The market is flourishing with the latest and updated share of software and tools to help and assist the taxpayer with return filing and registering on goods and service tax but now the concern is shifted towards the government’s initiative of making an offline tool for the taxpaying entities. The GST network is an authoritative figure in developing the structure for the goods and service tax network for the country upcoming new taxation regime.
The authoritative department is currently in the process of a producing offline tool for the taxpayers who can avail the services of filing their returns and upload their invoices. Himanshu Jain, the founder of legal services provider LegalRaasta, commented that “The offline tool can eat into almost 20-30% of the market share we had projected while building our GST tools.”
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The Application service providers are in rush to claim the opportunity in their bag, as the market tilts around the corner of governments owned application which is considered to be sluggish and non-practical. Various other market competitors, like Clear Tax which provides the services of tax filling, are stating that the GSTN tool will somehow create a threat towards the currently software production for GST assistance, but also encouraged by adding that the market competitors and design and develop innovative and best in class tool to naturally attract the client base without any hardship.
Prakash Kumar, CEO at GSTN came forward to say some important news about this issues that, “The concern was raised in our first meeting in January last year in which we made clear that we will offer a service to minimize costs for taxpayers. However, specialized and customized solutions are still needed which the GSPs can offer.”
