About Hira Ferro Alloys
HFAL has created its identity as a manufacturer of Ferro Alloys, Power, Briquette and Fly Ash Bricks. It is an active contributor in the production of manganese based Ferro alloys in modern steel making and refining.
One Glance Summary of Spectrum ERP Case Study of Hira Ferro Alloys
|GST implementation in multiple units and changes in existing tax books and organizational structure due to roll out of GST||Spectrum ERP With GST Solution with Multiple GST Registration Capabilities and Dynamic Tax Books features||Smooth Transition from previous organization structure to GST compliant structure.|
|Implement GST rules at business transaction levels||Provided all validations, checks and balances for relevant transactions||All relevant transactions were GST Compliant|
|Collecting and providing GST details with large number of vendors and customers||Solutions for sharing and collecting GSTIN numbers||Saved Time Effort in Sharing and collecting GSTIN numbers|
|Incorporate GST impact in MIS reporting||Developed MIS as per GST Compliance requirements||MIS Reporting conforming to GST Requirements.|
|Urgent GST implementation in very limited time||Provided Spectrum GST solution within time to become GST ready||Hira Ferro Alloys was GST Ready within stipulated time|
Challenges faced by Hira Ferro Alloys:
Introduction of GST had a huge impact on Hira Ferro Alloys. It was imperative to implement GST and become GST Ready urgently within limited time.
- Introduction of GST required making changes in tax books and organizational structure.
- Involved implementing GST rules at business transaction level
- Collecting and providing GST details with large number of vendors and customers
- Incorporating GST related changes in MIS reporting
Spectrum ERP with GST Solution implementation:
- We implemented Spectrum ERP with GST solution for them.
- solution facilitated multiple GST Registration and provided Dynamic Tax book features
- We provided all validations, checks required for GST relevant transactions.
- We provided a solution for sharing and collecting GSTIN numbers.
- We developed MIS as per GST requirements and integrated it with ASP for GST return filing.
Impact of Spectrum ERP Implementation:
- Smooth Transition from previous structure to GST Compliant structure
- Significant time & efforts savings in sharing & collecting GSTIN Number
- Hira Ferro Alloys Business was completely GST ready within stipulated time
- They were able to focus on their core business instead of worrying about GST