48 Firms has shortlisted to become service providers for GST Networks Termed as GST Suvidha providers.
These include technology companies such as Tata Consultancy Services (TCS), L&T Tech, software and accounting firms such as Tally Solutions, banks like Kotak Mahindra Bank along with consultancy firms like Deloitte and Ernst and Young among others.
According to a government official, the shortlisted firms had met the financial criteria set by the agency and they will be called for “demos” of their applications in order to technologically evaluate them. “The sessions will be held in Delhi and Mumbai next week, post which we will release the list so that the applications can be readied by February next year,” said the person.
Other names include the Central Depository Services Ltd (CDSL), FINO PayTech, Karvy Data Management Services, NSDL e-Governance Infrastructure, Reliance Corporate IT Park, Thomson Reuters India etc.
“All the industry big names have come forward and we are will make sure that people of proven track record and technical competence are chosen,” added the official.
Even the firms which did not qualify in the initial round that offer front end services by tying up with either NSDL or any of the qualified service provider at the back end.
ET had reported earlier this month that GSTN plans to enable companies that don’t qualify the criteria to offer services too, however, they will not get direct access to the GSTN. Instead, their services will be routed through NSDL, the National Securities Depository and other qualified service providers. Other approved service providers have been mandated to provide their back-end for any startup that wishes to provide GST services.
In a statement, SAP India said on Thursday that it will be an Application Service Provider (ASP) for the upcoming Goods and Service Tax (GST) implementation in the country. “GST is expected to play a significant role in opening up the industry to smaller businesses and offer them equal opportunities to compete and excel using a ‘one-nation, one-tax’ approach. Technology will drive this shift as it is expected to influence all the core processes of businesses across sectors,” it said.
The official said that once the first round of GST Suvidha Providers have been finalised, it will start the next round to bring more companies on board in order to avoid “monopoly or cartelization.”
GSTN, a not-for-profit entity, which is building the IT backbone for the revolutionary tax reform launched its portal on November 8. So far around 1.5 lakh registrations have taken place with almost 1 lakh coming from Gujarat – comprising almost one-fourth of the total tax payer base of the state. So far only two big states of Maharashtra and Gujarat were onboarded with the rest being all union territories. The agency plans to open its system for other bigger states of West Bengal, Bihar, Orissa etc from next week which is further expected to increase the number of registrations.
The Economic Times, 24th November 2016
