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Key Features

KYS stands for "Know Your Supplier," and this system acts as a centralized hub for managing and monitoring the GST compliance of your vendors. Here's a breakdown of its functions and features:

Compliance Monitoring:

  1. Vendor Filing Status & Pattern: Track the filing status of your vendors' GST returns (GSTR 1, GSTR 3B) and analyze their filing patterns over time. Identify any inconsistencies or potential delays in filing.
  2. Vendor Rating & Compliance Status: KYS assigns a rating based on a vendor's overall compliance behavior. This allows you to quickly assess their risk profile and prioritize potential areas for improvement.
  3. GSTIN Status Verification: KYS verifies the validity and status of your vendors' GST Identification Numbers (GSTINs) on the GST portal, ensuring their legitimacy for conducting business.

Vendor Information Management:

  1. Taxpayer Type & Business Constitution: Identify the type of taxpayer your vendor operates under (e.g., individual, company, partnership) and their business structure (e.g., proprietorship, limited liability company).
  2. Vendor Count by PAN & MSME Status: Gain insights into the number of vendors registered under specific PAN (Permanent Account Number) and their MSME (Micro, Small and Medium Enterprises) status. Leverage this data for targeted communication or compliance initiatives.

E-invoice Management:

  1. E-invoice Applicability based on GSTIN Count: KYS can analyze your vendor base and identify those exceeding the e-invoice threshold based on their GSTINs, helping you determine applicability for e-invoicing regulations.

Reporting & Analytics:

  1. GST Return Reports (GSTR 1 & GSTR 3B): Generate month-wise reports on your vendors' GST return filings (GSTR 1 and GSTR 3B) for in-depth analysis and identification of discrepancies.

Automation & Alerts:

  1. Alerts, Schedulers, & Email Triggers: Set up automated alerts and notifications to stay informed about critical events, such as upcoming filing deadlines, non-compliance issues, or changes in vendor status. KYS can also schedule automated email triggers for reminders or customized communication with vendors.

Multi-Company Management:

  1. Multi-company Access with Single Login: Manage compliance data for multiple companies under your organization with a single login, offering a centralized and efficient way to monitor supplier compliance across your business ecosystem.

Benefits of KYS:

  • Reduced Risk: Proactive identification and management of non-compliant vendors minimizes the risk of penalties or disruptions associated with non-filing or incorrect GST filing.
  • Improved Decision Making: Data-driven insights on vendor compliance inform decisions regarding vendor selection, payment terms, and overall supplier management strategies.
  • Enhanced Efficiency: Automate tasks like alerts and reporting to streamline compliance processes and save time.
  • Simplified Management: Manage supplier compliance for multiple companies under one platform, fostering centralized control and improved visibility.
  • Better Collaboration: KYS facilitates improved communication and collaboration with vendors through targeted and automated notifications.

By leveraging KYS, businesses can achieve a more comprehensive understanding of their supplier network's GST compliance, leading to a more secure and efficient financial ecosystem.

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