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New GST return forms may force firms to change ERP systems
TIWN
New GST return forms may force firms to change ERP systems
PHOTO : TIWN

New Delhi, Oct 21 (TIWN) The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems.

Tax experts and chartered accountants (CAs) said that the new return systems would require a lot of details such as purchases from unregistered dealers.  "Besides, bill of entry-wise import details and bill of entry-wise purchases from SEZs (special economic zones) would be required. As of now, there is one-way traffic. Presently, suppliers upload these data, but from April 2020, recipients will also have to upload all these data," said Vivek Jalan, Partner, Tax Connect Advisory Services LLP.

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