Some Weakness In Technology Preparedness For GST Network: Vishal Sikka
There are pockets of weakness in the technology preparedness for the GST infrastructure network, but Infosys is ready to face the challenges involved in developing the software, the company’s chief executive officer and managing director Vishal Sikka told reporters after meeting Finance Minister Arun Jaitley on Thursday.
Sikka met Jaitley at the North Block in New Delhi, to make a presentation about the roadmap for the GST Network (GSTN).
“There are many pockets where there is weak preparedness at this moment...but we have time between now and then and the government is extremely keen to address that,” Sikka said after the presentation.
While outlining the challenges of implementing the Goods and Services Tax by April 1, 2017, Sikka said the process is complex involving big businesses, small businesses, states, and taxpayers. Many small cities still do not have the necessary IT backbone, he added.
The GSTN is a private company tasked with creating information technology infrastructure for GST.
The government holds 24.5 percent stake in GSTN while state governments together hold another 24.5 percent. The rest 51 percent is with non-governmental financial institutions like HDFC Bank, ICICI Bank, NSE Strategic Investment Corporation and LIC Housing Finance.