HP India and KPMG today announced a new solution for traders as well as micro, small and medium enterprises to transition onto the Goods and Services Tax (GST) regime, to be rolled in just over a month. Touted as the biggest tax reform since independence, the GST will unify 16 different taxes and will transform India into a single market.
Companies will now have to rejig their IT strategy to comply with the tax filing, refund and return norms under the GST regime, which is set to kick-in from July 1.
The integrated ‘GST solution’ unveiled by HP India and KPMG today is a combination of hardware, GST invoicing software, cloud storage (for storing invoice data), e-sign, GST registration and migration services, along with two years of helpdesk support.
The helpdesk managed by specialised tax experts will support users on GST related queries and operational issues.
The base price for the new solution – which will be available in English and Hindi initially – is Rs 33,990. Businesses can also go for interest free equated monthly instalment option, and pay Rs 1,650 for 24 months.
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“The solution facilitates the entire process from inputing of purchase invoices, generation of sales invoices, managing the input credit ledger, and generating reverse charges,” a joint release said.
The solution also helps businesses receive the tax credit through automatic reconciliation of purchase invoices to enable a smooth transition to the new taxation structure. The solution will be ready for delivery from June 5. It will be available through HP business partners, HP World Stores and also online.