Reliance Jio Helps Companies Get GST-ready with its GST Kit

Mukesh Ambani led Reliance Industries Limited’s (RIL’s) telecom arm Reliance Jio has decided to help small and medium enterprises (SMEs) to get ready for GST with its starter kit.

What is the GST Suvidha Provider?

The GST starter kit, also known as the GST Suvidha Provider or GSP is available for INR 1,999. It comes with unlimited voice calling, 24 GB data for a year, a JioFi device and software solutions. In select cities, there will also be doorstep SIM activation for the JioFi device. The kit may be also bought on an EMI basis starting from INR 95.03.

The Retailers Association of India (RAI) has already joined hands with Jio to give the JioGST starter pack service to all its traders and merchants.

What software solution does the GST Kit contain?

The following software solutions are provided in the kit. They are meant to ease the processes of filing tax returns for GST and do not require a computer, printer, or any other accounting or billing software.

  • App-based GST solution

This platform is compatible with any type of billing software and may help SMEs file tax returns under GST.

  • Jio billing application

This can generate summary-wise invoices and has tax codes for a number of different products.

  • JioGST knowledge hub

This hub allows owners to use a special GST Chat channel on JioChat. It also lets them connect with tax experts through seminars, e-mails, and a lot more.

Value of the GST kit

While analyzing the differences between the market value offering for a GST software kit and Reliance Jio’s offering for a similar kit, the company made the following observations:

  • At market value, access to a GST filing software for one year would cost over INR 1,999.
  • At Reliance Jio’s price, the user would get complimentary premium access for the same.
  • At market value, the JioFi device would cost INR 1,999 while the data plan with unlimited voice calling and 2 GB monthly data would cost an additional INR 1,887. This would mean a total of INR 3,886. However, Jio offers the JioFi device and data plan for a total of INR 1,999.
  • Reliance Jio also offers complimentary premium access to the Jio Billing Application for one year. This would normally cost INR 4,999 at market value.
  • On totaling the cost of all the features, it is estimated that the software would cost approximately INR 10,884 at market value while Jio is offering the kit for INR 1,999.

Finding tax practitioners

With Mukesh Ambani led Reliance Jio’s JioGST starter kit, companies may get access to a number of empanelled tax practitioners. It lets the company find the tax practitioner nearest to it and authorize the practitioner to file returns on its behalf.

About GST

The Goods and Services Tax (GST) has been implemented by the Government of India from 1st July 2017. This new tax regime is known as the biggest tax reform since Independence. It has replaced the previous taxation system on all goods and services and is using a four-tier tax slab of 5 percent, 12 percent, 18 percent, and 28 percent.

Summary

Reliance Jio is offering companies a GST kit for INR 1,999 to help SMEs be GST-compliant.

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