State run BSNL today launched ASP and GSP services for its customers in tie-up with leading taxation publication company Taxmann to assist the SMEs and retail customers in GST related filings which the PSU is hopeful of fetching it about Rs 800 crore revenue annually.
ASPs (Application Service Providers) and GSPs (GST Suvidha Providers) are the important constituents of the GST based tax system and will provide the much needed support to the tax payers on the IT ecosystem. ASPs will convert the raw sales and purchase data into GST returns and GSPs will file the returns on behalf of the tax payer.
This is the second company the PSU has partnered for offering GST returns compliance services. Last week, it tied up with Masters India to launch an app to assist small traders and businessmen in transitioning to GST and is likely to partner with another company soon for GST services.
“This is a new vertical for us..we are looking at its monetisation. This service has a potential to generate a revenue of Rs 2000 crore per annum and as per our revenue-share in the business, there is a scope for Rs 700- 800 crore revenue for BSNL in it annually”, BSNL Chairman and MD Anupam Shrivastava said.
The revenue sharing is on 60:40 basis (Taxmann: BSNL), he said
The service will be free of cost this month and from October onwards it will be charged on yearly basis.
BSNL is targeting small towns and cities to pick up this service where IT infrastructure and GST level understandings are poor.
“We are targetting tier-II and III cities where people normally don’t have IT infrastructure and have no understanding of the GST. We will market this service mainly to retail customers and SMEs and grocers to capture high volume”, he said.
Shrivastava sees the benefits of the partnership as customers hooking up to its network to avail the service without the help of any tax professional like CAs.
The entrepreneur or the customer is not required to depend on any CA or other tax expert for filing returns if availing the GSP services of BSNL, a statement from the PSU said adding the service is targeted at remotely located small traders, shopkeepers and SMEs across India.
BSNL customers can avail the service by logging on to the BSNL’s official website -- www.bsnl.co.in and clicking on GSP SERVICE under GST tab on right side of the web page. On this page a list of four GSPs will be displayed. The customer has to choose and click on any one of the GSP as per his choice.