GST Solution fulfills all requirement of tax payers

Prakash Kumar, CEO- GSTN

“I am really happy to see a solution which has been put by both the giants that takes care of the machine, the connectivity, the applications and the most important part, the support; everything bundled into one on a per month fee and that’s ideal for our MSMEs who constitute a huge percentage of our tax payer base. Just to give you some statistics on the data, in 2015-16 from all the states, below Rs 1.5 crore turnovers, the percentage of tax payer was 87%. That’s a huge number and those are the people whom we are looking at as how they will comply with the requirements, create a GSTR-1 and then reconcile all their purchases with all the supplies which have been made. And why this happens because under GST there are no paper based returns. So all the returns have to be filed electronically and the main return which is the ‘supply return’ will consist of the details of B2B invoice data and consolidated data on B2C. Of course businesses involved in Exports will also come into it.

So our tool was very much required. This is the second solution which I have seen of this kind which covers everything from generation of invoices, creation of GSTR-1, doing reconciliation, uploading GSTR-1, GSTR-2 and taking care of all the requirements which are there for the taxpayer. Talking about the security, we have used the best of class security available in the country and it is fully secured, because the data which is getting collected is automatically encrypted and copied into various formats and then fully secured. In the recent approval, the government has allowed Electronic Verification Code ( EVC) based on Aadhaar number, so anyone who wants to file need not to have a digital signature or the E-signature. He can also use the EVC the way income tax allows and that will be the big thing for small tax payers because they don’t need to buy a DSC dongle or go for e-sign. They can simply use their Aadhaar for authentication.”

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