TRACK­ING GST REGIME: IN­DIA WANTS TO KNOW

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Free­dom.Desi for­ays into re­turn fil­ing in GST regime

Free­dom.Desi is geared to make its foray into re­turn fil­ing in the im­ped­ing GST regime. Touted as the big­gest re­form in In­dian’s tax struc­ture, GST aims to elim­i­nate tax bar­rier be­tween states and cre­ate a sin­gle mar­ket­place. Through its mo­bile ap­pli­ca­tion, Free­dom.Desi will of­fer ro­bust GST so­lu­tions to bring forth im­proved pro­duc­tiv­ity, and stream­line tax pro­cesses, en­abling re­tail­ers to run their busi­ness smoothly.

Once im­ple­mented, GST will be one of the big­gest tax­a­tion re­forms to take place in In­dia. GST en­tails a ma­jor shift from ori­gin-based tax­a­tion to a des­ti­na­tion-based tax struc­ture, af­fect­ing the var­i­ous facets of busi­ness such as pric­ing, prof­itabil­ity, cash flow, sourc­ing, and sup­ply chain. The sole in­ten­tion of this re­form is to fa­cil­i­tate a sin­gle, co­op­er­a­tive mar­ket, which will even­tu­ally help cre­ate a pro­gres­sive busi­ness in­fra­struc­ture and econ­omy.

Free­dom.Desi helps off­line re­tail­ers to lever­age the ben­e­fits of lo­ca­tion­based tech­nol­ogy to in­crease foot­fall and drive sales. The mo­bile based ap­pli­ca­tion uses Wi-Fi sen­sors to track users in vicin­ity on a com­mer­cial space, log foot­falls and also out pro­mo­tional of­fers to their app-users in the vicin­ity.

“BIZGURU” Comes to Cater Ac­count­ing and GST Needs of Small Busi­nesses and Traders

Con­fed­er­a­tion of All In­dia Traders (CAIT), Acer and Tally So­lu­tions launched “BIZGURU”. The so­lu­tion is a one-stop plug and play busi­ness so­lu­tion for all ac­count­ing and GST com­pli­ance needs. BizGuru comes with Acer’s PC prod­ucts and pre-in­stalled Tally.ERP 9 to make it easy even for small busi­nesses. The ini­tia­tive is sup­ported by CAIT, who have been help­ing In­dian traders em­brace new tech­nol­ogy for the last decade.

The in­tro­duc­tion of Goods and Ser­vices Tax (GST) is a re­mark­able step in the re­form of in­di­rect tax­a­tion. It of­fers a great op­por­tu­nity to or­ga­ni­za­tions of all sizes and sec­tors to trans­form and en­hance their shift into the dig­i­tal econ­omy. One of the big­gest chal­lenges for the small busi­nesses and traders is to un­der­stand the enor­mity of GST and adopt real time im­ple­men­ta­tion of it. There­fore, there comes the need of a com­pre­hen­sive IT so­lu­tion that would en­able smooth im­ple­men­ta­tion of GST and will help busi­nesses in dig­i­tal trans­for­ma­tion. Acer and Tally have been pioneers in in­tro­duc­ing in­no­va­tive prod­ucts and so­lu­tions while CAIT brings with it the coun­try’s largest net­work of traders. With GST com­ing in, con­sid­er­ing a dire need to up­load dig­i­tized trans­ac­tions for in­voice match­ing; they have joined hands to in­tro­duce – BizGuru. This so­lu­tion will cater to all small busi­nesses and traders across In­dia who are cur­rently us­ing man­ual meth­ods of ac­count­ing.

Acer’s GST cus­tom­ized range of com­put­ers per­fectly com­ple­ments Tally’s soft­ware, Tally.ERP 9 which will be pre-in­stalled and give busi­nesses peace of mind that by merely switch­ing on the so­lu­tion, they can get up and run­ning with ac­count­ing and GST com­pli­ance. This will make BizGuru a com­pelling GST so­lu­tion in the mar­ket. Fur­ther­more, CAIT will lead the way in reach­ing out to the traders and small busi­nesses with the so­lu­tion and help­ing the com­mu­nity get GST ready. Tally’s ed­u­ca­tion arm will also pro­vide a cer­ti­fi­ca­tion pro­gramme to train the traders on the so­lu­tion.

EY launches DigiGST; a SaaS-based tax au­to­ma­tion tool for GST

EY has launched DigiGST, its in­te­grated GSP-ASP so­lu­tion that pro­vides or­gan­i­sa­tions with end-to-end GST com­pli­ance sup­port. DigiGST is hosted on the Mi­crosoft Azure plat­form and com­bines EY’s tax do­main ex­per­tise, tech­nol­ogy ca­pa­bil­i­ties and deep Sec­tor knowl­edge.

