Best GST Billing, Return Filing & Accounting Software
Goods & Services Tax is indeed a progressive tax reform that has led the nation much ahead of many others. The GST council implements various provisions for time to time in order to address the problems of traders and merchants having GST registration. Moreover, it frequently upgrades the Common portal in order to address technical glitches that pose hindrance in important processes like GST return filing procedure. It is an Indirect Tax forced in India on the stockpile of merchandise and ventures.
It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent. GST Council finalized a four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess. Service Tax will go up from 15% to 18%. The services being taxed at lower rates, owing to the provision of abatement, such as train tickets, will fall in the lower slabs. In order to control inflation, essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate. The lowest rate of 5% would be for common use items. There would be two standard rates of 12 per cent and 18 per cent, which would fall on the bulk of the goods and services. This includes fast-moving consumer goods.
This software easily enables you to enter all the significant data you require for your business. Not only this but it also checks the clients, merchants, contacts, solicitations and records, is all the significant fields provided food for.
- Those having GST registration, opting for GST paid on a quarterly basis need not wait for the quarterly application for GST refund. Now they can file the GST refund application on monthly basis. This will surely save time. Moreover, this will help to circulate the working capital flow in a business, just as the taxpayer need not wait until the quarter-end for a refund. However, such taxpayers would need to compulsorily file their quarterly GSTR-1 return for filing their refund application. This will enhance the compliance level.
- If you are required to bill and gather some type of Sales Tax, GST, VAT and so on, you can use billing software for GSTand it benefits a lot to the people in India. The best part of this software is that it is totally free.
- If you have different clients or staff who will help you then the item should enable numerous clients to access and refresh information simultaneously. You might likewise want to limit access to specific pieces of the program or information on your computer and on your mobile devise as well. For instance, you probably won’t need a few clients to have the option to erase receipt or client records. You probably won’t need them to see your marketing numbers or stock cost.
- E-way bill portal and the GST portal have now been integrated. This simply means that taxpayers can now import their data from for their E-way bill. This will truly save time & effort and will avoid repetitive data-entry. For example, BTHAWK accounting GST software has a great GST compliance feature which makes the consumers satisfied and stress free from all the compliance complications.
- There is no compulsion to furnish the bank account details at the time of GST registration. This is also applicable for NRTP who require GST registration. However, the bank account details can be later updated, that is during the first login to GST portal. This will save the time of the new businesses that are in the process of opening their bank accounts. They can now simultaneously proceed with GST registration. The GST registration certificate shall be obtained without the bank details.
- GST registration under composition scheme is going for compulsory migration from the composition scheme, can now simply reply to show cause notices. In case of proceedings against a taxpayer having GST registration in composition scheme, such taxpayer can now easily reply to SCN on GST portal.
- You can file an appeal against an order by an appellate authority, or against GST advanced ruling on the common portal. Also file an application for rectification of an error in an order passed with the appellate authority. If the appellate authority fails to timely issue a final acknowledgement, a system generated final acknowledgement will be automatically issued. This will simplify the process of filing appeals and will help in tracking their status.
Every business in India will need to comply with GST after 1st July 2017. GST rules will apply to invoicing, receipts, delivery challans and various other transactions. GST-compliant accounting software which will help you create GST invoices, file GST returns online and do reconciliation of sales & purchases.