C / F Form
As part of the VAT statute, businesses in India need to receive, deliver and maintain certain statutory forms for their businesses in the course of Inter-State trade or commerce.
We have currently undertaken the reconciliation, advice and confirmation of these forms for large beverages MNC with a presence in almost every State of the country. This is a monthly activity which involves routine follow up with the vendors as well multiple units of the client, and reducing the backlog in the collection of these statutory forms. This typically follows the process of collection of data, reconciling between the returns submitted and the data presented in the books of accounts, summarizing the data on the monthly basis for the collection of forms from the Government portal, confirming the actual receipt of forms and incorporating the form numbers against the transactions in the portal.
We were able to make a significant turnaround to the forms backlog position with our routine reconciliations and persistent follow-ups. This resulted in the client bringing down the backlog of forms by more than 50% within a span of 6 months. This effort involved collection of forms with an ageing ranging from 3 to 6 years.
We provide the customer helpdesk for answering the queries and clarifications related to this activity. The help desk team acts as a bridge between the multiple units of the client and helps in the smooth reconciliation of Inter-State transactions culminating in the issue and receipt of forms.