NEW DELHI: HP India, in collaboration with KPMG, on Monday launched a secure and affordable invoicing platform called “GST Solution” to help millions of traders and micro, small and medium enterprises (MSMEs) move seamlessly 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 has 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.
It facilitates the entire process from inputting purchase invoices, generating 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.
“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 empowering MSMEs, the solution can also support large organisations 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 can help indicate loopholes in the ecosystem in the form of a tax credit leak at any nodal point.