E- commerce giant Snapdeal on Tuesday has announced that its platform successfully implemented new Goods and Services Tax Regime in their system. The new regime will be improving taxation system, order processing, catalogue system, invoicing and ERP systems of Snapdeal.
Till 30th June nearly 92 percent of sellers had registered their GST number with Snapdeal. Along with seller partners, Snapdeal has rebuilt its seller panel services keeping in mind new tax regime, including invoice formats, commission invoices to sellers, taxation reports and much more. Through panel, sellers are able to file their taxes and acquire all documents.
GST Guru is a platform running by Snapdeal which solves the queries and problems of sellers related to the new regime. Through GST guru platform, Snapdeal has guided ten thousand sellers providing clarity related to the GST compliance including new forms, returns, credits and treatment of stocks in warehouses.
Snapdeal has also allotted default HSN code to each product sold on its platform in order to furnish smooth transition services to sellers. Through HSN code facility, sellers will not face any problem in finding the right code of their products. At the same time, they also have an alternative to change the code as per their necessities.
“We are proud to support the government in its vision of One Nation One Tax and have been working closely with all stakeholders to enable the same on our platform. Given all these proactive measures, we are confident that together with our seller partners, we will move into the GST era seamlessly. Snapdeal experts will continue to assist and guide the sellers through this period of transition,” said Anup Vikal, Chief Financial Officer, Snapdeal.
Read Also: Challenges for Corporate Chief Financial Officers in Upcoming GST
In the views of Anup Vikal, We are trying our best to fulfil the government vision “One Nation, One Tax, One Market”. To implement all GST rules successfully we have been working with all stakeholders. Experts and officials of Snapdeal will be assisting and providing the directions to registered sellers through this period of transition.
As per the GST laws, Snapdeal has been registered in all the states, places where it has the operating business. It has also accomplished all essential accounting and ERP changes to fulfil the compliance of the new regime as well as settled down its ASP/GSP partner, return filing and reconciliation process.