Logo Infosoft helps organisations, especially SMEs, to improve their core operations through innovative use of technology. In India, Logo has established itself as a technology leader with products offering GST Compliant Business Solutions to MSMEs, SMEs and the Trader community. The company offers multiple business applications and GST/TAX solutions and is a market leader in the ERP space and leading player in the e-Invoice solutions in South Eastern Europe.
Manish Joshi from NewsBarons connects with Mallikarjuna Gupta, Chief Taxologist at Logo Infosoft who informs ‘We are one of the very few companies with the proven ability to handle more than 130 million invoices annually’.
NB: How do you see GST 2.0 changing the course of business in India in 2020?
Mallikarjuna: GST has given an equal opportunity to all the taxpayers as it is One Nation One Tax, and with the new compliances being rolled out like e-invoice and new return formats, it is going to make some structural changes to the existing business process.
e-invoice is mandatory for all the taxpayers who have a turnover of above Rs 100 crore and for this, the NIC has provided access to the API’s to all such taxpayers and it can also be accessed through GSP’s also. This will lead to more digitalization of the process and to lesser tax evasion. The primary objective of rollout of these two compliances are for curbing the tax evasion from some errant taxpayers and also bring the business who are not in the tax ecosystem.
NB: How do you see technology driving GST implementation?
Mallikarjuna: Technology has played a key role in the rollout of GST from the Government and from the taxpayer perspective. Unlike the olden tax regimes, where the taxpayers have to file the return manually and needed to visit the offices for obtaining the registration, now the process has moved completely online. Even to issue of notices and reply to notices has been made online, thereby brining transparency in the whole ecosystem.
From a business perspective, the process has become simple like replacing state level way bills and from with a single document called e-waybill and also the transit time from one state to another state got reduced as physical check posts have been abolished. This has really helped the transportation sector. The business have revamped their process to make it line with the GST and also embraced technology to simplify their operations and improvise the cost. With e-invoice and new returns, it will further ease the operations and also improve the tax collections.
NB: Why is e-invoicing important? How will it help?
Mallikarjuna: e-Invoicing is real time. It provides the regulator a real time visibility into all commercial activities in the market. In an ideal scenario wherein an e-Invoice would capture all line item level details of an invoice and all critical elements of the invoice which determines the tax applicable like HSN Codes, Material or Service descriptions, quantity and unit of measure, etc.
NB: What is Logo’s vision for software business? How are you establishing market share with your offerings?
Mallikarjuna: Logo would like to be the market leader in the MSME segment as we provide the business applications with tax compliance at a very fugal pricing. We are established as a market player purely based on the functionality and tax compliance enablement.
NB: How are you driving the adoption of GST laws in business?
Mallikarjuna: Though GST was rolled out about two and half years back, the real impact could not be see much as there was no enforcement from the Government side and this has resulted in laxed approach by the taxpayers in adoption of technology and being tax compliant.
Logo is offering a wide range of products & solutions (integrated & Stand alone) which can be easily absorbed by users. All the products and solutions are GST Compliant and are hosted on AWS, India on a secured environment. SME’s can access data any given point of time for decision making and monitoring even when they are not in office.
We run workshops and knowledge sessions at regional and urban grounds to explain GST related questions, help and guide business owners to adopt to digital systems like Vyapari regularly. We also make the graduates readily employable by running a certification course on GST and usage of our products. Training is provided by experienced and eminent personnel through collaboration with colleges across India.
NB: Tell us about your products?
Mallikarjuna: We have 3 specific products:
Vyapari: Logo Vyapari is a GSTN endorsed and validated Mobile App & Accounting Application that comes with 100% compliance on GST in India. ALL inward and outward processes including purchase invoices, sales invoices, material dispatches and all financial transaction are performed under strict compliance to the GST. The System allows the generation of the statutory tax filing reports as prescribed by GSTN.
Jugnu: Jugnu, the free GST Ready ERP software from Logo, is a new generation business management solution catering to the requirements of corporations looking for scalable and open solutions. It helps in improving the efficiency of business processes in each step of the value chain. It can be deployed on any operating system & data base independent with multi-currency functionality.
Vira: Logo VIRA, DNMS software is based on the world’s largest FMCG companies’ best online return filing practices which also have the largest Sales & Distribution networks. It helps the OEM’s to automate the transaction cycle from distributor level and there by leveraging their inventory and operations.
NB: How are you reaching new markets in India?
Mallikarjuna: As a part of market reach out program we have tied up and got our Vyapari validated and endorsed by GSTN, This gives a lot of credibility to the product. We use all the existing marketing strategies and keep tweaking them from time to time.