A simpler GST can become a registry of all invoices

ISPIRT’s Sharad Sharma says, A simpler GST can become a registry of all invoices

Digital inclusion is leading to financial inclusion, says Sharad Sharma at Emtech India 2018 while referring to Aadhaar transactions reaching 70 million in India

New Delhi: If GST is simplified in the upcoming GST Council meeting, then it will become a registry of all invoices, a technology expert said.

“GST will be good for all B2B players. Another platform called the DBPS will create the same digital trail for businesses that service customers,” ISPIRT co-founder Sharad Sharma said at the technology conference, EmTech India 2018, in Gurgaon on Thursday.

Indian Software Product Industry Round Table(ISPIRT), which is led by entrepreneurs like Sharma, Pallava Nadani, and Manav Garg, who helps in the scale of the business of software products.

He said, “In these new areas, the creation of new technologies for India allows the country to become data rich before we become economically rich,”.

“Digital inclusion is leading to financial inclusion and the rest of it,” said Sharma while referring to the volume of base transactions reaching 70 lakhs in India.

India is also preparing a new consensus framework that will be declared as a new law later this year, Sharma added.

“The technology for this new law is already available in India, RBI will declare it as an account aggregator policy,” Sharma said.

This law will not only affect the financial sector but also on health care. Health kernel has said that the health stack will change the game in the next 10 years and possibly make us the first country to try to be healthy before wealthy,” said Sharma.

These underlying social platforms and the consent flow of data will change in many areas of the country, he said.

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