MUMBAI, India — SAP SE (NYSE: SAP) today announced the launch of ‘GST in a Box’, an all-inclusive solution portfolio, to help Indian organizations of all sizes and across industry verticals to become GST compliant.
Reaffirming its commitment to establishing a GST ready economy, the company embarks on a 21 city ‘GST Health Check Drive’ to evaluate and educate organizations that are preparing for their transition to the GST regime. The initiatives, created under the aegis of ‘Grow with SAP’ campaign, also place special emphasis on enabling Indian SMEs digitize their business and achieve sustainable growth in the GST era.
The GST Bill, which is currently expected to be implemented on July 1, 2017, is one of the most significant tax reforms for the country and is a prime opportunity for businesses to transform themselves to thrive in the new age Digital Economy. SAP, as an application service provider (ASP) for GST, has been a frontrunner in reaching out to and providing technology expertise to businesses and the ecosystem preparing for this shift. Through various initiatives since 2014 such as the launch of online resource center, industry events and webinars, white paper, industry work groups and consulting notes, SAP is committed to providing businesses with the necessary consultation and technology to efficiently adopt the GST policy.
SAP’s ‘GST in a Box’ solution has been designed to help organizations become tax compliant and tax efficient in the GST environment. It also enables organizations to effectively manage suppliers, customer engagement and supply chain in the new tax regime. Through the ‘GST Health Check Drive’, SAP, along with some of its partners including YASH Technologies, vCentric, itelligence, Fujitsu, Softwin, Infocus, Entune, Corporate Serve and SAVIC, will provide enterprises a free ‘GST Health Check’ to help them understand their GST compliance level and build a readiness plan. Kick starting in Mumbai, the ‘GST Health Check Drive’ will cover Ahmedabad, Bangalore, Coimbatore, Delhi, Hyderabad, Kolkata, Chennai, Pune, Kochi, Jaipur, Indore, Ludhiana, Bhubaneshwar, Surat, Nasik, Chandigarh, Aurangabad, Vizag and Rajkot in a span of two months.
“We believe GST is capable of generating a more stable source of revenue for the nation. To make this tax regime real-time, effective and transparent, businesses will have to go DIGITAL.” said Neeraj Athalye, Head, S/4HANA & GST Adoption Drive, SAP India. “Out of an estimated 4-5 billion invoice uploads that will happen every month, since more than 40% of transactions will pass through an SAP system, it is upon us to not only help Indian corporates swiftly get compliant with this new law, but also ensure that businesses benefit from the GST vision.”