NEW DELHI: Technology company SAP and industry body Assocham on Wednesday launched a knowledge-sharing resource centre to help organisations manage changes in their business processes and information systems as a result of the upcoming Goods and Services Tax (GST) roll-out. The resource centre, called SimpleGST, will be a one-stop portal for businesses and will provide information on key areas such as tax computation, master data management and business process localisation. The roll-out of the new GST regime will necessitate over 51 million SMEs in India to consider reinvesting or redefining their business processes. “It is estimated that over three to five billion invoices will be uploaded on GST Network every month, and over 40% of these transactions will be processed through an SAP system,“ said Neeraj Athalye, head of SAP S4HANA, SAP Indian Subcontinent. At a panel discussion during the launch, participants said rerouting supply chain and compliance are two important parts for effectively imple menting GST.

Source: Economic Times October 27, 2016 05:53 UTC