IDBI Federal Life Insurance has partnered with SunTec which is going to help facilitate in computing and invoicing of debit tax and credit tax that will be GST compliant.

IDBI Federal Life Insurance Chief Financial Officer Kedar Patki said in a release that “We are happy to partner with SunTec and look forward to becoming GST compliant. Given the diverse business portfolios, it becomes crucial for us to ensure that all taxation-related data is computed and analysed with accuracy for smooth business operations and keep issues of double taxation in check.”

It further said that under the agreement, for the debit tax mandate SunTec will be helping in analysing data from various sources for computation and invoicing purposes.

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