TaxGenie Introduction

GST Compliance Services for Banks

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 ABOUT TAXGENIE
TaxGenie is a GST Application Service Provider (ASP) floated by a team of Fintech
experts from India, US, Germany, and UK. Using Artificial Intelligence (AI), Machine
Learning (ML), Process Automation, knowledge of taxation and ERPs they are
making processes related to GST compliance accurate, fast, and easy to use. At
present they are marketing three services aggressively - GST E-Filing, GST
reconciliation and GST services for banks. They have packed immense amount of
analytics in each of their services. Tax experts and businesses, in general, can save
valuable executive time by using such services.

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STORY OF OUR LOGO

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GST SERVICES NOT JUST SOFTWARE

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KEY GST SERVICES FOR BANKS

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Tax Genie Functions & Approach

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PAIN POINT OF BANKS
Consolidation of
raw data from Identification of
peripheral systems GST liability and
such as ATM, recognition of ITC
Internet banking,
NPCI gateway

GST reports are No tax invoice

not generated generation

Compliance
Invalid fields are not
made mandatory
GSTIN - such as invoice
no

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 GAPS & EXCEPTIONS

Gap Analysis Error Identification

Core banking & Data anomalies in

Peripheral systems income and expenditure
vs. registers w.r.t.
GST rules for banking GST compliance

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SERVICES & FEATURES

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PROCESS FLOW

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BENEFITS

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 BANKS CASE STUDY
Problem statement
• A leading bank in Maharashtra, with operations in Karnataka as well and over 40 branches
• Their Core Banking System does not offer a fully GST compliant system
• The major lacunae – the CBS & peripheral systems are not able to identify GST liability, recognise ITC or generate tax
invoices after bank charges for the services rendered and purchases made

Solution offered
• TaxGenie offers a customized engine for identification of GST liability, recognition of ITC and invoice management
• We consolidate raw inputs from CBS and other peripheral systems of income and expenditure, process the data and
generate invoice number as per defined logic. Revised consolidated raw inputs, with invoice nos., are uploaded to our
GST compliance platform for GSTR1 and GSTR 3B return filing
• Over 25000 GSTR1 data are processed in under 15 minutes, after upload to GSTN
• Tax Invoices created outside the CBS are now sent to customers by email
• This has been a great relief to the bank

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Invoice Processing

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Invoice Processing

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Invoice View / Print

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Invoice View / Print

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Single Window Operation

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GST Return e-Filing

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GST Return e-Filing

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Purchase Register GSTR – 2A

GSTR – 3B

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 Matched Records

Mismatched Records

Purchase not accounted and

filed by Vendor (GSTR 2A)

Purchase accounted, but not

filed by Vendor

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ITC Under Claimed ITC Excess Claimed

Exact GST Liability

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Recon++ Dashboard (Current Period)

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Recon++ Detailed (Current Period)

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Window for Possible - Manual Match

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ITC Availment Feature to Auto Compute GSTR 3B

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 Email
sales@taxgenie.in

Cell Phone
+91 81047 79552
Office Phone
+91 (22) 60605678

Accurate GST, More Banking, Strong Economy.

Thank you.

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