PROJECT REPORT

ON
ANNUAL GST RETURN BY ITC
(Imperial Tobacco India Ltd.)

IN PARTIAL FULFILLMENT OF THE

REQUIREMENT FOR THE AWARD THE
DEGREE OF MASTERS OF BUSINESS
ADMINISTRATION
(2018-20)

SUBMITTED TO : SUBMITTED BY:

MR. ROSHAN RANA SHOBHIT TRIPATHI
HR MANAGER IMS UNISON UNIVERSITY
DEHRADUN
 DECLARATION

This project report on “a study of ANNUAL GST RETURN in ITC” in ITC

Haridwar is submitted by me for the partial fulfillment of the course of MBA
from IMS UNISON UNIVERSITY..

This is an original work done by me expected the guidance received which

has been properly acknowledgement in the report.

This is not the copy of any other report or any part of it hasn’t been
submitted for the award of any degree or diploma.

Shobhit Tripathi
IMS UNISON UNIVERSITY
 ACKNOWLEDGEMENT

A successful completion of job is based upon the chain of factors combining

together to make an integral outcome. The cooperation of the factors mixed
with sincere effort can lead to best performance. My project is also no
exception to this. Therefore I take this opportunity to express deep sense of
gratitude to all those who have contributed significantly by sharing their
knowledge and experience in the completion of this project work.

I would like to thanks Mrs. CHHAVI SAXENA (Finance Superintendent)

who gave me an opportunity to work in this large organization and she gve
me proper guidance about the work which I did in my Summer Internship
which helped me in completing my project. I also express my sincere thank
to my internal guide Dr. RAJEEV PRASHER for his constant support and
guidance throughout the project.

I have made an honest and dedicated attempt to make the research material
as authentic as it could. And I earnestly hope that it provides useful and
workable information and knowledge to any person reading it.

Submitted by
Shobhit Tripathi
 CERTIFICATE

This is to certify that the dissertation title “ANNUAL GST RETURN AT

ITC” submitted by SHOBHIT TRIPATHI during MBA program (Batch
2018-20) embodies original work done by him.

Signature of faculty guide:

Name:
Destination:
Center:
 PREFACE

I have made this report as an essential part of III Trimester course

curriculum of MBA. The title of project is “A study of Annual GST
RETURN in ITC” at ITC Haridwar.
In the course of my training I have had the golden opportunity of seeing
the practical application of what ever theoretical knowledge was
imparted to me in a class room studies. I have had the good fortune in
interacting with the executive and employee of ITC Haridwar who were
very warm and cordial in their conduct towards me.
My report mainly focuses on “study of Annual GST Return in ITC”.
I hope that the finding of the project work must conform with the
companiy’s expectation & suggestion made on that basis must be useful for
the total performance of the employees of “ITC HARIDWAR.”
 Table Of Contents

 Company Profile

 History of ITC

 Certification of ITC

 ITC business portfolio

 Research Methodology

 Data Analysis and Interpretation

 Findings

 Conclusions
Company profile

ITC Limited is an Indian conglomerate founded on 24 August 1910. The

company (formerly known as Imperial Tobacco Company of India Limited)
is currently headed by Yogesh Chander Deveshwar. The company has its
registered office in Kolkata. It employs over 20,000 people at more than 60
locations across India.

ITC has a diversified presence in Cigarettes, Hotels, Paperboards &

Specialty Papers, Packaging, Agri-Business, Packaged Foods &
Confectionery, Information Technology, Branded Apparel, Personal Care,
Stationery, Safety Matches and other FMCG products. While ITC is an
outstanding market leader in its traditional businesses of Cigarettes, Hotels,
Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share
even in its nascent businesses of Packaged Foods & Confectionery, Branded
Apparel, Personal Care and Stationery.

It ranks third in pre-tax profit among India's private sector corporations. ITC
is one of India's foremost private sector companies with a market
capitalization of over US $ 22 billion and a turnover of US $ 6 billion.

ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the
World's Most Reputable Companies by Forbes magazine, among India's
Most Respected Companies by Business World and among India's Most
Valuable Companies by Business Today. ITC ranks among India's `10 Most
Valuable

(Company) Brands', in a study conducted by Brand Finance and published

by the Economic Times. ITC also ranks among Asia's 50 best performing
companies compiled by Business Week.

