Thomson Reuters, along with NSDL e-Gov, to offer solution for GST
Thomson Reuters and NSDL e-Governance (NSDL e-Gov) have agreed to offer an integrated Goods and Services Tax (GST) proposition for large and mid-sized corporations in India. Based on a Memorandum of Understanding (MoU) signed, this solution will enable seamless calculation and filing of returns under the new tax regime. They have also agreed to collaborate to leverage Thomson ReutersONESOURCE Determination solution to provide value-added services, including validation services, for Micro, Small and Medium Enterprises (MSME) segment.
The integrated proposition for large and mid-sized corporations would address two key areas for corporations under the GST regime, namely (i) efficient and accurate calculation of taxes across multiple platforms, and (ii) the associated filings, returns and reconciliation mechanisms. This offering will combine Thomson Reuters global ONESOURCE Determination solution (which has been customized for India GST) with NSDL e-Gov’s ASP compliance platform, which will be linked to NSDL e-Gov’s GSP solution. Thomson Reuters offering will be an added service on NSDL e-Gov’s existing GST Suvidha Provider portal. NSDL e-Gov’s GSP platform is currently being updated, as per the guidelines set by the GST.
Pradeep Lankapalli, Managing Director, Thomson Reuters South Asia, said, “Trusted technology provider will be critical to ensuring a smooth GST implementation. Thomson Reuters indirect tax platform integrated with the NSDL e-Gov’s solution provides an end-to-end offering combining the benefits of accurate determination of tax and seamless compliance into the GSTN.”
Gagan Rai, MD and CEO, NSDL e-Gov, said, “We are excited to partner with Thomson Reuters to launch the integrated GST proposition. As the GST initiative is set to bring opportunities in the Indian market, we aim to be the leading solution provider by offering a comprehensive GST proposition with remarkable performance and value. This proposition will help the taxpayers by simplifying the tax return filing process.”