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In GST system all Tax payers have to provide details of all invoices along with all line items in a particular format for various returns. This mandate will require some sort of automation at all Tax payers end. Already automated systems have to be tweaked to comply with this mandate. So it is a big opportunity for Suvidha Kendra Franchisees. In GST regime buyer’s various returns will be auto populated based on Seller filling. This will bring in additional complexity to match seller uploaded invoice and accept/reject/modify these invoices. GST system will not allow duplicate invoice upload.
Most of the tax payers have to now file three returns in a month (amendments are not included). So automation will be the need of the hour for tax payers. There will be events like auto reversals etc so Tax payers have to keep a tab on different scenarios, which will be difficult without automation. Synchronization between Tax payer system and GST system will be a challenge. Automation using APIs will be required to do that.
The GST tax payers will need help of a GSP/Suvidha Kendra , who can provide them a facility to upload their data (in form of CSV or a Text file) and that GSP will prepare their return, provide facility for digital signing and file return with GST. The taxpayer can also use GSP provided offline tool to convert CSV format data (invoice or GSTR-1 etc.) to GST compliant format, and log on GST portal to file the same. He will download GSTR-2 and convert that into csv format to be read by his Tax Accounting S/W to do comparison etc.