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GST Suvidha Provider (GSP) was introduced and established by the Goods and Service Tax Network (GSTN) to assist the taxpayer to comply with the provisions of GST. It is regarded as an enabler or authorised intermediary for businesses to access the GST portal services. Scroll down to check more information regarding GSP.
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With the help of a GSP, a GST taxpayer can comply with all the procedural requirements of the GST Law via its web platform. GSP serves as an innovative method or means of an effective interactive platform for taxpayers to access the GST portal services. Whether it is GST registration or invoicing or completion of GST returns filing, GSP assists in all of them.
Process such as filing GST returns or synchronizing invoice details under GST is a very time-consuming journey for the taxpayer as the taxpayer has to fill numerous returns every year. This is where the GSP’s significance can be well understood as it caters to the need of a taxpayer by simplifying the process and saves time that is needed for the GST compliance, whether it is GST Return filing or synchronization of invoices.
GSP shall provide APIs to carry out procedures such as GST Registration, GST Return filing, tax payment or invoice uploading and will also be in direct contact with the GSTN.
The organisations or entities that are expected to sign up as GSPs are visualised to be as provided:
In order to ensure effective automated compliance under GST, software based applications are being developed to help tax payers to do timely and convenient compliance. Such players are termed “Application Service Provider or ASP”. These third party applications connect with GST system through secure GST System APIs. The service providers who develop these secure channels are called GST Suvidha Provider. GSPs and ASPs will provide much needed assistance to taxpayers in the IT ecosystem for GST.
To summarize things, ASP-GSP shall do the following activities:
It may be noted here that if a taxpayer goes for direct access to G2B portal or chooses the more easy option of using GSP services, a provision is made in the IT ecosystem under GST for the taxpayer to have absolute control, security, and total privacy while interacting with the GST system.
In India, there have been 3 rounds of empanelment/licensing for GST Suvidha Providers by the GSTN until Nov 2019. The 4th round is held for empanelment till April 2021. 34 companies were given GSP licenses during the 1st round of allotment, followed by 42. 10 were approved in the last round.
Read our article:How can you obtain GST Business Loan in India?
Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.
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