Since its inception in 2017, the Goods and Services Tax (GST), the most significant tax reform in the country, has seen several changes and updates. Over the years, business organizations have continually used newer technology and software to stay on top of their GST compliance game. However, GST compliance for enterprises is a different ball game. It gets even more difficult in companies where employees regularly travel for business.
A recently published CFO benchmark report states that a staggering 33% of the companies that participated in the survey are still struggling hard to institute GST-compliant systems and have no digital means to perform the calculations for T&E-related GST claims. Amidst all this chaos, Happay, the pioneer in the travel and expense management industry in Asia, is leading the way when it comes to GST compliance. Happay has revolutionized the GST compliance space in the country with its comprehensive GST automation, thus helping hundreds of enterprises to save money and stay GST compliant.
The Happ(a)y magic
Happay helps enterprises to stay GST compliant in all three stages of the business travel cycle. Firstly, during pre-trip, Happay's self-booking tool automatically pushes the company's GST details while employees book flight tickets and hotels. Since this process is automated, entering GSTIN while booking is never missed, and it ensures that airlines and hotels will file their respective GSTR1 for the bookings. This allows companies to claim the input tax credit (ITC) accurately.
Secondly, while filing expenses, the GST details get auto-captured accurately. This includes the auto-capture of vendor GSTIN and amount. Thanks to Happay, there are now zero manual errors while filing expenses, and finance teams do not have to recalculate GST while auditing expenses. What’s more, if the GST number of the merchant is invalid or fake, Happay can automatically flag it.
Finally, post-trip Happay will help you fetch GST details from airlines automatically. You can get all travel invoices on a central email ID, and Happay can auto-read all emails and fetch vendor and GST details accurately. Thus helping companies to capture 100% vendor GSTIN from invoices and never miss out on any invoice.
Get accurate ITC data
When filing GST, God resides in the details, and errors are never forgiven and forgotten. "In GST, simple human errors can prove costly, including heavy penalties and extensive scrutiny. CFOs can avoid such risks by employing a comprehensive expense management software with GST automation. It can ensure 100% accuracy in input tax credit and GST returns fillings," says Himanshu Singh, Senior Vice President of Happay.
This is precisely where Happay can help enterprises. Happay auto-generates consolidated error-free GST reports for all your expenses giving 100% accurate ITC data. Moreover, the Happay system provides consolidated GST invoices (including traveler details) with just a single click, making it easier to reconcile with transaction reports. With Happay, you can now reduce 90% effort on flight expense reconciliation.
What's more, companies using Happay can create a GST master and ensure that correct details are entered in every booking made by the employee. Also, if you are a company with multiple branch offices in different states, Happay lets you auto-add respective GSTIN while employees book flights and hotels.
Achieving 100% GST compliance in T&E is no longer a dream with Happay. With over 7000+ customers, processing $3 billion in payment volumes, and creating 3 million expense reports annually, Happay is hands down the leader in expense management. In 2023, Happay was awarded CIO CHOICE 2023 for Travel & Expense Management. Happay's elite customer list includes marquee names like OYO, Byju's, TATA Group, PwC, and Maruti.