wide expertise since we have handled complex issues
Our methodology and expected outcome
How we propose to implement the change
Review Process
Outcome
Aligned Industry best processes
Reduced risk of non compliance
Avoidance of huge time and costs in litigation (manpower time and cost savings)
Sanitised internal staff to evaluate risk of non compliance
TaxMarvel Expertise
Why we are the best suited?
TaxMarvel is a Tax-Tech Consulting and Advisory firm offering specialized and tailor-made solutions to our clients to solve real industry issues and problems
TaxMarvel is founded by Chartered Accountants, Company Secretaries, Advocates and Management Graduates with extensive industry expertise
The founders have experience in Big4 consulting and various Start up at a managerial level and niche industries