A joint collaboration between HP India and KPMG was announced recently. The alliance was made to launch a safe and affordable invoicing platform called “GST Solution” to assist millions of traders and micro, small and medium enterprises (MSMEs) to shift flawlessly to the new GST regime.
“GST Solution” has the capability to 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.
“HP has participated in every significant milestone of central and state government’s digital journey, starting from printing the first computerised railway ticket to enabling several ‘Digital India’ initiatives,” Sumeer Chandra, Managing Director, HP Inc. India, told reporters here.
The end-to-end solution comprises of hardware from HP, GST invoicing software by KPMG, Cloud storage for storing invoice data, uninterrupted GST Suvidha Provider (GSP) access, e-sign, GST registration and migration services. Also, it assists the complete procedure from inputting purchase invoices, generating sales invoices, managing the input credit ledger and generating reverse charges.
The solution provides a helping hand to the businesses receive the tax credit through automatic reconciliation of purchase invoices to make sure a faultless transition to the new taxation structure.
“KPMG is proud to assist in advancing the adoption of GST and, in fact, to be associated with all of the signature initiatives of the Indian government,” said Arun Kumar, Chairman and CEO, KPMG India.
In addition to authorizing the MSMEs, the solution offers huge support to large organizations put into effect a command wherein their vendors, distributors and dealers are on the GST system, obeying with the process and filing their GST returns precisely.
Additionally, the solution also helps point out loopholes in the ecosystem in the form of a tax credit escape at any nodal point.
Well that’s not all; HP will also allow specialized help desk support which will include tax experts for GST-related queries and operational assistance via calls, emails and chats.