Gstbazaar is an approved ASP of GSP by Goods and Service Tax Network (GSTN) in India. Only GSTN approved GSPs are authorized to connect to GSTN using the published APIs.Gstbazaar has its own development team to take care of the needs of the taxpayers
Application Service Provider is a team within GSP IT ecosystem which will focus on taking taxpayers’ raw data on sales and purchases and converting it into the GST returns. These GST returns, or GSTRs, will then be filed on behalf of the filer with GSTN via the GSP.
Gstbazaar Application Service Provider (ASP) will deliver GST compliance related services to taxpayers by ensuring swift processing of transaction data, efficient reconciliation and appropriate and timely credits.
Data Protection & Privacy
An Asp’s ability to strictly maintain data privacy under properly drafted non-disclosure agreements, data security strengths, and the ASP’s arrangements for the protection of shared data.
Value Added- Services
The extent to which an ASP provides other value-added services, such as trend analysis, tax alerts, and legal support.
Data Retrieval & Audit Trail
An ASP facility for data retrieval is very important, especially given the statutory requirements for record preservation For a taxpayer to justify claims before tax authorities, an audit trail must be available.
The essential goal of ASP-GSP is to guarantee Compliance and Governance under the GST administration, which will require profound space learning and innovation enablement.
ASPs are characterized as Application Service Providers. ASP usefulness will be to plan month to month and yearly GST returns on the basis of taxpayer data, enable reconciliation of returns for appropriate and timely credits. It will require, domain and sector knowledge to interpret nuances in GST law and rules for filing returns for taxpayers through approved GSPs
The GST Suvidha Providers or GSPs are authorized and affirmed by the Goods and Services Tax Network (GSTN) of the Government to interface with the GSTN utilizing the distributed APIs GSP's will encourage citizens in uploading safely GST returns in a prescribed format. It can customize products that address the compliance needs of the various segments of users.
Under the GST law, a normal taxpayer will be required to furnish three returns monthly and one annual return. Similarly, there are separate returns for a taxpayer registered under the composition scheme and a taxpayer registered as an Input Service Distributor.