What is GSP (GST Suvidha Provider)? What are their roles and benefits for taxpayers?

GST Suvidha Providers or GSP are third party service providers whose network is being developed for taxpayers to make full compliance of GST.

GST System will provide a GST portal for taxpayers to access the GST System and do all the GST compliance activities. A wide variety of tax payers (SME, Large Enterprise, Micro Enterprise etc.) which may require different kind of facilities like:

·         Converting their purchase/sales register data in GST compliant format

·         Integration of their Accounting Packages/ERP with GST System

·         Various kind of dashboards to view Matched/Mismatched ITC claims

·         Tax liability

·         Filing status etc

As invoice level filing is required,  large organizations may require an automated way to interact with GST system as it may be practically impossible for them to upload large number of invoices through a web portal.

As Tax payer convenience will be the key to success of GST regime, an  eco-system will be created to provide Tax payer options of using third party applications, which can provide different kind of interfaces on desktop/mobile for them to be GST compliant. This eco-system of third party service providers, who have access to GST System and capability to develop such applications have been given a generic name, GST Suvidha Providers or GSP

ROLE of GSP

GSP will be developing applications having features like

·         Return filing,

·         Reconciliation of purchase register data with auto populated data

·         Dashboards for taxpayers for quick monitoring of GST compliance activities.

·         Role based access to divide various GST related activities  different set of users inside a company

·         Uploading invoice

·         Filing returns

·         Applications for tax professional to manage their client’s GST compliance activities,

·         Integration of existing accounting packages/ERP with GST system, etc

BENEFITS OF GSP to TAXPAYERS ?

Currently, all required functions under GST can be performed by a taxpayer at the GST portal. GSP is an additional channel being made available for performing some of the functions and use of their services is optional. Some of the specific solution(s) which could be offered by the GSPs to meet specific requirements of Taxpayers for GST compliance are given below:

1.       Conversion of their current invoice format generated by their existing accounting software, which could be in csv, pdf, excel, word format, into GST compliant format.

2.       Reconciliation of auto populated data from GST portal with their purchase register data, where purchase register data can be on excel, csv or in any proprietary database and uploaded data from GST format could be in json/csv.

3.       Organization having various branches will need a way to upload branch wise invoices, as GST System will only provide one user-id/password for GST system access. An application having role based access and different view for different branches will be needed.

4.       A company registered in multiple States may require unified view of all branches in one screen,

5.       GST professionals will need some specific applications to manage and undertake GST compliance activities for their client Tax payers from one dashboard, etc.

Above are just a few illustrations. There will be many more requirements of different sets of Tax payers. These requirements of taxpayers can be met by GSPs.

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