Customer Story
4 Verticals, 9 States, Zero Compromises: Parekh Group Recovered Up to ₹5 Cr. in ITC Annually with Sovos India
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Overview
Established seven decades ago, Parekh Group has grown into a world-class conglomerate with 22 companies operating across four verticals: shipping, logistics, vessel owning, and hospitality. A family-owned institution, the group serves both national and international clients with end-to-end services, built on values that keep the organization agile and customer-first.
Given the size and diversity of the group, separate PANs exist for each of the four verticals. The shipping, vessel owning, and hospitality verticals each have 6 to 7 GSTINs spanning Maharashtra, Gujarat, Andhra Pradesh, Telangana, Tamil Nadu, Delhi, West Bengal, Odisha, and Kerala, while the logistics vertical operates with 2 GSTINs covering Maharashtra and Gujarat.
GST return filing is managed at the state level by respective state offices, while reconciliation and overall compliance success is monitored at the vertical level and supervised at the group level. The Parekh Group has been meeting its GST compliance obligations since 2017 using the Sovos India Tax Compliance Suite.
The Challenge
Business Hierarchy: Unlike most organizations that operate under a single PAN with multiple GSTINs, Parekh Group functions across multiple PANs. The group required a system where edit access at the GSTIN level could be granted to users responsible for return preparation. Each GSTIN is then overseen at the PAN level by the respective vertical heads, while all PANs are monitored centrally at the group level. Replicating this exact hierarchy and control framework for GST compliance was a critical requirement.
Technology: On the technology front, the group sought simplicity over complexity i.e. a straightforward upload feature for GST compliance. For e-invoicing, the requirement was a solution that integrated seamlessly with their existing ERP, with a smooth, hassle-free implementation process.
GST Implementation: A significant challenge was ensuring the team stayed current with the ever-evolving GST landscape including frequent notifications, circulars, and the introduction of new forms and legislative changes along with timely guidance on their practical implementation.
Easier Reconciliation: The group expected intuitive and efficient reconciliation modules that would help maximize their Input Tax Credit (ITC) claims.
The Solution
GST Compliance: The Parekh Group partnered with Sovos India in 2017. Operating on eBMS as their ERP across multiple verticals, the solution was implemented to mirror the group’s specific business hierarchy, ensuring every stakeholder had the appropriate level of access and visibility.
Sovos India has established partnerships with multiple ERP vendors across industries, and eBMS is one of them. As an existing partner, data exported from eBMS is already in a format that is ready for direct use within the Sovos India Tax Compliance Suite, eliminating the need for any additional data transformation.
Onboarding & Ongoing Support: Over the years, the Sovos India team has consistently supported the Parekh Group with all compliance requirements in a prompt and reliable manner. Beyond managing monthly GST compliance, staying ahead of the latest GST updates, notifications, and regulatory changes has always been a priority in Sovos India’s support framework. Guidance on the practical implementation of these changes has been provided seamlessly, and all evolving GST compliance and filing requirements have been incorporated effortlessly without any modifications to the group’s existing ERP framework, entirely through the Sovos India Tax Compliance Suite.
Reconciliation & ITC Maximization: The overall quality of invoice data across the group has improved considerably over the years, enabling the team to manage liabilities accurately and on time. On the reconciliation front, the Sovos India team goes the extra mile, assisting with GSTR-2A/2B reconciliation against purchase data and actively monitoring vendor compliance. As a result, the Parekh Group has been able to maximize its Input Tax Credit (ITC) claims with a process that has been consistently smooth and reliable.
GSTR-3B Reporting: While the group uploads invoice-level details in GSTR-1, GSTR-3B reporting required consolidated liability figures across multiple heads, specifically:
- B2B and B2C totals reported separately
- Export and SEZ transactions reported separately
- Total of all non-GST transactions
- Nil-rated and exempted transactions reported separately
The underlying calculation logic for these consolidated liabilities is considerably complex, and the data must be uploaded individually for each GSTIN on the GSTN portal.
The Sovos India Tax Compliance Suite delivered an effective solution to this challenge. The support team calculates values not only from GSTR-1 but also from the purchase register uploaded by the Parekh Group team, generating a ready-to-use GSTR-3B for the team to review and act upon. An option to edit auto-computed values has also been provided for added flexibility. The entire calculation is available at both the GSTIN level and the PAN level, and GSTR-3B can be uploaded at the PAN level directly through the platform.
E-Invoicing: Parekh Group leverages the Sovos India E-Invoicing Solution for all their e-invoicing needs. From the very beginning, Sovos India has been steadfast in its e-invoicing support, right from seamless ERP integration to IRN generation, every step has been made frictionless. Despite the group’s high transaction volumes, the Sovos India E-Invoicing Solution has enabled real-time e-invoice generation with consistent reliability and technical excellence.
The Results
Seven years into their partnership with Sovos India, the Parekh Group today operates with a level of GST compliance maturity that is rare for a conglomerate of its complexity.
One Framework, Zero Confusion
With a clear hierarchy established across GSTINs, PANs and verticals, every stakeholder knows exactly what they are responsible for. Compliance is no longer a fragmented activity but a well-governed, group-wide function.
ITC Claims at Their Maximum Potential
Consistent reconciliation and active vendor compliance monitoring have ensured that no eligible Input Tax Credit goes unclaimed. The group has seen a tangible improvement in its ITC realization over the years.
Zero Disruption Despite Regulatory Change
Through every GST amendment, new notification and form introduction since 2017, the Parekh Group has remained compliant without a single instance of the changes impacting their ERP setup or internal workflows.
E-Invoicing at Scale, Without the Complexity
Since going live on 1st January 2021, the group has generated a high volume of e-invoices in real time with no operational disruption, a significant achievement given the scale of their transactions across verticals.
A Partnership Built on Trust
Perhaps the most telling result is the longevity of the relationship. The Parekh Group’s continued reliance on Sovos India across all four verticals over seven years speaks to the consistency, reliability and quality of support they have received.
Why Sovos India?
For a group as complex as Parekh, the choice of a compliance partner was never going to be straightforward. With multiple PANs and GSTINs spread across several states, they needed more than just a software vendor. They needed a partner who could understand the nuances of their business structure and build a compliance framework around it, not the other way around.
Sovos India stood out for its ability to accommodate the group’s unique hierarchy within the platform, giving each stakeholder the right level of access without compromising group-level oversight. The existing partnership with eBMS further strengthened the case, as it meant the ERP integration was already well-tested and the onboarding process would be smooth from day one.
Over years, what has kept the relationship going is not just the technology but the quality of support. In a regulatory environment as dynamic as GST in India, having a partner that proactively communicates changes, guides implementation and ensures continuity without disrupting existing systems has proven to be invaluable for the Parekh Group.
“Choosing a solution that does both GST’s regular monthly Compliance and E-invoicing wasn’t easy for us. We needed a hassle-free and quick solution and glad we selected Sovos India.
It’s been years and the team has been offering prompt support for all our requirements. The ease of operating the software and easily connecting to our ERP solution is the key strength of Sovos India. The changes that are coming for GST compliances and filings can be easily incorporated without changing the framework of our ERP system. The team helped us address the issue on a real time bases. Thus, the quality of our GST filing improved and we managed to meet our GST compliance on time. Apart from this, the team has been diligently helping us with GSTR 2A/2B reconciliation with our purchase data to monitor our vendor compliance. With this, we are able to maximize our ITC and the process has been seamless.”
Parag Parekh
General Manager Accounts & Finance, Parekh Group