Moneycontrol PRO
HomeNewsBusinessCompanies
Oct 24, 2017 04:50 PM IST | Source: Moneycontrol.com

Infosys says its 'finest engineers' are working on fixing GSTN problems

Infosys had won the Rs 1,380 crore contract in 2015 to build and maintain the technology network for implementing the GST system across the country for five years.

Infosys says its 'finest engineers' are working on fixing GSTN problems

Infosys said on Tuesday that while several stakeholder concerns have been raised about the Goods and Services Tax Network (GSTN) — built and maintained by the software major — some of the “finest engineers” at the company were working on resolving the issues with the IT backbone of the new tax regime.

Infosys had won the Rs 1,380 crore contract in 2015 to build and maintain the technology network for implementing the GST system across the country for five years.

While announcing its earnings for the second quarter of FY18, Infosys said that till date 37 crore invoices have been uploaded on the system, which is designed to handle 300 to 320 crore invoices every month.

According to Infosys, 70 lakh tax payers have successfully migrated to the new system and the country has recorded 25 lakh new registered taxpayers, along with the integration of central and state level tax regimes, including all 29 states and seven Union Territories.

The system is able to manage one lakh active users and saw peak loads during the last two days of filing, with 50 percent of the filings done in that timeframe and 70 percent of the collection achieved with just 25 percent of server utilisation, demonstrating the system’s ability to manage scale, Infosys said in a filing to the Bombay Stock Exchange.

“Any large project of this scale, especially a transformative one like this has to deal with changes in both policy and stakeholder usability. Some of these modifications have resulted in rapid changes to the system particularly due to its integration with heterogeneous IT ecosystems including GST Suvidha Providers, Aadhaar, Central Board of Excise and Customs and Model 1 states,” Infosys said.
Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347