The proposition aims to offer tax validation, tax determination and tax compliance services
Mumbai, June 15, 2017 – Thomson Reuters, the world’s leading source of trusted answers for businesses and professionals and NSDL e-Governance (NSDL e-Gov), one of the pioneers of e-governance in the country, have agreed to offer an integrated Goods and Services Tax (GST) proposition for large and mid-sized corporations in India. Based on a Memorandum of Understanding (MoU) signed today, this solution will enable seamless calculation and filing of returns under the new tax regimeONESOURCE™
The integrated proposition for large and mid-sized corporations would address two key areas for corporations under the GST regime, namely (i) efficient and accurate calculation of taxes across multiple platforms and (ii) the associated filings, returns and reconciliation mechanisms. This offering will combine Thomson Reuters global ONESOURCE™ Determination solution (which has been customized for India GST) with NSDL e-Gov’s ASP compliance platform, which will be linked to NSDL e-Gov’s GSP solution.
Pradeep Lankapalli, Managing Director, Thomson Reuters South Asia said, “Trusted technology provider will be critical to ensuring a smooth GST implementation. Thomson Reuters indirect tax platform integrated with the NSDL e-Gov’s solution provides an end to end offering combining the benefits of accurate determination of tax and seamless compliance into the GSTN.”
Thomson Reuters offering will be an added service on NSDL e-Gov’s existing GST Suvidha Provider portal. NSDL e-Gov’s GSP platform is currently being updated as per the guidelines set by the GST. NSDL e-Gov is one amongst the 34 companies shortlisted by the Goods and Services Network (GSTN) for providing the GST interface in the first phase, which starts from December 2016.
Commenting on the collaboration, Mr. Gagan Rai, MD and CEO, NSDL e-Gov, said, “We are excited to partner with Thomson Reuters to launch the integrated GST proposition. As the GST initiative is set to bring opportunities in the Indian market, we aim to be the leading solution provider by offering a comprehensive GST proposition with remarkable performance and value. This proposition will help the tax payers by simplifying the tax return filing process.”
With this combined proposition, both the companies aim to provide an end-to-end solution to large and mid-sized corporations for their GST compliance requirement.
About Thomson Reuters
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.
About NSDL e-Governance
NSDL e-Governance Infrastructure Limited (NSDL e-Gov) was originally setup as a Depository in 1996 and has over the years used its inherent strengths, project management capabilities and technology expertise to deliver state of the art e-Governance solutions, which has helped Governments to identify and clear bottlenecks, promote transparency, reduce service delivery costs and deliver public services efficiently. NSDL e-Gov works closely with various Government agencies for designing, managing and implementing e-Governance Projects. NSDL e-Gov has also established Service Centre networks across the country, which serves as access points for the public and are efficiently used to deliver quality services in a user friendly and transparent manner to the citizens.