Praxis has developed a simple and well-structured methodology for helping such companies migrate from current tax regime to GST. It is a series of activities that need to be performed jointly by the customer and Praxis. It includes activities including but not limited to like master data updates, refining the chart of accounts, tax code set-ups, layouts followed by rigorous testing and so on. Praxis is hand holding a large customer base in making this migration smoothly.
Thanks to GST, the Indian market is on the verge of a major transformation in the way business in conducted. Barring the initial discomfort and teething issues, everybody is set to be benefited by it. Businesses can now plan for expansion in their serviceable market leveraging the level playing field being provided via GST.
Simultaneously though, companies need to review their business operations in line with the new tax regime and take steps so that they do not lose a grand opportunity to expand. Having a strong ERP solution that delivers on the core business needs and also makes your movement to GST regime smooth is the need of the hour. SAP Business One is a world class ERP platform that can help SMEs transform their own businesses and get ready to play big in the GST era. Early adopters of SAP Business One will get a significant head start in this journey and will be set to conquer & expand their own market with pace, agility and reliability.