Godrej Creamline Dairy Products Ltd.

Abstract

A very important part of the 2-year MBA (FT) course at Institute of management, Nirma University, is the 2-months summer internship program. This program gives us an opportunity to get practical experience in the corporate world and gives us immense knowledge and growth as a professional. I got the opportunity to work with Jersey creamline dairy products limited, which is a subsidiary of Godrej Agrovet Ltd.. Godrej- Creamline Dairy Products limited (CDPL) are one of the leading private dairy products company in the Southern part of India with operations spanning across Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra and Karnataka. Their products are sold under the brand name ‘Jersey’. Since its beginning and inception in 1986, the organisation has been growing continuously under the leadership and guidance of their directors, a very effective and efficient operating team and the untiring and unrelentless efforts of their very committed workforce and is backed by the rich legacy of 120 years old Godrej group. In this report, I am going to share my journey and experience while working with Godrej CDPL from 20th May 2020 to 20th July 2020. I was working as a finance intern in this company. I was working on a project with the title- “Optimisation of common input on materials/ services liable to goods and services tax (GST)”. I am responsible to help the finance team of the company with optimising the GST payable by the company. Hence my role is to observe the input products and analyse how to reduce the liability of the goods and services tax of the company. I was responsible to help the finance team with analysing the purchase records of the company, go through the company policy, analyse how various inputs are used in the production and which inputs are used for exempt products and which inputs are used specifically for taxable goods and which inputs are used for common purposes and check whether the treatment adopted by the company is correct. We were also supposed to contact and communicate with all the suppliers of the company, mainly the composite dealers, Unregistered dealers and registered dealers who aren’t required to file GST return every month and make the process of reconciliation of GST and Input tax credit easier. After thorough study and analysis of the purchase records of the company and interaction with the suppliers, factory manager and workers, various purchase department heads, we found out that some inputs would be better to be taken in a different head than what was taken earlier. Moreover, we spoke to the suppliers about the reconciliation issue and discussed this issue further with the Indirect taxation department. The finance team has submitted their analysis and report to the company. The top level management will now analyse the findings and implement it in the policies of the company.