Reliance & SAP launch "SARAL GST" Solution - All You Need to Know

RELIANCE & SAP Launch "SARAL GST" Solution for Taxpayers

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Introduction: 

• Reliance Corporate IT Park (RCITPL) a conducive of Reliance Industries (RIL) published a new scheme “SARAL GST”. 
• It has signed a Memorandum of Understanding (MoU) with SAP SE to launch 'SARAL GST' solution for taxpayers in the GST governance. 
• The new offering will comply with Government’s new GST system and will enable taxpayers to access the new tax regime. 
• The offering will enable taxpayers to be GST compliant and smoothly access the Government's GST System, once GST is rolled out from July 1, 2017. SARAL GST will leverage the expertise of RCITPL as GST Suvidha Provider (GSP) and SAP as Application Service Provider (ASP). 
• SARAL GST set up a value premise for taxpayers focused around simplified operations, enhanced with scalability, unified support and high quality of service and security. 
• SAP, in its figure as ASP that will enable taxpayers to effectively create, manage and file GST Returns in a simple, safe and seamless environment. 
• This collaboration of the two industry leaders thus offers the full potential of GST and boosts the success of Digital India initiative. 
• SARAL GST will leverage the experience of RCITPL as GST Suvidha Provider (GSP) and SAP as Application Service Provider (ASP).
• “GST is not just a tax reform but is an unprecedented opportunity for companies to improve functional skill and realize increased profitability,” said Neeraj Athalye, Head, S/4HANA & GST Adoption Drive, SAP India. 
• “Besides helping businesses get compliant with the new law seamlessly, SARAL GST will also enable them to benefit from the GST vision.” 
• RCITPL will engage ASPs to the government’s GST system through Jio MPLS network. 
• SAP, in its character as ASP, will enable taxpayers to practically create, manage and file GST Returns in a simple, safe and seamless environment, said the statement adding that this collaboration of the two industry leaders thus offers the full potential of GST and boosts the success of Digital India initiative. 
• It is illustrate the spread of the two-decade partnership between Reliance and SAP to help tax payers transform into a secure digital enterprise with end-to-end support." 
• Shares of the company declined Rs.9.3, or 0.68%, to trade at Rs 1,361.60. The total volume of shares traded was 17,674 at the BSE.

Reliance Corporate IT Park Limited: 

• Reliance Corporate IT Park Limited (“RCITPL”) is a subsidiary of Reliance Industries Limited and caters to the in-house IT needs of the Group. 
• RCITPL’s IT and technological capabilities have been further enhanced by Jio with “Jio Digital Life”. 
• In light of its own capabilities and further leveraged by Jio’s infrastructure and capabilities, RCITPL has been licensed as‘ GST Suvidha Provider (GSP)’ by the Government to serve the Tax Payers for their GST Needs. 

SAP: 

• Market leader application software (NYSE:SAP), SAP helps companies of all sizes and industries run better. 
• Everywhere SAP empowers people and organizations to work together efficiently and use business insight more effectively to stay ahead of the competition. 
• SAP applications and services enable more than 3lakh business and accommodate continuously, public sector customers to operate profitably and grow sustainably.