ITC is one of India's most valuable and respected corporations.

Vision statement

Sustain ITC's position as one of India's most valuable corporations through

world class performance, creating growing value for the Indian economy and
the Company’s stakeholders

The mission statement

To enhance the wealth generating capability of the enterprise in a globalizing

environment, delivering superior and sustainable stakeholder value

Positioning statement
"Enduring Value. For the nation. For the Shareholder."

ITC’s corporate strategies are:

 Create multiple drivers of growth by developing a portfolio of world

class businesses that best matches organizational capability with
opportunities in domestic and export markets.
 Continue to focus on the chosen portfolio of FMCG, Hotels, Paper,
Paperboards & Packaging, Agri Business and Information
Technology.
 Benchmark the health of each business comprehensively across the
criteria of Market Standing, Profitability and Internal Vitality.
 Ensure that each of its businesses is world class and internationally
competitive.
 Enhance the competitive power of the portfolio through synergies
derived by blending the diverse skills and capabilities’ residing in
ITC’s various businesses.
 Create distributed leadership within the organization by nurturing
talented and focused top management teams for each of the
businesses.
 Continuously strengthen and refine Corporate Governance processes
and systems to catalyze the entrepreneurial energies of management
 by striking the golden balance between executive freedom and the
need for effective control and accountability.

HISTORY OF ITC

ITC was incorporated on August 24, 1910 under the name of 'Imperial
Tobacco Company of India Limited'. A leased office on Radha Bazar Lane,
Kolkata, was the centre of the Company's existence. The Company
celebrated its 16th birthday on August 24, 1926, by purchasing the plot of
land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata,
for the sum of Rs 310,000. The Company's ownership progressively
Indianised, and the name of the Company was changed to I.T.C. Limited in
1974. In recognition of the Company's multi-business portfolio
encompassing a wide range of businesses - Cigarettes & Tobacco, Hotels,
Information Technology, Packaging, Paperboards & Specialty Papers, Agri-
Exports, Foods, Lifestyle Retailing and Greeting Gifting & Stationery - the
full stops in the Company's name were removed effective September 18,
2001.

ITC's Packaging & Printing Business was set up in 1925 as a strategic

backward integration for ITC's Cigarettes business. It is today India's most
sophisticated packaging house.
In 1975 the Company launched its Hotels business with the acquisition of a
hotel in Chennai which was rechristened 'ITC-Welcomgroup Hotel Chola'.
Since then ITC's Hotels business has grown to occupy a position of
leadership, with over 70 owned and managed properties spread across India.

In 1979, ITC entered the Paperboards business by promoting ITC

Bhadrachalam Paperboards Limited, which today has become the market
leader in India.

In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepal and

British joint venture. In August 2002, Surya Tobacco
became a subsidiary of ITC Limited and its name was changed to Surya
Nepal Private Limited (Surya Nepal).
In 1990, ITC acquired Tribeni Tissues Limited, a Specialty paper
manufacturing company and a major supplier of tissue paper to the cigarette
industry. Tribeni Tissues Division was merged with the Bhadrachalam
Paperboards Division to form the Paperboards & Specialty Papers Division
in November 2002.

In 1990, leveraging its agri-sourcing competency ITC set up the Agri

Business Division for export of agri-commodities. ITC's unique and now
widely acknowledged e-Choupal initiative began in 2000 with Soya farmers
in Madhya Pradesh. Now it extends to 9 states covering over 4 million
farmers. ITC's first rural mall, christened 'Choupal Sagaar' was inaugurated
in August 2004 at Sehore. On the rural retail front, 24 'Choupal Saagars' are
now operatonal in the 3 states of Madhya Pradesh, Maharashtra and Uttar
Pradesh.
In 2000, ITC launched a line of high quality greeting cards under the brand
name 'Expressions'. In 2002, the product range was enlarged with the
introduction of Gift wrappers, Autograph books and Slam books. In the same
year, ITC also launched 'Expressions Matrubhasha', a vernacular range of
greeting cards in eight languages and 'Expressions Paperkraft', a range of
premium stationery products. In 2003, the company rolled out 'Classmate', a
range of notebooks in the school stationery segment.