The GST Net­work (GSTN) will be the tech­nol­ogy back­bone of the new GST regime and it is es­ti­mated that over 8 mil­lion tax­pay­ers will u pload in ex­cess of 3 bil­lion in­voices in a month on the GSTN.

The DigiGST uses ro­bust in-mem­ory mul­ti­level rec­on­cil­i­a­tion for timely er­ror de­tec­tion and ap­pro­pri­ate credit avail­ment to tax­pay­ers thus re­duc­ing their work­ing cap­i­tal block­age.

EY’s GST Suvidha Provider (GSP) will con­nect with the GSTN sys­tem seam­lessly over a se­cured leased-line and up­load tax­payer data in JavaScript Ob­ject No­ta­tion (JSON) for­mat us­ing Ap­pli­ca­tion Pro­gram­ming In­ter­face (APIs) and the li­cense key ac­corded by the GSTN. EY Ap­pli­ca­tion Ser­vice Provider (ASP) will pro­vide all the value-added ser­vices to make GST com­pli­ance eas­ier.

Len­ovo launches GST ad­van­tage so­lu­tion

Len­ovo an­nounced the roll out of a com­pre­hen­sive range of GST-ready so­lu­tions across its note­book, desk­top, and all-in-one PC pow­ered by Intel Core pro­ces­sors, and the tablet port­fo­lio. Len­ovo GST ad­van­tage PCs start at an ac­ces­si­ble price of INR 19,999/- (plus tax).

With GST, it has be­come im­per­a­tive for small busi­nesses to dig­i­tize their trans­ac­tions and the need of the hour is to pro­vide ad­e­quate sup­port to make a seam­less tran­si­tion. With this launch, Len­ovo aims to en­able small busi­nesses and en­trepreneurs with a choice of at­trac­tive of­fers from GST-com­pli­ant ac­count­ing, ERP and POS so­lu­tions along with the pur­chase of se­lect Len­ovo PCs.

To start with, Len­ovo has col­lab­o­rated with Intel and three so­lu­tion providers: IDOS, Marg and WeP Dig­i­tal. Busi­nesses that are cur­rently eval­u­at­ing the need to pur­chase com­put­ing de­vices can re­view all of­fer­ings avail­able and se­lect what is best suited to their needs. The Len­ovo GST ad­van­tage of­fers also in­clude online train­ing pro­grams specif­i­cally cre­ated for first-time users. Len­ovo is look­ing to add more part­ners and also of­fer easy EMI so­lu­tions as part of this GST ad­van­tage roll­out.

Get GST Ready Has­sle free with Ex­o­tel

Ex­o­tel an­nounced the launch of their new cam­paign that fo­cuses on help­ing ERP and Tax Ac­count­ing Soft­ware com­pa­nies man­age leads and make the process smooth and ef­fi­cient. As law­mak­ers are in process of clear­ing out decks for the roll­out of GST, Tally along with 33 other com­pa­nies has re­cently been ap­pointed as GST Suvidha Providers to help busi­nesses tran­si­tion to new regime. Ac­cord­ing to in­dus­try re­ports, less than 10 per­cent of SME’s are in a GST-ready po­si­tion, it is un­doubt­edly a busy time of the year for these com­pa­nies. The one prob­lem that these part­ners face right now is, miss­ing out on po­ten­tial cus­tomers due to missed calls or a busy tone.

Ex­o­tel’s cloud tele­phony ser­vices will help these com­pa­nies man­age the high vol­ume of in­com­ing leads from com­pa­nies who would like to be­come GST ready.

Masters In­dia of­fers GST so­lu­tions

Masters In­dia is geared to make its foray as the lead­ing GST Suvidha Provider (GSP) in In­dia. The Goods and Ser­vices Tax Net­work (GSTN) which is build­ing the tech­no­log­i­cal in­fra­struc­ture for the im­ple­men­ta­tion of GST, has se­lected 34 or­ga­ni­za­tions in­clud­ing Masters In­dia as GSPs. Through this ini­tia­tive, it will of­fer GST APIs and re­turn fill­ing so­lu­tion aimed to aid busi­nesses with GST com­pli­ance. Their of­fer­ings are as fol­lows:

GST APIs: Masters In­dia is of­fer­ing ac­cess to GST APIs, avail­able in syn­chro­nous as well as asyn­chro­nous mode. It is en­abling busi­nesses and Ap­pli­ca­tion Ser­vice Providers [ASPs] to eas­ily in­te­grate regis­tra­tion, re­turns, pay­ments, ledger main­te­nance and other func­tion­al­ity to their ERP, ac­count­ing soft­ware, or com­pli­ance so­lu­tion with GST APIs.

