HP and KPMG introduce ‘GST solution’ for traders, MSMEs

New Delhi [India], May 29 : HP India in collaboration with KPMG on Monday announced the launch of a comprehensive, secure and affordable invoicing platform 'GST solution' to help transition millions of traders and Micro, Small and Medium Enterprises (MSMEs) to Goods and Services Tax (GST) regime.

The newly launched 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.

Ensuring business continuity to users, HP will also enable specialized help desk support of tax experts on call, email and chat for GST related queries and operational assistance.

-Dedicated help desk managed by specialised tax experts to support users on GST related queries and operational issues including tax filing returns for 24 months -Introductory training on day-to-day transactions and GST filing -Available through all leading HP business partners, HP World stores and hpshopping.in/GST -Vulnerability and Penetration Testing protocols to ensure complete security of users' sensitive data -End-to-end solution available from June 5, 2017 onwards at a price of Rs 33,990/- or on an interest free EMI of 1,650/- for 24 months The end-to-end solution comprises of hardware from world's leading PC brand - 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.

The solution facilitates the entire process from inputting of purchase invoices, generation of 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.

"GST is a major tax reform and we are confident that the GST Invoicing solution from HP and KPMG will enable traders and MSMEs in the country make a smooth transition to the new tax regime and enhance their contribution to India's economic growth," said MD HP Inc.

India, Sumeer Chandra. "To implement GST, six million micro, small and medium enterprises (MSME) need to adapt their invoicing approaches, an enormous endeavor.

To help these MSMEs make the transition and alleviate associated IT challenges, KPMG has joined hands with HP to launch a comprehensive GST invoicing solution, GST solution.

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 Government of India," said Chairman and CEO KPMG India, Arun Kumar.

In addition to empowering MSMEs, the solution can also support larger 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 also help indicate loopholes in the ecosystem in the form of a tax credit leak at any nodal point.

The solution acts as a unified platform that can ensure ease of invoice generation and reconciliation across vendors and sub-vendors in the ecosystem.

Source: ANI