eGSTPRO

GST (Goods and Services Tax) introduced in India from 1st July 2017, is the most pragmatic and transformative tax reforms in the history of independent India. GST is a comprehensive single indirect tax. It subsumes most of the other Central and State taxes. GST is levied on the final consumption (destination based taxation) and is expected to increase the tax base while establishing a common market across the country.

While this initiative marks the journey of greater compliance and transparency, it also brings on the challenges of accurate calculations and timely submission. In order to meet the needs of business to comply with the GST requirements, a combination of domain knowledge with ability to handle the specifics related to multiple sectors and technology is required. Minerva Technology Solutions Limited (MTSL) is an approved ASP (Application Service Provider) authorized to work through GSPs (GST Suvidha Providers) to assist businesses in creating, processing and submitting GST related data.

eGSTPROTM is an integrated solution built to deliver end-to-end support in GST compliance and enable businesses expedite processing of transactions, reconcile, ensure accurate credits and timely submission.

Download eBrochure

About Us

eGSTPROTM from Minerva Technology Solutions Limited (MTSL).

MTSL is a software product and services company specializing in financial services industry for over 22 years. Minerva brings strong domain knowledge and technology experience in providing solutions to financial services industry.

Minerva provides value to clients by combining rich domain knowledge, process, innovative product and service delivery, and excellent post-sales support. We seek to work with our clients at the early stage of identifying the need to enable us to provide high quality services and professional output. Our services are focused and aligned to the immediate and long-term needs of the clients.

Our products demonstrate our strong domain knowledge, thinking innovation and creative design and technology application. Our clients receive long-term and reliable product solutions from us along with application software hosting solutions. As a company we aim to build a high level of credibility and trust with our clients by being professional in our dealings and firm in our commitment. We are flexible, responsive and accountable for what we commit.

Download eBrochure

Challenges

While introduction of GST has enabled businesses to have a streamlined operations and seamless input credits and compliance, this has also created new challenges in various aspects of business operations which requires solutions with adequate preparation and efficient technology.
Dependency on other businesses for accuracy

The GST administration and compliance process places a demand of accuracy on every participant to ensure timely credits. Every business is dependent on the previous and next entity in the chain for compliance. In effect, there is a need for the entire ecosystem to work like a well-oiled machinery.

Continuous engagement with Tax agencies as opposed to one-time filing

With the introduction of GST systems in a digital-only mode, the business entities, government and tax agencies are continuously engaged in ensure timely and accurate compliance, reaction to changes in tax slabs and other provision. This places a huge demand for robust back end systems which can align quickly to changes in the ecosystem.

Complete transition from paper (offline) to online

While the earlier tax systems had multiple options of offline /off-online combination, the GST norms clearly have brought in a paradigm shift in the way tax administration is managed. The digital-only mode places technology in the centre of all the GST activities.

Top Management and Tax Team time investment

While the Taxation teams of businesses used to be managing the regular calculation and compliance issues, the GST has necessitated Top Management involvement especially in aligning business objectives in the changed market and taxation scenario.

Multiple forms and compliance requirements

As in any tax system, the key requirement of filling up multiple forms and ensuring correctness of data could push up compliance costs exponentially unless businesses use the best of technology to ensure optimum resource utilisation.

Changes to other internal systems and processes

While superficially it seems that GST is the only change, the dependent internal systems and process also have undergone refinement adding to the demands of the business.

Data Security

With the entire invoicing and taxation data moving to the digital mode, the need to enhance the Data Security has become essential. Businesses need to find newer and more secure ways of storing and sharing data. Data storage and retrieval for the duration as stipulated by law has increased dependence on outside vendors or enhanced infrastructure investments.

Our Solution

The eGSTPROTM solution is a secure solution hosted on the cloud with zero start-up time, with facility for easy creation, submission, storage and retrieval of GST data.

eGSTPROTM is a intelligent GST compliance solution enabling businesses prepare and file accurate and timely GST returns.

eGSTPROTM is also available as Computation Engine with API integration to work with accounting systems and ERP solutions.

eGSTPROTM comes with an extremely easy to understand user interface. The system does not burden the user with difficult terminology, but enables easy navigation through the various computation and filing requirements.

eGSTPROTM is developed and deployed entirely on a cloud infrastructure enabling subscribed businesses monitor status 24/7 and effect mismatch reconciliation.

eGSTPROTM offers SMS and Email Integration providing transaction based updates to participating businesses and customers. Transactions covered include Account update, Return filing deadline, Transactions done on the website etc.

eGSTPROTM works on the GST engine which uses a combination of tax codes and conditional processing of data.

Minerva advantage

Over 22 years of tax and account legacy

Strong Domain expertise

Strong India localization expertise

GST Subject Matter Expertise

Strong Project Management Team

Post implementation compliance review & support

Application Services Provider (ASP) for GST

Readily available connectors to ASP / GST systems

FAQ'S

The earlier tax system had multiple taxes, different and complex compliance procedures, several agencies both state and central involved. Not only did this result in complicated processes (multiple and cascading tax) but also considerably slowed down the way compliance would take into effect and further required businesses to adapt to varying tax markets.

The Goods and Service Tax (GST) introduced in July 2017, in India, aims to remove complications of multiple and cascading taxes, simplify compliance procedures and make inter-state movement of goods seamless.

GST eliminates the need to apply tax on the total value of products at each stage, by taxing the value addition. To achieve this GST provides credit for input tax already paid at each of the previous stages in the supply chain thereby potentially reducing the overall manufacturing cost.

Schedule a Demo

By submitting your contact information you acknowledge that you have read the Privacy Statement and that you consent to our processing the data in accordance with our privacy statement. You can always stop communication from Minerva by writing to us at info@minerva.in

{{ resultMessage }}

email
info@minerva.in
phone
011-65700151, 011-65700152
address

Minerva Technology Solutions Ltd.
US-5 & 6, Third Floor, US Complex,
120, Mathura Road, Opp. Apollo Hospital,
Sarita Vihar, New Delhi – 110076