Skip to main content

Digital Kiosks to Help Govt with GST Rollout


SUPPORT SYSTEM Common Service Centres will help merchants, especially in rural & semi-urban areas, in filing taxes under GST and provide the needed support

The government's massive network of Common Service Centres (CSCs), or digital kiosks, have been identified to facilitate the rollout of Goods and Services Tax (GST), especially in rural and semi-urban areas.

Out of the total 2,52,000 CSCs that are operational, around 1,72,000 are in the rural areas. These centres will help merchants in filing taxes under the new regime and also provide necessary training and support services to people. The proposal is close to getting a final approval from the government.

Dinesh Kumar Tyagi, CEO, CSC e-Governance Services, told ET that the centres are proposed to act as a GST Suvidha Provider.They will also train and support merchants.

“The agency will have its own portal where all the details will be filled up which will be synced with the main portal of the GST,“ he said.It will act as a “mirror portal“ of the GST portal, he added.

The entreprenuers training will be completed by June 15 and the system will be in place before the GST rollout. The services offered by the centres will not be free. Tyagi said the agency is in the process of working out a commission model which will be as competitive as those offered by other service providers.

“GST will act as a major pull factor for the CSCs, enhancing their credibility further,“ he said. The wide CSC network, especially in the rural and semi-urban areas, will give a major boost to the ambitious GST rollout since it requires a lot of ground-level support, he added.

“I don't think many service providers will be active in rural India, rural India will be ours,“ he said.

Around 34 companies, from accounting firms such as EY and Deloitte Touche Tohmatsu, to software companies such as IRIS Business Services and Tally Solutions, have been appointed as GSTN Suvidha Providers (GSP), which means that they can directly connect to the application programming interface (APIs) of the GST Network.

There are also several independent application developers and startups like ClearTax and Moglix as well as multinationals like Intuit vying to be application service providers (ASPs) to the GSPs. The ASP innovations can be part of the GSPs' offerings when they open up their secure APIs.

The Economic Times New Delhi, 09th May 2017

Comments

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm

Credit card spending growth declines on RBI gaze, stress build-up

  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and