ITC also entered the Lifestyle Retailing business with the Wills Sport range
of international quality relaxed wear for men and women in 2000. The Wills
Lifestyle chain of exclusive stores later expanded its range to include Wills
Classic formal wear
(2002) and Wills Clublife evening wear (2003). ITC also initiated a foray
into the popular segment with its men's wear brand, John Players, in 2002. In
2006, Wills Lifestyle became title partner of the country's most premier
fashion event - Wills Lifestyle India Fashion Week - that has gained
recognition from buyers and retailers as the single largest B-2-B platform for
the Fashion Design industry. In 2007, the Company introduced 'Miss
Players'- a fashion brand in the popular segment for the young woman.

In 2000, ITC spun off its information technology business into a wholly
owned subsidiary, ITC Infotech India Limited, to more aggressively pursue
emerging opportunities in this area.
ITC's foray into the Foods business is an outstanding example of
successfully blending multiple internal competencies to create a new driver
of business growth. It began in August 2001 with the introduction of
'Kitchens of India' ready-to-eat Indian gourmet dishes.
In 2002, ITC entered the confectionery and staples segments with the launch
of the brands mint-o and Candyman confectionery and Aashirvaad atta
(wheat flour). 2003 witnessed the introduction of Sunfeast as the Company
entered the biscuits segment. ITC's entered the fast growing branded snacks
category with Bingo! in 2007.
In 2002, ITC's philosophy of contributing to enhancing the competitiveness
of the entire value chain found yet another expression in the Safety Matches
initiative. ITC now markets popular safety matches brands like iKno,
Mangaldeep, Aim, Aim Mega and Aim Metro.
ITC forayed into the marketing of agarbattis (incense sticks) in 2003
marked the manifestation of its partnership with the cottage sector. ITC's
popular agarbattis brands include Spriha and Mangaldeep across a range of
fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Sambrani
and Nagchampa.

ITC introduced Essenza Di Wills, an exclusive range of fine fragrances and

bath & body care products for men and women in July 2005. Inizio, the
signature range under Essenza Di Wills provides a comprehensive grooming
regimen with distinct lines for men (Inizio Homme) and women (Inizio
Femme). Continuing with its tradition of bringing world class products to
Indian consumers the Company launched 'Fiama Di Wills', a premium range
of Shampoos, Shower Gels and Soaps in September, October and December
2007 respectively. The Company also launched the 'Superia' range of Soaps
and Shampoos in the mass-market segment at select markets in October
2007 and Vivel De Wills & Vivel range of soaps in February and Vivel range
of shampoos in June 2008.
Certification of ITC

ITC constantly endeavors to benchmark its products, services and processes

to global standards. The Company's pursuit of excellence has earned it
national and international honors. ITC is one of the eight Indian companies
to figure in Forbes A-List for 2004, featuring 400 of "the world's best big
companies". Forbes has also named ITC among Asia's'Fab 50' and the
World's Most Reputable Companies
ITC is the first Indian company and the second in the world to win the
prestigious Development Gateway Award. It won the $100,000 Award for
the year 2005 for its trailblazing ITC e-Choupal initiative which has
achieved the scale of a movement in rural India. The Development Gateway
Award recognizes ITC's e-Choupal as the most exemplary contribution in
the field of Information and Communication Technologies (ICT) for
development during the last 10 years. ITC e-Choupal won the Award for the
importance of

its contribution to development priorities like poverty reduction, its scale

and replicability, sustainability and transparency.

ITC has won the inaugural 'World Business Award', the worldwide
business award recognizing companies who have made significant efforts to
create sustainable livelihood opportunities and enduring wealth in
developing countries. The award has been instituted jointly by the United
Nations Development Programme (UNDP), International Chamber of
Commerce (ICC) and the HRH Prince of Wales International Business
Leaders Forum (IBLF).

ITC is the first Corporate to receive the Annual FICCI Outstanding Vision
Corporate Triple Impact Award in 2007 for its invaluable contribution to the
triple bottom line benchmarks of building economic, social and natural
capital for the nation.

