GST May Just Pressure Indian Firms To Improve IT Infrastructure
Many Indian corporations have begun discussions with their IT carriers and tax advisors to improve their programs to allow tracking of goods and prognosis of tax and other price implications as soon as the products and services tax (GST) regime comes into force. Companies are primarily upgrading their undertaking resource planning (ERP) — a category of business-management tool — as a way to accommodate the complexities of calculating GST. ERP helps firms manage and screen everything within the service provider, including supply chain, finance and even human resource functions. SAP and Oracle are the large gamers in the Indian ERP house. Many companies will have to move from their current gadget, the place each transaction is recorded one after the other, to an upgraded machine the place there is a correlation between every entry, in keeping with business executives. "GST will primarily affect master information management, tax computation and business process localisatio...