KPIT Technologies (BSE: 532400; NSE: KPIT), a global technology company specializing in IT consulting and product engineering, today announced that it has partnered with SAP SE to implement a rapid deployment GST (Goods & Services Tax) solution, GST Starter Pack for the manufacturing industry in India. The solution provides the customers with SAP S/4HANA digital core, that enables them to unlock business value starting from GST compliance, to realizing the full potential of benefits accruing from digital transformation in the post-GST era.
The GST Starter Pack is a pre-packaged solution with fixed timeline, scope and total cost of ownership (TCO) that assists in enabling companies to be prepared for the shift to the new tax structure, which comes into effect from 1st July 2017. GST will require multiple changes in the business operations. Companies will need to scale up the technology infrastructure for ensuring high level of vendor tax compliances, system to maintain adequate level of vendor database, review of the compliances at supplier’s end and monitor the periodicity of the tax payments and filings.
SAP S/4HANA aids businesses in smooth transition to high level compliance oriented GST environment and is capable of administration of complex tax configuration and high volumes of vendor compliance level management. KPIT as the implementation partner accelerates the journey through HANA Project Tools and Accelerators that make the implementation process faster and better.
“With a strong SAP product expertise and profound domain knowledge, we believe that we are well positioned to support customers in the manufacturing industry through a one-stop solution that covers the intricate aspects of GST pre-implementation and post-implementation phases”, said Sahil Dhawan, Associate Vice President, SAP SBU at KPIT.
“With close to 10 weeks left for GST to be implemented, companies in India are looking for solutions that can help them adapt to the new tax regime, faster,” said Neeraj Athalye, Head, S/4HANA & GST Adoption Drive, SAP India. “SAP has a well-defined technology road-map to simplify GST roll-out. Combining KPIT’s industry specialization and customer focus, together we will enable the manufacturing sector to accelerate its GST readiness.” – he added.
KPIT provides end-to-end consulting, solution implementation, compliance review and support to customers in their journey to GST transition, through its Centre of Excellence (CoE) for GST which also comprises financial experts from its tax advisory firm.*Automotive World is not responsible for the content of this news release.