ITC has won the Golden Peacock Awards for 'Corporate Social
Responsibility (Asia)' in 2007, the Award for ‘CSR in Emerging Economies
2005’ and ‘Excellence in Corporate Governance' in the same year. These
Awards have been instituted by the Institute of Directors, New Delhi, in
association with the World Council for Corporate Governance and Centre for
Corporate Governance

ITC's cigarette factory in Kolkata is the first such unit in India to get ISO
9000 quality certification and the first among cigarette factories in the world
to be awarded the ISO 14001 certification

ITC Maurya in New Delhi is the first hotel in India to get the coveted ISO
14001 Environment Management Systems certification.

ITC Filtrona is the first cigarette filter company in the world to obtain ISO
14001

ITC Infotech finds pride of place among a select group of SEI CMM
Level 5 companies in the world.

ITC's Green Leaf Threshing plant in Chirala is the first in India and among
the first 10 units in the world to bag the Social Accountability (SA 8000)
certification

ITC Chairman Y C Deveshwar has received several honors over the years.
Notable among them are:

Year Award

2007 SAM/SPG Sustainability Leadership Award conferred at

the International Sustainability Leadership Symposium,
Zurich.
2006 Business Person of the Year from UK Trade &
Investment, the UK Government organisation that
 supports overseas businesses in that country.
2006 Inducted into the `Hall of Pride' by the 93rd Indian
Science Congress
Honoured with the Teacher's Lifetime Achievement
2005
Award
Manager Entrepreneur of the Year from Ernst & Young
2001
Retail Visionary of the Year from Images, India's only
fashion and retail trade magazine
Honorary Fellowship from the All India Management
1998
Association
Distinguished Alumni Award from IIT, Delhi
1996
Marketing Man of the Year from A&M, the leading
1994
marketing magazine
1986 Meridien Hotelier of the Year

ITC has won the 'Enterprise Business Transformation Award' for Asia
Pacific (Apac), instituted by Infosys Technologies and Wharton School of
the University of Pennsylvania for its celebrated e-Choupal initiative.

ITC is the only Indian FMCG Company to have featured in the Forbes
2000 list. The Forbes 2000 is a comprehensive ranking of the world's biggest
companies, measured by a composite of sales, profits, assets and market
value. The list spans 51 countries and 27 industries.

ITC continues its dominance of The Economic Times' Brand Equity listing
of India's 100 Biggest FMCG Brands, with three brands from its stable
making it to the top five. Gold Flake remains India's biggest FMCG brand in
terms of sales. Navy Cut ranks at No. 4. ITC's Scissors brand ranks at No 5
and is the only new entrant into the top 10.
 Restaurant magazine has chosen Bukhara at the ITC Maurya, New Delhi
as the best Indian restaurant in the world and the best restaurant in Asia.
Bukhara has also been adjudged one of the top 50 restaurants in the world by
the London based magazine 'The Good Food Guide'. Bukhara is the only
South Asian restaurant to figure in the list.

ITC's Lifestyle Retailing Business Division (LRBD) has won the "Best
Supply Chain Practices Award" for time-effective and cost-efficient
Logistics Management in Organized Retail. The awards were organized by
Retailers Association of India (rai) in association with ITW Signode - the
International leaders in packaging solutions.
ITC -FMCG
ITC -FMCG

Cigarettes
ITC is the market leader in cigarettes in India. It’s highly popular portfolio
of brands includes Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy
Cut, Scissors, Capstan, Berkeley, Bristol and Flake.

ITC's cigarettes are produced in its state-of-the-art factories at Bangalore,

Munger, Saharanpur and Kolkata. These factories are known for their high
levels of quality, contemporary technology and work environment.

ITC's has presence in overseas markets as well. In the extremely competitive

US market, ITC offers high-quality, value-priced cigarettes and Roll-your-
own solutions. In West Asia, ITC has become a key player in the GCC
markets through growing volumes of its brands.

Foods

ITC made its entry into the branded & packaged Foods business in August
2001 with the launch of the Kitchens of India brand. A more broad-based
entry has been made since June 2002 with brand launches in the
Confectionery, Staples and Snack Foods segments.
The Foods business strives to deliver quality food products to the consumer.
All products of ITC's Foods business available in the market today have
been crafted based on consumer insights developed through extensive
market research. ITC's

state-of-the-art Product Development facility is located at Bangalore.

