Every business nowadays does not matter how big or small, comply with the GST law and it is the simplest GST software which helps to create invoices, track expenses and manage inventory as per the GST guidelines. GST software automates the return generation and provides single login for all the GSTINs and offers extensive support which is reduced to return filing time. File GSTR 1. Reconcile Sales & Purchase. File GSTR 3B as well.
Important features to have in your GST Software
1. Security
2. Multi-Platform Adaptability
3. Flexibility
4. Cognizance
5. User Interface and Reporting
It is categorized as an
Order based billing used for bills with an fixed scope of the work or a fixed number of items to be delivered. Delivery based billing also used for bills that is include an estimate of the cost which is involved as per the customer requirements.
Taxability and classification with the respect of Computer software has always been a issue. However the Goods and Services Tax Act GST has to a huge extent of clarified the position to be adopted with the respect to procurement of the computer software.
Benefits of GST software
- GST Software will reduce the cost.
- The hectic paperwork gets the reduced which has leads to accounting automation.
- Ensures the easy transition from the current to GST
- The risk of the tax reduces as you are aware of all your current tax liability.
- Hassle free process of the GST returns and compliances
- Helps in report generation which is easy to reconciliation of records
There have been a numerous instances of wherein computer software's are procured by online, directly over the internet. In such cases, the buyer is usually receives a link via email through which is the software can be downloaded or the software is sent as an email attachment. The following paragraphs can discuss the classification, nature of the transaction, rate of tax, eligibility of input tax credit.
GST software makes the filing of the GST convenient for the businesses. The GST software which has improves the filing of the return and helps to the business owners to remain the compliant with GST filing in time. The GST software has generates invoices with the necessary details. The GST billing and report generation is very tedious process to comply. The software can makes it easier and allows for managing the timelines for the filing process. It also helps in the reconciliation of the statements and invoices. The software can helps in keeping track of the inward and outward supplies in order to keep the accounting and payments in time and with the proper details in the receipt and vouchers too.
Top factors which is consider while selecting an GST software
ONLINE / OFFLINE
Online and Offline based software have their own advantages. One has to choose in between the two according to their requirement.
User-friendly interface
In the business era, Not everyone is well addicted with the accounting technicalities and procedures. So, if the software can provided is stuffed with every possible feature, so it may become a little more complex for the user to use it.
Even if the software is used by a professional for the business unit, so every other member of the unit should know how to use it and Therefore it has to be user friendly and not at all mechanical.
The Budget
Its the most important part of the decision making process. Online software is having an recurring cost but they are inexpensive. Most of the offline software come up with a one time purchase option but are often expensive and you might be have to pay annually for the updates.
Conclusion
The GST software should be an informative and the customer should not feel clueless about any step that is to be carried out during a process of return filing. There should be an system of reminder for the return filing, As there are a number of the invoices to be filled and return to be has filed, the software should have the facility of making a reminder of the deadline which is with the return filing dates.
The author is nurturing his future at Techimply as Software Analyst and Writer for Billing Invoicing software, GST software, Accounting Software with good experience in various genres of blog writing in various industries under the several topics. Who loves to write on the latest Software technologies and their impact on business.
CAclubindia
