Vendor Payments

How Max ITC is going to help you in recovering payment from your vendors?

Vendor Recovery

You can recover your ITC from your vendors by clicking on Vendor Recovery. You can see the ITC that is stuck with your vendors and also can get to know the risk factor of each vendor. You will see the analytical view and number of vendors in each risk category and amount of ITC to be recovered from each risk bucket.
The risk bucket has been categorized as shown below :
Risk
3B Filing
Operator
G1 Filing/ IFF
High
Delay in >60 days of filing
or
Delay in >60 days of filing
medium
Delay in> 30 days <=60 days of filing
or
Delay in> 30 days <=60 days of filing
low
Delay in<= 30 days of filing
or
Delay in<= 30 days of filing
compliant
filing without delay
and
filing without delay
Basis on the vendor view you can take following payment action on each vendor :
Payment Actions:
i) Make full payment : Invoice is marked as ‘Make Payment’ irrespective if the invoice is matched in 2A/ 2B until user manually change the payment definition of the invoice
ii) Hold GST amount until filed by vendor : Invoice automatically gets marked as ‘Make Payment’ when respective invoice is matched in 2A/ 2B. Until then GST amount of the invoice is marked as hold.

Vendor Communication

You can send communication to your vendors via :
    1.
    Email communication
    2.
    SMS
    3.
    Whatsapp communication
    4.
    Or a combination of the above
Last modified 1mo ago