Enterprise software solutions giant SAP feels the upcoming
Goods and Services Tax (GST) regime can act as a huge disruption to prop up
India's $2.5trillion economy for taking a big leap to become an over
$10trillion entity in 12 years. The technology giant believes that the
country's 50 million-plus small and medium enterprises will act as a big growth
driver in this new taxation system.
"GST will play a big role to push our economy to a new
high. It will open a huge business opportunities. The growth of SAP lies in the
growth of the SME sector in the country. Of SAP's 7,500 clients in India, over
80% belong to SME segment," said SAP head (marketing-Indian sub-continent)
Krishnan Chatterjee here on Wednesday. Chatterjee was in Kolkata to unveil 'GST
in a box', an all-inclusive solution portfolio designed to help organizations
of all sizes in Kolkata to become tax-compliant and tax-efficient in the GST
era.
"SMEs have always suffered for lack of credit. Like
large organisations, they, too, have to go for technology adopition. With 'GST in a box', we will provide an integrated and cost-effective solution to the
SMEs starting from Rs 5 lakh," he added. With the GST regime coming in place
from July one this year, SAP will market 9-10 GST -related products in India.
Since capital is a constraint for the SME sector, SAP had made deployability of
the solution from cloud technology to keep the costs affordable. According to
him, as many as 51 million SMEs will be taking the digital route with the
implementation of GST .
Globally, SAP's 30% revenue comes from selling ERP
solutions. In India, the technology solutions provider has 10,000 employees and
two labs in Bengaluru and Gurgaon. Chatterjee said that new GST software for
the SMEs had been developed in India at its development centre in the country.
SAP Solutions for GST
We at SAVIC, SAP partner, are working closely with leading
organizations in India for implementation of GST. SAVIC consultants and subject
matter experts are advising, implementing and supporting organizations in their
GST journey.
SAVIC assists organizations in understanding the impact of
GST on enterprise business processes along with changes that need to be
incorporated in the SAP landscape.. Our team of expert consultants will
implement, train and ensure smooth on boarding to new GST regime. Subsequent to
go live, our teams will be available for handholding and supporting as needed. Businesses
need to adopt a proactive approach in understanding the potential impact of GST
on their SAP ERP before the GST Bill becomes a law.
SAVIC, “The Perfect
Partner” you can rely on, So we proudly say that, We SAVIC are not only
your Vendors, but SAVIC are Partner for your Success
Contact us Today info@savictech.com and Get GST Ready with
SAVIC Technologies
Mohammad Shakir is a
Vice President and Ujwal Landge Tax Consultant
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