'We as a company want to see our customers transition smoothly to GST'
Nishank Goyal, CEO - Masters India
The implementation of Goods and Services Tax (GST) is going to provide a big business opportunity for Indian IT companies. It comes at a time when the sector is going through some tough time with concerns regarding a slowdown in the global economy.
Industry experts believe that the opportunity that the GST roll out will give rise to will be somewhat similar to the Y2K problem in 2000 and will be worth USD 1 billion business opportunity. Another report says that the GST will present an Rs 6,000 crore opportunity for IT companies in the next couple of years, and later become an annuity business. Cloud-based service providers are also expected to gain from the huge storage requirements from both the state and the Centre.
For Masters India, the idea for getting into GSP services is to start specializing as a company in the GST space, while it also saw a good opportunity to basically reach out to as many companies as possible. “Then there is the compliance requirement every business has to consider before migrating to the GST regime. We as a GSP would help companies and make their transition to GST easy and convenient ,” says Nishank Goyal, CEO - Masters India.
In a move to promote GST and assist on the various procedures involved, Masters India has ventured into collaboration with BSNL to provide a set of veritable solutions for GST compliance. These solutions are exclusively crafted for BSNL users- both landline and mobile, available on a PAN-India level.
The solutions are ready-to use with ease in registrations - BSNL users can register themselves using their respective account numbers. Post which, they can straight away file returns without the hassles of waiting in a queue.
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