SAP launches ‘GST in a Box’ to help SMEs with GST compliance
01 Mar 2017
SAP today said it has introduced 'GST in a Box', an all-inclusive solution portfolio, to help Indian busineses of all sizes and across industry verticals to become GST compliant. It said it is embarking on a 21-city 'GST Health Check Drive' to evaluate and educate businesses that are preparing for their transition to the GST regime.
The initiatives, created under the aegis of 'Grow with SAP' campaign, also place special emphasis on enabling Indian SMEs digitise their business to grow in the GST era.
The GST Bill, which is currently expected to be implemented on 1 July 2017, is one of the most significant tax reforms for the country and is a prime opportunity for businesses to transform themselves to thrive in the new age Digital Economy.
SAP said its 'GST in a Box' solution has been designed to help organisations become tax compliant and tax efficient in the GST environment. It also enables organisations to effectively manage suppliers, customer engagement and supply chain in the new tax regime. Through the 'GST Health Check Drive', SAP, along with some of its partners including Yash Technologies, vCentric, itelligence, Fujitsu, Softwin, Infocus, Entune, Corporate Serve and SAVIC, will provide enterprises a free 'GST Health Check' to help them understand their GST compliance level and build a readiness plan.
Starting in Mumbai, the 'GST Health Check Drive' will also cover Ahmedabad, Bangalore, Coimbatore, Delhi, Hyderabad, Kolkata, Chennai, Pune, Kochi, Jaipur, Indore, Ludhiana, Bhubaneshwar, Surat, Nasik, Chandigarh, Aurangabad, Vizag and Rajkot in the next two months.
''We believe GST is capable of generating a more stable source of revenue for the nation. To make this tax regime real-time, effective and transparent, businesses will have to go Digital,'' said Neeraj Athalye, head, S/4HANA & GST Adoption Drive, SAP India. ''Out of an estimated 4-5 billion invoice uploads that will happen every month, since more than 40 per cent of transactions will pass through an SAP system, it is upon us to not only help Indian corporates swiftly get compliant with this new law, but also ensure that businesses benefit from the GST vision.''
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