Performance Improvement An Healthcare Company

Practus’ assisted the healthcare company in addressing and clearing the backlog of preparing reconciliation of 2A and 3B for FY 2018-19 with its finance and accounting services.

Client NameROIIndustryOwnershipManagementNo. of EmployeesSizeProject Duration
An Healthcare Company20X+HealthcarePE InvestedProfessional500+$67 million6 months

About The Company

DigiHealth started in 2004, is one of the leaders in the Nutraceutical industry. It offers a range of quality ingredients that are innovative and scientifically validated for dietary supplementation, nutritional fortification, and functional food/beverage applications

Practus’ Role in Performance Improvement

  • Provide inputs and participate in UAT for optimizing the GST process in SAP. 
  •  Clear backlog for reconciliation between 2A and GSTR 3B of FY 2018-19, financial statements and GST return, ITC in 2A and ITC in GSTR1, E-way bill and GSTR-3B.
  • Filing EOU related refund applications from April 2019 to February 2020.
  • Manage and Support GST audit for the FY 2017-18. 
  • Preparation of reconciliations and responding to notices from department related to mismatch of E-way bill with the GST returns, late filings of GST return for earlier periods, queries regarding HSN/SAC codes, place of supply rules, and rate of tax. 

Impact Delivered in Performance Improvement

  • Optimization of SAP to include the GST process resulted in 50% time-saving in the monthly activity of return filing. For each filing of GSTR-1 and GSTR 3B.
  • Addressed and cleared the backlogs of preparing reconciliation of 2A and 3B of FY 2018-19.
  •  Successfully filed and received a refund of Rs. 14.06 crores (related to EOU) for the past 11 months in the bank, easing cashflows during the lockdown.
  • The current delay in filing refund requests is come down to zero. 
  • Due to Practus’ intervention & process improvements the team achieved  zero delay in completing all reconciliations and filing GST returns on the due date.
  •  Timely completion of GST audit for FY 2017-18 in a shorter period of one month.

See how Practus can assist you in improving your organization’s Performance