We are your extended Tax Team!
End to end GST compliances
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Ensure timely periodic and annual compliances, reporting, and reconciliations
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Minimal exposure to penalties due to single source of truth for all tax compliances
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Inhouse team of experienced Chartered Accountants specializing in Indirect taxation
On-demand reconciliations for past period
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Reconciliation of e-invoices / e-way bills with sales / purchase data (generated by vendors)
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Reconciliation for past periods for responding to notices
Advisory, analytics and litigation support
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Responding to tax related queries from internal tax/business teams
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Validating the tax positions, assistance in structuring the transactions
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Monitoring the tax positions and suggesting the ways to optimize ITC utilization, credit liquidation and minimize cash outflows
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Assistance in replying to queries and SCN notices from tax department
Process evaluation and transformation
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Review of existing process and compliances, and suggesting ways for realising tangible benefits and process improvements
Values created by Cygnet Managed Services
Outsourcing decisions are based on savings and the benefits. The calculation of the benefits should also include the impact of constant monitoring and accuracy.
Constant monitoring of GSTR-1 vs GSTR-3B liabilities led to prevention of an inadvertent short payment of taxes, avoiding penal interest
With efforts to address the causes of unreconciled invoices from the core, we reduced on-hold ITC by half, saving ₹2.25 crores in notional cost per 1% increase in ITC reconciled
Synergies between our teams enables you to focus on more value-generating tasks by leaving compliances to us
Minimal exposure to interest and penalties due to single source of truth being used for all tax compliances (e-invoices, e-way bills, reconciliations and GST returns)