The Foods business is represented in 4 categories in the market. These are:

 Ready To Eat Foods

 Staples
 Confectionery
 Snack Foods

ITC’s six brand of food include:

 Kitchens of India
 Aashirvaad
 Sun feast
 mint-o
 Candyman
 Bingo!

Lifestyle retailing

ITC’s ventured into Lifestyle Retailing Business Division through its Wills
Lifestyle chain of exclusive specialty stores.
Wills Lifestyle, the fashion destination, offers a tempting choice of Wills
Classic work wear, Wills Sport relaxed wear, Wills Club life evening wear,
fashion accessories and Essenza Di Wills – an exclusive range of fine
fragrances and bath & body care products and Fiama Di Wills - a range of
premium shampoos and shower gels. Wills Lifestyle has also introduced
Wills Signature designer wear, designed by the leading designers of the
country.

With a distinctive presence across segments at the premium end, ITC has
also established John Players as a brand that offers a complete fashion
wardrobe to the male youth of today.

Education & Stationary

ITC made its entry into the stationery business in the year 2002 with its
premium range of notebooks. ITC's Education and Stationery Products are
marketed under the brands "Classmate" and "Paperkraft".

The Classmate range of products is targeted at satisfying education &

stationery needs of students & young adults. The product range includes
Notebooks, Math Instruments, Scholastic Products as well as Writing
Instruments.

The Paperkraft range of products aims at satisfying the stationery needs &
office consumables need of office executives & working professional. The
continuously expanding product range under Paperkraft includes Premium
Business Paper, Paper Stationery, Markers & Highlighters.
Safety Matches

ITC’s range of Safety matches include popular brands like i Kno,

Mangaldeep, Aim, Aim Mega and Aim Metro. With differentiated product
features and innovative value additions, these brands effectively address the
needs of different consumer segments. The Aim brand is the largest selling
brand of Safety Matches in India.

ITC also exports regular and premium safety matches brands to markets
such as Middle East, Africa and the USA. ITC aims to enhance the
competitiveness of the small and medium scale sectors through its
complementary R&D based product development and marketing strengths,
especially the breadth and depth of the Company's trade marketing and
distribution.

Aggarbattis

ITC commenced marketing Agarbattis (Incense Sticks) sourced from small-

scale and cottage units in 2003. Mangaldeep Agarbattis are available in a
wide range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur,
Durbar, Tarangini, Anushri, Ananth and Mogra.Durbar Gold is a new
offering from Mangaldeep launched in Andhra Pradesh and has received
wide consumer acceptance. The premium range from ITC, Mangaldeep has
two offerings, Pratiti and Sarvatra and is specially hand rolled by Cottage
Industries, Sri Aurobindo Ashram, Pondicherry.

Personal care
ITC forayed into the Personal Care business in July 2005. In the short period
since its entry, ITC has already launched an array of brands, each of which
offers a unique and superior value proposition to discerning consumers.
Anchored on extensive consumer research and product development, ITC's
personal care portfolio brings world-class products with clearly
differentiated benefits to quality-seeking consumers.

ITC's Personal Care portfolio under the 'Essenza Di Wills', 'Fiama Di Wills',
'Vivel Di Wills' 'Vivel UltraPro', 'Vivel' and 'Superia' brands has received
encouraging consumer response and is being progressively extended
nationally.

ITC's state-of-the-art manufacturing facility meets stringent requirements of

hygiene and benchmarked manufacturing practices. Contemporary
technology and the latest manufacturing processes have combined to
produce distinctly superior products which rank high on quality and
consumer appeal.

