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 cobranded 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.
Nishank Goyal, CEO at Masters India states, “Tax automation will become critical in meeting regulatory requirements after Goods and Services Tax is implemented. GST regime mandates a high level of synchronization between tax payer’s system and GST system, which without automation will be a difficult task. Item level detail in invoices, with reconciliation of sales register and auto-populated purchase register, on a minimum three monthly returns, other events such as auto reversals demands automation of tax compliance process within any tax entity.”