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.
- 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.