TrustWeaver announces signing and archiving services for Goods and Services Tax (GST) in India
Stockholm, 3rd July 2017
Following the recent implementation of the Goods and Services Tax (GST) in India on 1st of July, TrustWeaver, a leading vendor of cloud-based trust and compliance services for electronic invoicing and other legally critical documents, has today announced the launch of its services in India for this brand new tax regime. GST has replaced a majority of indirect taxes in India, including CENVAT and Service Tax that were previously supported by TrustWeaver. The introduction of GST is expected to have a major impact on the Indian economy and public administration.
TrustWeaver has ensured a smooth transition from the support for previous taxes to GST, with the solution for Indian GST supporting both signing and archiving of all Indian GST e-invoices. Under GST, TrustWeaver creates and validates compliant Indian digital signatures on demand so that the Indian tax administration can easily verify that invoices are real and unchanged when they audit a taxpayer. The service is designed for automating very high transaction volumes. TrustWeaver’s archiving service meets the requirements for storing these invoices for the mandatory storage period and provides remote access for the taxpayers as well as the Indian tax administration. Both the signing and archiving services for Indian GST e-invoicing are accessible through the same simple solution that already enables compliant e-invoicing and e-archiving for 57 countries and counting. The service is instantly available to the more than 60 leading business transaction automation platforms that already connect to TrustWeaver to guarantee invoice compliance for millions of enterprises globally.
Anna Nordén, TrustWeaver’s General Counsel, said: “I am proud of our legal and technical compliance experts who have been monitoring and analysing the requirements and impacts of Indian GST legislation. They made our support for the brand new tax regime during a relatively short period of time possible. India has always been a country where many of our customers are eager to expand their business and services, and I believe our support for Indian GST and the performance of the services will meet their expectations.”
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TrustWeaver (www.trustweaver.com) provides a comprehensive Cloud-based compliance service for electronic invoicing and other legally critical documents for more than 50 countries. From a single technical interface and through our unique Compliance MapTM concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation. TrustWeaver’s unique blend of legal and technical components allows modern organizations to execute their ERP, workflow, archiving and B2B consolidation strategies with guaranteed respect for the multiple national and sectoral laws governing such transactions as well as their long-term retention and auditability. In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.