Thomson Reuters, NSDL Partner To Offer GST Solution To Enterprises
Thomson Reuters and NSDL e-Governance Infrastructure, have signed a MoU to offer a joint tax determination solution for GST. According to the MoU, the tax determination engine aims to offer tax validation, tax determination and tax compliance services to medium and large enterprises.
Thomson Reuters and NSDL e-Governance Infrastructure will collaborate to leverage Thomson Reuters OneSource tax determination solution to provide value added services, including validation services for SMEs. This offering will be an added service on NSDL E-Governance’s existing GST Suvidha Provider portal and simplify the tax return filing process.
“GST is said to be the biggest tax reform in the country and technology is the anchor for this transformation. We have provided a track to solve the GST related issues that enterprise may face during the course of this transition. It is a proven software platform and we have already customized it to the Indian GST requirements. The unique thing is our solution is supplementary to the existing ERP solutions”, said Pradeep Lankapalli, Managing Director, Thomson Reuters, South Asia.
NSDL e-Governance Infrastructure is one amongst the 34 companies shortlisted by the Goods and Services Network (GSTN) for providing the GST interface. Talking exclusively with CXO Today, Gagan Rai, MD and CEO, NSDL e-Governance Infrastructure said, “It is very easy to calculate tax for a single product company, whereas; it is a bit difficult task to determine taxes for various categories of products for large companies. That is where Thomson Reuters and e-Governance are going to help enterprises to find a solution to seamlessly file GST returns.”
NSDL e-Governance Infrastructure has recently announced pricing for taxpayers under GST. According to ET, the GSP will charge Rs 2700 a year for returns that business are expected to file every month under the new tax regime. On the question of readiness of GSPs for tax filing, Rai said, “We are ready as much as the ITR set provided by the GST, but some of them are yet to come. However, whatever has been provided to us, we are trying to get ready by July 1.”
Rai said that the enterprises needed a massive amount of training to prepare for GST and e-Governance Infrastructure was committed to help the business to gear up for the new tax regime. “There is a massive need of training to businesses on the new tax regime, especially the charter accountants, TRPs, tax consultant require training on advising their clients on GST compliance. We have already started training these people in collaboration with their respective associations,” Rai said.
NSDL e-Governance Infrastructure has facilitation centres, where people can go and file returns. Besides that it also provides an offline facility for filing returns. These services mainly cater to the small and medium enterprises.
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