GST , the biggest tax reform happening in the history of India , has created many ripples across the various sectors of the industry , to make themselves compliant with GST and the associated IT infrastructure and in the internal systems and processes. Unlearning the existing knowledge and processes and re-learning something new , though is interesting , is also equally challenging. GST has made all of us take up this challenge on all fronts of our organisational functions including one of the most critical and important function of IT. An IT department of any organisation mainly has two aspects namely the hardware and IT infra management and the software’s (ERP’s) to assist in the daily performance of the tasks related to various functions like finance and taxation , marketing , HR , logistics , production planning and forecasting , sales and distribution and so on and so forth. Every ERP or a finance related software has a certain set of processes and rules configured based on which they process the user transactions and give the desired results. Some of such rules are customised to the organisational processes and others are inherent to the underlying ERP’s and have to be followed in the same way. Now , GST poses a big question in front of everyone as to what has to be changed , what can remain as it is and what additional would be required. This is where , we , at Bizsol IT , help provide you with all the required assistance in this shift. Having implemented our own solutions for EOU’s , EXIM , Excise across industry sectors , we have gained vast experience in the associated industry processes and our gained expertise in the field of indirect taxation added with the expertise of our parent company Bizsol India Services helps to make this as a seamless transformation. To be very precise this is what Bizsol IT does to transform your systems to GST regime
- Map the existing ERP organisation structure and align the same with the GST requirements.
- AS IS study of the existing underlying ERP processes related to material flow – inward and outward , finance , billing , master data , system outputs and documents generated etc.
- Based on the AS IS study , recommend the changes required in the material flow transactions , financial transactions , master data , outputs , additional processes and outputs required in the GST.
- Provide training to your IT team with the GST processes.
- Participate in the implementation reviews , related to the recommended GST changes.
- Testing of the outputs and processes post GST patches / changes in your underlying system.
- Prepare the data points for the purpose of GSTN upload
and many other related required advise on the system restructuring front….
With Digital India reformation , government is taking all steps to ensure the successful implementation of the same , and GSTN is one such example. GST requires all the taxpayers to upload their sale purchase data online on the GSTN system and all the tax records of each taxpayer entity is maintained online by GSTN. Punching of such huge data everyday on the system is a task for the user and GSTN has eased out this pain by providing the facility of bulk data uploads on the GSTN portal. This facility requires establishing a connectivity with the portal for upload of bulk data , which can be done via only a selected few recognised as GSP’s (GST Suvidha Providers ). ASP’s (Application service providers ) can rent this connectivity from the GSP’s and through their own developed solutions for the uploads or bought out solutions can upload data on GSTN. In addition , the pre-condition laid down by GST law for availing of the input tax credit is matching of the purchase data on the GSTN with your vendor data namely what you upload as your purchase should also be included by him in his data load for sales and both should match based on the matching criteria as prescribed. This comes as an added angle to the whole story with its own inherent complexities of data matching. With Bizsol IT as your solution partner , you need not worry on all the above complexities of uploads and reconciliations and we ensure seamless integration of your data on GSTN through our Bizsol GSTN solution , supplemented with our Bizsol Reconciliation solution featuring some of the characteristics as :
- Multi Layer Multi Key Configuration Reco Module.
- Multi source reco of GSTR2 v/s Purchase Data v/s BOE v/s GRN via inbuilt system features of data downloads from ERP , auto reading of import information from BOE text file , download GSTR2 and re-upload post reconciliation.
- Reco based on pre-set but expandable rules based on data.
- Multi level , Multi line , multi point reconciliations.
So why worry…….come join us in exploring this new tax revolution and make it an interesting transition for you……..