Tata Consultancy Services, Deloitte Touche, EY and Tally Solutions were among the 34 firms short-listed today to provide interface between the new Goods and Services Tax (GST) server and taxpayers.
GSTN, the company that is tasked with building the world's biggest and most complex tax framework, short-listed these 34 companies to be the GST Suvidha Provider (GSP).
The GSP is mandated to provide innovative and convenient ways to taxpayers and other stakeholders in interacting with the GST Systems from registration of entity to uploading of invoice details to filing of returns.
Prominent among the short-listed are Karvy Data Management, Mastek Ltd, MothersonSumi Infotech, NSDL e-Governance Infrastructure, Ramco System, Reliance Corporate IT Park Ltd and Tera Software, according to GSTN.
The taxpayer under the GST regime that the government intends to roll out from April 1 will have to provide invoice data as well as filing of returns.
In addition to the aforesaid services, the GSP will maintain taxpayers' individual business ledgers (sales and purchase ledger) and other value added services around the same.
While the GST Systems will have a G2B (government to business) portal, a wide array of taxpayers like SMEs or small retail vendors may require different facilities like converting their purchase and sales register data in GST-compliant format, integration of their accounting packages with the GST System.
Similarly, the specific needs of an industry or trade could be met by the GSP. In short, the GSP can help taxpayers in GST compliance through their innovative solutions.
Another key service the GSP is expected to offer is automatic reconciliation of purchase made and entered in the purchase register and data downloaded in the form of GSTR-2 from the GST portal.
In addition, there will be sector- or trade-specific needs that the GSP is expected to fulfil.
Other firms short-listed include Alankit Ltd, Bodhtree Consulting, Botree Software, Central Depository Services, Computer Age and Cygnet Infotech.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
