With the advent of Goods and Services Tax (GST) regulation, India Inc is poised for dawn of a new era. GST, with long-term and wide spread reach, will have impact on businesses of all type and size. GST will incorporate transparency and refresh the systemic productivity by reducing the tax bottlenecks. Businesses ought to think the enormity of the changes brought by GST and be quick in a timely manner with the implementation tools.
Implementation of GST will strengthen the basic business operating model along with presenting new growth opportunities and room for sustainable margins. Organizations prefer to formulate business cases to use the impact of changes, materialize robust plan for overall program management and witness integration opportunities across various aspects of the entity’s value chain.
With GST, tax basis would be modified from origin to destination. This change in tax basis will have direct implications on various business aspects such as supply chain, SAP, profitability, cash flow, sourcing, pricing etc. In essence, GST will require businesses to revisit following areas in the SAP systems:
- Finance & Planning
- Supply Chain
- Procurement & Distribution
Challenges for Organizations in Implementing GST:
- AS-IS assessment and roadmap to GST implementation
- Understanding the Impact on Organizations operations and Business Transactions.
- Compliance in the Tax Structure.
- Compliance Management & Protocols to ensure Statutory requirements are met.
- Impact on pricing, legal contracts, multiple-location deliveries, multi-party transactions
- Maintain control across transactions & accurate reporting to various stakeholders.
- Documentation requirements at each step of business transaction; systems and processes required to help organizations implement GST smoothly
ORANE – SAP Solutions for GST
We at Orane, a premier SAP partner, are working closely with multiple leading organizations in India for implementation of GST. Riding on the back of strong domain expertise in Manufacturing, IT, Chemical, Power, Retail etc, ORANE has emerged as leader in GST implementation across organizations of repute. ORANE consultants and subject experts are assisting the organizations in their GST journey
We bring you the combination of core business consulting with technology implementation skills. Using business consulting skills, we can assist you in understanding the impact of GST on your enterprise, looking at business process areas that may need adjustments and help derive a suitable solution that works for your organization. We will do an assessment of GST w.r.t to your organisation current SAP landscape, implementation consulting, training and support post go-live.
Leverage ORANE for sailing smoothly through GST cycle
It is critical that organizations must quickly re-align their operating models to accomplish the benefits of GST. Technology would play a crucial role in setting-up the required logistics for smoother roll-out of GST enabled infrastructure. SAP provides GST oriented solutions to enterprises which could be implemented by ORANE to make the enterprises GST ready. It is advisable that Organizations adapt to GST ready system proactively to avoid the hindrance in business operations at next stages.
- Putting in place necessary processes and reporting tools as per the requirements of GST
- Sandbox Implementation for continuous testing & user training to ensure team’s readiness for GST
- Facilitating implementation of the best practices across industries and business segments
- Effective Change management to align business ecosystems for seamless transition from the current indirect tax system to GST regime
- Ensuring transition with no or minimal disruption to existing business
- Efficient management of the multiple structures across different states, product segments and verticals
- Aggregation of data for management reporting and statutory procedure fulfilment
- Identification of overlaps between the existing indirect tax system and the GST regime and adequately incorporating insights into the transition plan for timely migration to GST Contact Us Today and Get GST Ready with ORANE Technologies