IT set-up for GST to be completed by March 31, 2017

Infosys bags Rs 1,320-crore five-year IT framework deal

IT set-up for GST to be completed by March 31, 2017

The rollout process of the IT set-up for the Goods and Services Tax (GST) will be completed by March 31, 2017, said Murali Krishna BV, Joint Commissioner of Commercial Taxes, Government of Karnataka.

The process has been undertaken by the Goods and Services Tax Network (GSTN), which is a public-private partnership. The central government owns 24.5 per cent in the entity, 24.5 per cent ownership is held by all other states, while 51 per cent is owned by private players. The infrastructure is scheduled to be rolled out in three phases. In the first phase, which is expected to be completed by March 31, 2016, GST External Services Components would be put in place.

In the second phase, which is expected to be completed by July 31, 2016, GST Internal Services Components would be put in place, while in the third phase, GST Analytics Components will be put in place, and is expected to be completed by March 31, 2017. “We are expecting an average of 400 invoices being uploaded by each of our 65 lakh taxpayers every month,” said Murali. He added that Infosys has been awarded a contract to set up and maintain IT framework for GST for five years. “The contract was awarded on September 24 this year, and is worth Rs 1,320 crore,” Murali told Deccan Herald.

He was speaking at a seminar, organised by the Institute of Cost Accountants of India, Bengaluru Chapter on ‘Goods and Services Tax’. Ritvik Pandey, IAS, Commissioner of Commercial Taxes, Government of Karnataka, inaugurated the seminar.
DH News Service

The other speakers included NC Dinesh, Senior VP of FKCCI, and DP Nagendra Kumar, IRS, Addl. Director General (Central Excise and Service Tax), Government of India, among others. Nagendra deliberated on the ‘Latest Developments in GST’.

Game changer

Infosys has been awarded a contract to set up and maintain IT framework for GST for five years

The contract was awarded on Sept 24 this year, and is worth Rs 1,320 crore

 The state is expecting an average of 400 invoices being uploaded by each of its 65 lakh taxpayers every month



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