HP and KPMG launches comprehensive GST solution for traders & MSMEs

|May 29, 2017 0

BANGALORE, INDIA: HP India in collaboration with KPMG has launched a comprehensive invoicing platform – “GST solution” to help transition millions of traders and Micro, Small & Medium Enterprises (MSMEs) to Goods and Services Tax (GST) regime.

Arun Kumar, Chairman & CEO, KPMG India said, “To implement GST, six million micro, small and medium enterprises (MSME) need to adapt their invoicing approaches, an enormous endeavour.”

“GST solution” will support users to file all their transactions as per the new tax norms in a convenient manner and also reduce the invoice reconciliation requirements of large companies.

Sumeer Chandra, MD, HP Inc. India said, “GST is a major tax reform and we are confident that the GST Invoicing solution from HP and KPMG will enable traders & MSMEs in the country make a smooth transition to the new tax regime and enhance their contribution to India’s economic growth.”

The end-to-end solution comprises of HP hardware, GST invoicing software by KPMG, cloud storage for storing invoice data, uninterrupted GST Suvidha Provider (GSP) access, e-sign, GST registration and migration services. The solution facilitates the entire process from inputting of purchase invoices, generation of sales invoices, managing the input credit ledger, and generating reverse charges. The solution also helps businesses receive the tax credit through automatic reconciliation of purchase invoices to ensure a seamless transition to the new taxation structure.

Ensuring business continuity to users, HP will also enable specialized help desk support of tax experts on call, email and chat for GST related queries and operational assistance.

In addition to empowering MSMEs, the solution can also support larger organizations enforce a regime wherein their vendors, distributors and dealers are on the GST system, complying with the process and filing their GST returns accurately. The solution acts as a unified platform that can ensure ease of invoice generation and reconciliation across vendors and sub-vendors in the ecosystem.

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