Tax Processes & Export Refunds Processes Re-engineered

A pharma manufacturing company with 40 cr turnover had their management consultants on board but management felt vacuum on following aspects:

• Active participation of consultants with respect to Processes, Internal controls, Risk review.
• Communication gaps between Management & Consultants on reporting
• Lack of trained resources in team
• No adequate emphasis was provided as a full-fledged function of the company.

Management approached us through reference & we got convinced to work as their Management Consultants considering the clear potential for value addition to the company.

Many leakages were plucked amongst others like while conducting tax due diligence of the company's indirect tax system, we came across so many process lapses & revenue leakages in their tax system. Company could simply pluck revenue leakages which add to Rs. 30 Lacs (huge amount for such a size company). Now we have implemented processes in the areas of Export benefits like Duty Drawback/ Refund claims, Service tax, Excise, VAT and Customs & prevented such lapses for future. Preventive actions are very necessary in this case as such leakages were recurring in nature.

My questions for you

Does company have a function working on business processes apart from other regular departments in the company?

Is coverage wider enough? Does it add value and strengthen the overall governance mechanism of the entity, including the entity's strategic risk management and internal control system?

Is it well established with strong communication channels with top management of the company?