State-run telecom provider, Bharat Sanchar Nigam Limited (BSNL) will help organisations of all sizes throughout India to create, consolidate and file their Goods and Services Tax (GST) returns through SAP, in accordance with a Memorandum of Understanding between BSNL and SAP.
The partnership is intended to simplify the GST process for organisations, particularly SMEs, by leveraging the strengths of BSNL as GST Suvidha Provider (GSP) and SAP as Application Service Provider (ASP). BSNL, which views the GST as an enabler of digital growth in India, currently serves approximately 115 million customers across the nation.
“As an intrinsic part of the Government’s Digital India initiative, we see GST as an important tool in the process for nation building,” said Shri Anupam Srivastava, chairman and managing director, BSNL. “Our mission is to ensure that every business in every town and village in the nation successfully adopts GST,” he said.
“As we complete nearly a year since implementation of GST, the nation’s indirect tax system has streamlined considerably,” said Hemant Dabke, vice president – Strategic Industries, SAP Indian Subcontinent.
“Our collaboration with BSNL is a step further in our continued efforts at fast-tracking GST compliance in the country and will extend this success to tier II and tier III markets of the country.”
Launched on July 1, 2017, the GST initiative is one of India’s largest tax reforms. Under the tax regime, more than 51 million SMEs in India are in a position to reinvest in or redefine their business processes.
The new regime is intended to ensure that indirect tax rates and structures in India are common across the nation and to remove the previous cascading taxes by applying a system of tax credits throughout the value chain.