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Excellon Software collobrates with Microsoft for Exact GSP solution

Excellon Software collobrates with Microsoft for  Exact GSP solution

Mumbai, Jul 03(UNI)Excellon Software announced its Exact GSP solution in collaboration with Microsoft that will help ensure compliance for enterprise businesses to the Goods and Services Tax (GST). The Exact GSP Solution is a government mandated GST Suvidha provider that ensures smooth and easy transition to the new GST tax. The Exact GSP solution is a cloud-based solution, hosted on Microsoft Azure and offers a one-stop GST automation and compliance platform with a comprehensive set of support services. The Exact GSP solution creates an interface with the company’s existing OEM ERP and helps streamline processes such as registration, tax payment, returns filing and other information exchange with the core GST system, company release said. The major benefits for any company on EXACT are minimum time and effort for tax filing, easy uploading of invoice data, matching of its purchase data and most importantly getting a single stop shop for all GST related services. Running on Microsoft Azure, the Exact GSP solution will give customers the flexibility to access the GSP solution anytime, anywhere. The solution can be configured as per the customers’ business process and utility. Mr. Vinod Tambi, Co-founder and COO, Excellon Software, said,'GST is an indirect tax for the whole nation, which will make India one unified common market. As a GST Suvidha Provider (GSP) Excellon’s EXACT will provide innovative methods to tax payers in interacting with the GST Systems for an end-to-end compliance. 'The complexity of GST required a comprehensive yet simple solution and that is what Excellon has done. We are actively partnering with channel partners such as System Integrators, Software Services Companies, Trade & Tax consulting firms, and Return Preparers to service large enterprises. Multiple options are available for exchange of data with our tax application like manual feeding of data, file uploads, integration with ERP etc.' The Exact GSP solution has a user-friendly interface which helps ensure full GST compliance, making the user experience seamless. It also brings in automation to the critical phases of the GST process resulting in increased precision, improved productivity, reduced risks and lower cost of tax management. Mr Vinod Tambi, further commented "With GST roll out, it is the biggest tax reform the country has ever seen. As this roll out was set to impact the central and state governments, consumers, small and big enterprises and service providers across sectors,there has been a lot of speculation about the implementation. However, in a complex & democratic country like India, an enormous task of this magnitude and reach has been, so far, executed with amazing nimbleness. At Excellon, the tests have been successful so far and our software, ‘Exact’, is ready to handle millions of transaction as we have the experience of handling very large transactions already. The Government has allowed businesses a relaxation of time for the first two months (July-August) for filing their returns is a welcome step. Taxpayers would only need to submit a simple declaration initially, and would have time to furnish the exact "invoice-by-invoice data" in the month of September. With the extension to file returns till September, there should be enough time for those who are still readying their systems for seamless transactions to flow through their system. GST is expected to significantly reduce the cost of transactions as well as tax compliance for a lot of sectors which in turn would bring a large chunk of the transactions on a digital framework and this will lead to ease of doing business in the long run. Implementation hurdles aside, the various sectors are expected to improve efficiency and increase their contribution to GDP going forward", he added. UNI JS SM1620