Co-branded GST Com­pli­ance So­lu­tion for as­pir­ing ASPs: Masters In­dia is also of­fer­ing co-branded cloud-based com­pli­ance so­lu­tion to as­pir­ing ASPs who are look­ing to pro­vide a ro­bust so­lu­tion to their clients. As­pir­ing ASPs who do not want to build their own com­pli­ance so­lu­tion, but still want to cater to their ex­ist­ing cus­tomer base or en­ter the com­pli­ance mar­ket, can part­ner with Masters In­dia to bring a win­ning propo­si­tion to the mar­ket. With Masters In­dia’s co-branded so­lu­tion, ASPs can de­liver an end-to-end GST com­pli­ance so­lu­tion to busi­nesses with­out any has­sles.

Its com­pli­ance so­lu­tion, au­toTax, can eas­ily in­te­grate with tax­payer’s ex­ist­ing ar­ray of ERPs, ac­count­ing so­lu­tion, and ecom­merce plat­form and al­lows for seam­less flow of data be­tween ERPs, au­toTax and the Govern­ment servers (GSTN servers). Be­ing a GSP, the or­ga­ni­za­tion adds cred­i­bil­ity and en­ables trust as­sur­ing data pri­vacy and pro­tec­tion. Most im­por­tantly, Masters In­dia pro­vides train­ing and sup­port for the com­pli­ance so­lu­tion that en­sures end users to quickly re­al­ize the ben­e­fit of it.

tal. Af­ter rec­on­cil­i­a­tion with the books and draft GSTR-2, up­load the fi­nal GSTR-2. Rec­on­cil­i­a­tion of the pur­chase reg­is­ter and data down­loaded in the form of GSTR-2 from the GST por­tal will be car­ried out by the ASP for the ben­e­fit of tax­payer.

WHAT TAX PAYER GETS WITH ALANKIT

Tax­payer will be pro­vided with the in­te­gra­tion op­tion so that he can in­te­grate their ex­ist­ing ac­count­ing pack­ages with Alankit GST server. Fur­ther tax­payer will be pro­vided back­end ser­vices by Alankit. Alankit has also re­cently launched a por­tal called www.alankit­gst.com for regis­tra­tion of ASPs, shar­ing rel­e­vant and use­ful com­mu­ni­ca­tion for other stake­hold­ers like for other stake­hold­ers like tax pro­fes­sion­als, CAs, large MNCs, SMEs, Other Busi­nesses, tax­pay­ers etc.

VAYANA NET­WORK: DIG­I­TAL GST DRIVER

Com­menced its op­er­a­tions in 2009, Vayana Net­work of­fers busi­nesses a sim­ple way to man­age their work­ing cap­i­tal and cash flow by en­abling to fi­nance their payables and re­ceiv­ables elec­tron­i­cally through Banks and Fi­nan­cial In­sti­tu­tions. Sim­i­larly, With rich ex­per­tise in in­voice match­ing and help­ing busi­nesses to man­age their work­ing cap­i­tal and cash flow, com­bined with un­fail­ing tech­nol­ogy sup­port since 2009, Vayana Net­work had strong rea­son to par­tic­i­pate and get em­pan­eled as a GSP by GSTN.

San­jay Phadke, Con­sul­tant at Vayana says, ‘As a GSP, Vayana Net­work will fa­cil­i­tate the use of GSTN sys­tem to the busi­nesses as well as ap­pli­ca­tion ser­vice providers to file the GST re­turns, match sales and pur­chase in­voices to set­tle in­put tax cred­its. Vayana GSP serivces will hence help se­cure GSTN from di­rect ex­po­sure to users on in­ter­net as well as dis­trib­ute the load in a large econ­omy like In­dia.’

The GSP will cater to the en­tire spec­trum of multi­na­tional, large, medium or small en­ter­prises, ap­pli­ca­tion so­lu­tions providers, tax con­sul­tants or tax prepara­tory ser­vice providers.

Over­all, Vayana Net­work will man­age the flow of data be­tween ASP so­lu­tion and GST Net­work in a se­cured way with end-to-end data en­cryp­tion for main­tain­ing pri­vacy. On In­fra­struc­ture front, Vayana claims that net­work has been ar­chi­tected for high avail­abil­ity and per­for­mance. De­signed for an­tic­i­pated peak loads of re­turn fil­ing for over 2 mil­lion GSTINs, our GSP’s fi­delity to pub­lish GSTN API’s and shared au­then­ti­ca­tion pro­to­col en­sures se­cu­rity.

Here what San­jay has to say about the net­work, ‘it is cre­ated by a team that has built US Telco and UK banks re­mit­tance sys­tems, Vayana GSP is highly avail­able, se­cure and con­cur­rent with GSTN. It is hosted on state­less elas­tic net­work in­fra­struc­ture; Vayana GSP has hor­i­zon­tal tech stack as­sur­ing high scal­a­bil­ity and avail­abil­ity. A high de­gree of re­dun­dancy is built through multi lo­ca­tion de­ploy­ment, load bal­anc­ing and auto-failover.’

