BENGALURU: The Goods and Services Tax Network (GSTN) has shortlisted 34 companies as Goods and Service Tax Suvidha Providers (GSP). Tata Consultancy Services, Tally Solutions, Deloitte Touche and EY are a few that find place on the list.
According to the GSTN, this will be an interface between the new Goods and Services Tax (GST) server and the taxpayers. GSTN is the company that is tasked with building the world’s biggest and most complex tax framework.
The mandate of the GSP is to provide innovative and convenient ways to taxpayers and other stakeholders in interacting with the GST systems right from registration to the uploading of invoice details for filing returns.
Prominent shortlisted companies are Karvy Data Management, Mastek Ltd, Motherson Sumi Infotech, NSDL e-Governance Infrastructure, Ramco System, Reliance Corporate IT Park Ltd and Tera Software, according to GSTN.
Under the new GST regime which is yet to be rolled out the taxpayer is obliged to provide invoice data as well as file returns. The GSP will also maintain the taxpayers’ individual business ledgers (sales and purchase ledger) and other value added services.
SMEs and small retail vendors who need to pay taxes might require different facilities like converting their purchase and sales register data in GST-compliant format and integrate their accounting packages with the GST system, which will have a G2B (government to business) portal.
The GSP has been built to meet specific needs of the industry and help taxpayers in GST compliance through their innovative solutions. The GSP will automatically reconcile to the purchase made and enter it in the purchase register.