48 Companies Managed to Qualify for GST Suvidha Provider

Last updated on 12 Dec 2016

The GST network has got 48 of the prospective firms on their list who are desiring to be in the service providing team of GST network. The firms will have to acknowledge their efficiency in handling the large database and to become GST Suvidha providers for the upcoming GST regime.

It has been noted that they’re some of the big giants in race to grab the position of suvidha provider and naming few of them are Tata Consultancy Services (TCS), L&T Tech, software and accounting firms such as Tally Solutions, banks like Kotak Mahindra Bank along with consultancy firms like Deloitte and Ernst and Young among others.

Also Read: Goods and Services Tax (GST) Impact on Businesses in India

These shortlisted companies will now have to present demos for the capability they can endure handling the mammoth like task of GST network being provided for assistance. An official source told that, “The sessions will be held in Delhi and Mumbai next week, a post which we will release the list so that the applications can be readied by February next year.”

Some of the other firms are also in the queue for suvidha provider league, firms like Central Depository Services Ltd (CDSL), FINO PayTech, Karvy Data Management Services, NSDL e-Governance Infrastructure, Reliance Corporate IT Park, Thomson Reuters India, has taken another step by qualifying themselves into the GSTN associate.

Officials also added that “All the industry big names have come forward and we are will make sure that people of proven track record and technical competence are chosen.” Indeed, even the organizations which did not qualify for the underlying round that offers front end benefits by tying up with either NSDL or any of the qualified administration supplier at the back end.

An imminent media firm reported recently that GSTN arrangements to empower organizations that don’t qualify the criteria to offer administrations as well, in any case, they won’t get immediate access to the GSTN. Rather, their administrations will be steered through NSDL, the National Securities Depository, and other qualified administration suppliers. Other endorsed benefit suppliers have been commanded to give their operational service to any startup that desires to give GST administrations.

Technology service provider firm SAP told in a statement that, “it will be an Application Service Provider (ASP) for the upcoming Goods and Service Tax (GST) implementation in the country. GST is expected to play a significant role in opening up the industry to smaller businesses and offer them equal opportunities to compete and excel using a ‘one-nation, one-tax’ approach. Technology will drive this shift as it is expected to influence all the core processes of businesses across sectors.”

The officials said that “once the first round of GST Suvidha Providers has been finalized, it will start the next round to bring more companies on board in order to avoid monopoly or cartelization.” GSTN, a non-revenue driven substance, which is building the IT spine for the progressive expense change propelled its entrance on November 8. The office arrangements to open its framework for other greater conditions of West Bengal, Bihar, Orissa and so forth from one week from now which is further anticipated that would increase the enlistments. So far around 1.5 lakh enrollments have occurred with right around 1 lakh originating from Gujarat – involving very nearly one-fourth of the aggregate citizen base of the state. So far just two major conditions of Maharashtra and Gujarat were on-board with the rest being all union domains.

With some latest reports of GSTN being sourced, the final companies shortlisted for the GST suvidha providers are listed below:

Tata Consultancy Services, Deloitte Touche, EY and Tally Solutions were among the 34 firms shortlisted provide an interface between the new Goods and Services Tax (GST) server and taxpayers. Prominent among the short-listed are Karvy Data Management, Mastek Ltd, MothersonSumi Infotech, NSDL e-Governance Infrastructure, Ramco System, Reliance Corporate IT Park Ltd, Tera Software, Alankit Ltd, Bodhtree Consulting, Botree Software, Central Depository Services, Computer Age and Cygnet Infotech, according to GSTN. The government portals will be having a G2B (government to business) structure.

Recommended: GST Forms: Return Filing, Rule, Registration, Challan, Refund, Invoice