One nation, one imposed tax to direct? Not quite, not yet.
Everywhere there is a boom of GST i.e. Goods & Services Tax in India, which headed its lead on 1st July 2017. A multistage, destination-based tax, GST is now levied on every value addition. This indirect tax throughout the nation is anticipated to make India one unified common market.
From buying raw materials to processing, manufacturing, storing, and selling to customers – A monetary worth will be added at every stage to attain the final sale to the end customer will be taxed.
Hence, a final buyer will only realise the GST charged by the last dealer in a supply chain, with offset benefits at all the previous stages.
A look through GST
Now, when we look deep into the comparison of GST, it is entirely different from the existing system. Currently, the central government imposes excise duty on the manufacture and then VAT (Value Added Tax) when the item is sold at the next stage in the cycle.
Therefore, from processed raw material to be manufactured into finished product there would be a VAT at the next point of sale. And, then the final product is sold to the dealership, then to the consumer and so on.
Whereas, if you take a look at GST, it is dual layered tax system with both central and state tax imposed on the same base on all the goods & services.
Now, there is a difficulty and a common query in everyone’s mind, How to calculate GST and file returns? As, it’s little hard for almost every business person, CA, CS and job worker to adopt this taxation on short notice. But, on the other aspect, it is necessary to work and buck up with the benefits of the new tax system. This can be only possible by adopting new technology in your day-to-day business.
Hence, one of the start-ups based in Udaipur has got something for all business persons and the financial experts; GST ready user-friendly software designed by https://gstpay.in/ is convenient for creating GST invoices and file GST returns.
This software is approved application service provider in Udaipur meant for business people, chartered accountants, and for job profiles. And, it is specially developed for MSME industry of Udaipur and other zones.
Benefits of this GST Software
And, how it is beneficial for all? Well, when we had our conversation with CEO and founder of GSTpay.in, Nitesh Seth, his response over GST came up like,
“Filing a return on a monthly basis and managing returns of multiple clients is not an easy task. And, nowadays the government has specified online return filing, which may not be so familiar to many.
Therefore in case, to align your IT and software needs for goods & service tax, you can check out a worry free GST returns filing process with it.”
And, by taking a look at this software, we got to know that it has added benefit for small-scale industries. It can be easily interfaced with Tally and other ERP using open data formats like CSV, XML and Excel. Whereas main features work for small players where they can follow inventory management, invoice generation, Return filing, and GST Compliance Report, etc. within a single software.
So Folks! Here you have an option to get a GST compliance reporting and flexible client-server software for your benefit. And, if you want to have consultancy for GST software development or customised software designed for solving your purpose of return filing, you can visit a website https://gstpay.in/, or you can also reach them at –
Oyaa Information Technologies Private Limited
Bhupalpura, Udaipur, Rajasthan India
For your better information, you can connect with them on call at +91-9460828179