To help Indian enterprises prepare of the introduction of a GST environment, SAP SE and Indian industry body ASSOCHAM have created a knowledge sharing resource centre to act as a one-stop portal about adopting or migrating new technology.
Under the new regime, over 51 million SMEs in India will need 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{e95049a639610d7a00ff9ba7886e20d723ffeb43fc0872e185e623805919ba42} of these transactions will be processed through an SAP system,“ said Neeraj Athalye, head of SAP S4HANA, SAP Indian Subcontinent.
The resource centre, called SimpleGST, will provide information on key areas like tax computation, master data management and business process localisation.
“GST has opened up opportunities for businesses in over 160 countries and helped them move beyond the physical constraints to expand exponentially by harnessing digital prowess,” said D. S. Rawat, secretary general, ASSOCHAM. “we are certain that this knowledge sharing portal by SAP will enable and equip Indian businesses with the technology know-how for a seamless transition to a GST environment.”
The resource centre can be accessed at sap.com/india/SimpleGST.