COM­PUTER AGE MAN­AGE­MENT SER­VICES: RAIS­ING GST STOCK

With 25 years of ex­pe­ri­ence as an in­te­gral part of the In­dian Fi­nan­cial in­fra­struc­ture, CAMS Group is an­other GST Suvidha Provider. CAMS is co-owned by — NSESIC, NSE Strate­gic In­vest­ment Cor­po­ra­tion Lim­ited, a sub­sidiary of Na­tional Stock Ex­change, HDFC Group (a fi­nan­cial ser­vices con­glom­er­ate) and Ac­sys In­vest­ments Pvt Lim­ited (the found­ing pro­moter).

As a suvidha provider CAMS be­lieves that there are mul­ti­ple ser­vices that they will pro­vide to a tax payer and CAMS ap­pli­ca­tion will pro­vide mean­ing­ful and ac­tion­able dash­boards, rec­on­cil­i­a­tions that would fa­cil­i­tate Tax Pay­ers in com­ply­ing with GST Law.

M. So­ma­sun­daram, Chief Fi­nan­cial Of­fi­cer at CAMS says, ‘Ap­pli­ca­tion will also send alerts in the form of SMS and eMails on due dates, non-com­pli­ance etc. that would en­able timely and com­pre­hen­sive com­pli­ance. We are build­ing ac­tion­able MIS that would en­able Tax Pay­ers to pro­tect their in­put credit and iden­tify non-com­pli­ant ven­dors. CAMS will also pro­vide var­i­ous file for­mat up­load op­tion so that it is com­pat­i­ble with all types of ERP/ Ac­count­ing soft­ware with­out much changes.’

In terms of IT in­fra­struc­ture, CAMS has three data cen­tres (pri­mary, in-city BCP and far site BCP cen­tre) with huge IT in­fra­struc­ture that meets the MF in­dus­try re­quire­ments. CAMS is also eval­u­at­ing cloud op­tion.

There are GSPs who are fo­cus­ing on some spe­cific ver­ti­cals, on sim­i­lar grounds, CAMS is cur­rently work­ing with fi­nan­cial ser­vices in­dus­try for meet­ing their re­quire­ment of gen­er­at­ing in­voices. So­ma­sun­daram says, ’CAMS is also closely work­ing with NBFC and life in­sur­ance clients as we un­der­stand the in­tri­ca­cies of the trans­ac­tion and do pro­vide a niece prod­uct to them. Since CAMS has more than 63% of stake in Mu­tual fund in­dus­try, CAMS is also work­ing with Mu­tual Fund in­dus­tries and its dis­trib­u­tor for cre­at­ing a very spec­ify soft­ware to cater to their re­quire­ments.’

BOD­HTREE CON­SULT­ING: GST AGE SAL­VA­TION

Hy­der­abad based Bod­htree has been se­lected as one of the GST Suvidha Provider by GSTN for ef­fec­tive im­ple­men­ta­tion of the GST across In­dia. GST ser­vices of Bod­htree are called “GIST” (GST In­tel­li­gent Ser­vices for Tax­a­tion).

GVV Satyanarayana of Bod­htree tells us that their GSP so­lu­tion is built with the best of breed, open source tech­nolo­gies to en­able se­cure, ro­bust and fast com­mu­ni­ca­tion. The GST so­lu­tions comes with some of the salient fea­tures such as Se­cure Com­mu­ni­ca­tion, Scal­a­bil­ity,

Mon­i­tor­ing Your Ac­tiv­ity, keep logs of all com­mu­ni­ca­tion, util­ity APIs.

‘We at Bod­htree are con­struct­ing a su­per in­for­ma­tion high­way in In­dia with scal­able and re­li­able and se­cure con­nec­tiv­ity to GSTN’ says Satyanarayana.

GOFRU­GAL TECH­NOLO­GIES: RE­TAILER’S CHOICE

GoFru­gal Tech­nolo­gies is the only au­tho­rized GST Suvidha provider pro­vid­ing Billing Soft­ware for the Re­tail and Res­tau­rant sec­tor among the 34 GSPs that were short­listed.

GSPs are sub­jected to pro­vide easy ways to tax­pay­ers and stake­hold­ers in in­ter­act­ing with GST sys­tems. From regis­tra­tion of en­tity to up­load­ing of in­voice de­tails to fil­ing of re­turns, GSPs will act as a li­ai­son be­tween the stake­hold­ers un­der the GST regime which is set to be rolled out from July 1.

GVV SATYANARAYANA of Bod­htree

SAN­JAY PHADKE, Con­sul­tant at Vayana

M. SO­MA­SUN­DARAM, Chief Fi­nan­cial Of­fi­cer at CAMS

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