Are you GST ready, in the true sense?

This is the tax trigger, which will lead business to a level of transformation like never before. For all major industries ranging from consumer goods to pharmaceutical, automotive, manufacturing and logistics, GST presents an opportunity to make taxes work for the company. While this opportunity called 'Input Tax Credit' is known to many, only a few understand the full potential and reap benefits from it.

Of all the conditions laid down by the government for entitlement of Input Tax Credit under GST, the two most critical and essential of them is the time limit within which businesses need to file claims and the digitized version of how claims can be filed!

• Did you know that all declarations have to be submitted electronically?
• Did you know that there are a certain set of rules for an Invoice to be considered GST compliant?
• Did you know that the entire transaction of tax on purshase is recorded in an ‘Electronic Credit Ledger’ through which refunds are initiated? 
• Did you know that all declarations have only a small window in which buyer and supplier should have uploaded details of tax invoice to avail Input Tax Credit?

Such emphasis on digitizing the entire tax system tells us that the need of hour is Automation, Visibility & Cloud!

Now imagine a connected invoice solution that not only captures invoice and its tax components but also automates reconciliation, approval and payment processes. A solution that offers real-time visibility in to every spend thereby ensuring compliance is not compromised and fraud is flagged as soon as it occurs. Concur understands the unique advantages such a solution can offer businesses across industries and verticals. For the same reasons, we at Concur incorporated elements of the GST policy in our solution such that companies are able to initiate refund process in the stipulated timeframe and make their taxes work for them thereby optimizing their working capital and extending cash flow cycle......Read More

To understand the process better, Contact Us.  

About Concur: Concur takes companies of all sizes and stages beyond automation to a completely connected spend management solution encompassing travel, expense, invoice, compliance and risk. Our global expertise, industry-leading innovation and dynamic ecosystem of diverse partners and applications unlock powerful insights that help businesses reduce complexity and see spending clearly, so they can manage it proactively.

Over 35,000 global organizations including 350 of the Fortune 500 companies are our customers. We are today the world’s second largest cloud company. Some of the largest Employee Advocacy companies like Salesforce, Google, Amazon, Yahoo are our customers. Other customers in India include iGATE, Genpact, Cognizant, Capgemini, Flipkart, Zomato and more.