MasterGST-A GST Tax Filing Software- It is a licensed GSP in the nation which provides GSP Solutions and ASP Solutions.
GSTN-Goods and Services Tax Network (GSTN) is a nonprofit non-government company providing shared IT infrastructure and service to central and state governments, including taxpayers and other stakeholders. The front-end services of registration, Returns and payments to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.
The GST System Project is a unique and complex IT initiative. It is unique as it seeks, for the first time to establish a uniform interface for the taxpayer and a common and shared IT infrastructure between the Centre and States.
GSP and its role – GSP provides a secured tunnel which feeds in data from ASP (in other words, ASP’s output becomes the input for GSP), submits it on GSTN and generates acknowledgement. GSPs will act as channels to transfer the information from the GSTN server to the ASPs responsible for disseminating it.
In a nutshell, ASP-GSP will do the following activities:
- Invoice data upload (B2B and large value B2C).
- Upload GSTR-1 (return containing supply data), which will be created based on invoice data and some other data provided by the taxpayer.
- Download data on inward supplies (receipts or purchases) in the form of Draft GSTR-2 from the GST Portal created by the Portal based on GSTR-1 filed by corresponding suppliers.
- Do matching of purchases made and that downloaded from the GST portal. Finalize the same based on his investment (inward supply data) and upload GSTR-2.
- File GSTR-3 created by GST Portal based on GSTR-1 and two and other info and tax paid.
- Meet other applicable compliance.
An important point to note that is whether a taxpayer goes for direct access to the G2B portal or chooses the more comfortable option of using GSP services. A provision is made in the IT ecosystem under GST for the taxpayer to have complete control, security, and privacy while interacting with the GST system.
ASP and its role-
ASPs will focus on taking taxpayers’ raw data on sales and purchases and converting it into GST returns (in case of multiple registrations, it is a considerable task manually). This GST returns, or GSTRs, will then be filed on behalf of the filer with GSTN via the GSP. ASPs will act as a link between the taxpayers and the GSPs. GSP will generate the GSTN client ID and password for ASP from the Portal, which GSTN will provide. It’s a kind of sub-license generation.
A GSP may also offer the services of an ASP to meet a client’s particular data processing requirements and provide customized solutions to a large number of organizations. This provides combined GSP and ASP support. The ASPs will mainly be responsible for providing the taxpayers with an interactive, secure application where they can upload their invoices, reconcile mismatches and file their returns.
ASPs may also provide innovative solutions like web portals, mobile apps and enriched APIs to make the entire GST compliance procedure for the users very easy to adopt. The application developed by ASPs will help taxpayers to interact with the GSTN and create invoices in the supported format. This will require a computer connected to the internet from where the invoices are generated.
API-
An application program interface (API) is code that allows two software programs to communicate with each other. The API defines the correct way for a developer to write a program that requests services from an operating system (OS) or other application. APIs are implemented by function calls composed of verbs and nouns. The required syntax is described in the documentation of the application being called.
APIs are made up of two related elements. The first is a specification that describes how information is exchanged between programs, done in the form of a request for processing and a return of the necessary data. The second is a software interface written to that specification and published for use. The software that wants to access the features and capabilities of the API is said to call it, and the software that creates the API is said to publish it.
The web, software designed to exchange information via the internet and cloud computing have all combined to increase the interest in APIs in general and services in particular. Software that was once custom-developed for a specific purpose is now often written referencing APIs that provide broadly helpful features, reducing development time and cost and mitigating the risk of errors.
Like all software, APIs have to test. The purpose of testing is a validation of the published APIs against the specifications, which users of those APIs will use in formatting their requests. We provide this testing facility for our MasterGST APIs.
To learn more about how MasterGST can help you with GST automation, contact us through our Portal https://mastergst.com/gst/gst-developer-api-portal.html. Hurry Up and get SignUp now.
