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Tuesday 22 September 2015

IT major Infosys has bagged a Rs 1,320-crore contract to build GST Network system : 22 Sept 2015


IT major Infosys has bagged a Rs 1,320-crore contract to build GST Network system, which will be used for the roll out of proposed Goods and Services Tax (GST) in the country. "The contract for GST Network has been awarded to Infosys. It will be a five-year contract worth Rs 1,320 crore beginning October 1," sources said. Four other IT companies - TCS, Wipro, Tech Mahindra and Microsoft - had bid for building the network across the country, sources added. The government had floated the Request for Proposal (RFP) for setting up GSTN on April 21. GSTN is a company formed to connect databases of states with the Centre and provide information technology (IT) infrastructure for seamless implementation of GST. The government plans to implement the single rate GST from April 1, 2016, but it might be delayed as the constitution amendment bill for its implementation is yet to be approved by the Rajya Sabha where the ruling party does not enjoy majority on its own. Earlier, GST Network Chairman Navin Kumar had said that registration on GSTN would start by January 31, to prepare for a smooth roll out by April 2016. GSTN would help in PAN-based (Permanent Account Number-based) registration of traders, besides filing of tax returns and payment system. The Centre and the states have also agreed to equally share the costs incurred by GSTN. A sub-committee would decide on the sharing of the costs between the states.


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