Business Challenge

Globally, passing GST I VAT audits for finance teams poses significant challenges due to the complexity of data requirements.

Catapult VAT Compliance framework ensure compliance and minimize the risk of adjustments and penalties.

• Based on the business model of client – GST I VAT framework is drawn and implemented.
• Checklist for data entry for the maker and checker roles tailored for each clients business model.
• Top down QC for VAT I GST Audit readiness: Pivoting of each transactions by transaction type, country of supplier / client, GL code so that unusuals transactions are flagged.
• Reconciliation Template: Reconciliation of VAT returns with the financial statements before filing.
• Rollforward Template: Rationalise the movement in VAT GL balances are arising only from previously filed returned to current period return.

Our Impact

• 40+ VAT I GST audits carried out without any adjustments.