SAP a leading technological advancement organization and Assocham which is an industry oriented operation structure, both of these giant bodies, has now started a knowledge sharing platform which is advising upon various significant changes which will be implemented into the business structure after the roll out of GST.
The SimpleGST named resource has been called as a whole solution to the changes one would have to implement in their business units and in all the significant areas of operation like tax computation, master data management, and business process localization.
DS Rawat, secretary general, Assocham mentioned about this new platform, “GST has opened up opportunities for businesses in over 160 countries and helped them move beyond the physical constraints to expanding exponentially by harnessing digital prowess.”
Around 51 million SME in India will have to take step accordingly to the newly implemented GST regime. Neeraj Athalye, head of SAP S4HANA, SAP Indian Subcontinent said that “It is estimated that over three to five billion invoices will be uploaded on GST Network every month, and over 40% of these transactions will be processed through a SAP system.”
The early preparations of the GST will surely give advantages over the upcoming complexities arising from the structure of business units and will make worthy to be implemented in the backbone of the Indian economy. Arun Subramanian, VP, Globalization Services, SAP India stated that, “SAP now sees a huge responsibility to get India Inc compliant with the upcoming law and is thus working in close collaboration with customers across industries, the overall ecosystem (including GSTN) to provide solutions for a smooth transition to goods and services tax (GST).”
