GSP and ASP are two terms used very often by IT / Software companies engaged in implementation of GST services. Often these terms are neither explained nor well understood.
GSP and ASP are two very different services used for GST Implementation in an organisation. Why GSP is practically mandatory for most small and all medium or large organisations, ASP is optional. Many small or medium size organisations however don’t need to purchase an ASP service.
GSTN or GST Network is a not-for-profit private limited company. The Company’s structure is such that shareholding of Government is 49% and Private / Institutional holding is 51%.
A GSP is an authorised third-party GST service provider appointed by GSTN (Goods and Services Tax Network). The GSP is expected to provide tax payers / tax consultants rich and easy-to-use interfaces for uploading invoices, filing returns etc and facilitate secure interaction with the GSTN Server.