C. Packaging: -

ITC also producing packaging items like-

I.Flip top boxes.
II. Car board outers.
III. Shells and slides.
IV. Soft cup and strap labels
V. Bundle wraps
VI. Flap boxes
 VII. Inner frames
VIII. Coupon inserts & Variety
IX. Folding crotons
D. Paper Board & Specialty paper: -

ITC has now integrates sits paperboard & specialty paper business into its
newly created (PSPD), to how new strategic & operational synergies.
The division also produced quality-

(a). Printing & Writing papers

(b). Eco- friendly papers
(c). Photo copier papers.
E. Information Technology (IT): - ITC has recently spun off its 20
year old information system division into a wholly owned subsidiary to
aggressively pursue growth opportunities in this sector
F. Life style retelling: - ITC also manufacturing ready made garments
range of international quality of relaxed wear under the brand name
“wills sport”. It have 48 retail out across 38 cites in the country. Recently
he also lunched another brand name “john players” offers complete
range of contemn porary men’s wear- like shirts, Trousers, t-shirts &
denims. It also lunches in Nov.
RESEARCH METHODOLOGY
RESEARCH FORMULATION

The research to be conducted can be formulated as:-

“A detail study on the ‘ANNUAL GST RETURN’ .

RESEARCH OBJECTIVES

1. To study the GST RETURN in ITC.

2. To know that how to check INVOICES with EXCEL typed

file.

3. To Identify the HSN Code No.

4. The HSN Code is the Product No. Through which we Identify

the different Product.

5. Through the fourth alphabet of PAN No. we charge TDS.

GOVT. CHARGE 1% TDS ON INDIVIDUAL PERSON.

RESEARCH DESIGN

Descriptive Research has been used in order to conduct the study.

DATA COLLECTION METHOD

I took the help of primary and secondary data to achieve the objective of my
project, which include:-

Primary Data

 Observation
 Invoices
Secondary Data

 Websites
 Handouts

LIMITAION OF THE STUDY

1. The problem discussed was more is technical terms, thus was difficult
to comprehend.

2. Views of only few members could be included because of time

limitation.
 Analysis And Data Interpretation

FINDINGS

SWOT OF ITC

Strengths

ITC leveraged it traditional businesses to develop new brands for new

segments. ITC is a diversified company trading in a number of business
sectors including cigarettes, hotels, paper, agriculture, packaged foods and
confectionary, branded apparel, personal care, greetings cards, Information
Technology, safety matches, incense sticks and stationery.

Weaknesses

To fund its cash guzzling FMCG start-up, the company is still dependant
upon its tobacco revenues. Cigarettes account for 47 per cent of the
company's turnover, and that in itself is responsible for 80% of its profits. So
there is an argument that ITC's move into FMCG (Fast Moving Consumer
Goods) is being subsidised by its tobacco operations. Its Gold Flake tobacco
brand is the largest FMCG brand in India - and this single brand alone holds
70% of the tobacco market. Unrelated diversification is also a major
weakness of ITC.

Opportunities

Core brands such as Aashirwad, Mint-o, Bingo! And Sun Feast (and others)
can be developed using strategies of market development, product
development and marketing penetration.ITC is moving into new and
emerging sectors including Information Technology, supporting business
solutions.

e-Choupal is a well thought of initiative that could be used in other sectors in

many other parts of the world. It is also an ambitious project that has a goal
of reaching 10 million farmers in 100,000 villages

Per capita consumption of personal care products in India is the lowest in the
world offering an opportunity for ITC's soaps, shampoos and fragrances
under their Wills brand.

Threats

The obvious threat is from competition, both domestic and international.

ITC's opportunities are likely to be opportunities for other companies as
well. Therefore the dynamic of competition will alter in the medium-term.
Then ITC will need to decide whether being a diversified conglomerate is
the most competitive strategic formation for a secure future.
CONCLUSION
CONCLUSION:

 Major sectors of ITC are strong -- FMCG major source of revenue.

Strong cash generation and management – High ROE
 Diversification and market share – Different product ranges, good
market share in operating areas Able management – strategies proved
to be good
 Low risk stock – being a high capital company operating with high
market share in stable markets
 ITC is expected to continue in its path of growth and diversification
 ITC promoting their brands through advertisement campaign as well
as door to door promotion.
 ITC is also focusing on Retailers and Wholesalers to promote their
brand. The demand of their product in very low, because people don't
know about their brands very well.
 ITC knows their strength and weakness in the personal care market, so
they are applying new concept to overcome their weaknesses.
 ITC now offering more margins, exiting offers and long credit period
to retailers and wholesalers.