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Wednesday, 10 May 2017

Oracle launches cloud computing service for India


Technology giant Oracle has launched its cloud computing service for India, which aims to support the government's GST rollout in July and plans to open data centres in the country.

In an effort to simplify the tax regime in India and to ensure higher compliance with tax laws, Oracle's ERP solution aims to provide support for GST Network integration, statutory reporting, payment processing, among others. In the GST regime, companies will have to upgrade their ERP systems.

Important Takeaways from above News for BOB PO Exam-
  • The GST is governed by GST Council and its Chairman is Union Finance Minister of India Arun Jaitley.
  • GST is a destination based tax on consumption of goods and services
  • It is amalgamating a large number of Central and State taxes into a single tax
  • Oracle headquarter is in the United States of America.
Source- The Indian Express


If you have any other takeaways, do share with us in the comment section


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