The launch of the Goods and Services tax is certainly a radical step, which has ushered in a new era of taxation in India. GST, being a comprehensive tax on the manufacture, sale and, consumption of goods and services, throughout the nation, has replaced a number of taxes, for instance, excise duty, VAT, service tax and much more.
In addition, GST, a combination of a couple of taxes, namely CGST and IGST, has impelled a substantial change in the taxation policies of many business organisations in India. Although, this change can be easily addressed with a notable adoption of a personalized, GST software!
GST software or a GSP (GST Suvidha Provider) is a pragmatic solution for Indian retailers, distributors, suppliers and manufacturing houses to fathom the complexities of GST tax structure.
There are a number of GST software’s in the market, capable of handling almost every aspect of a firm’s accounting and taxation procedures. A GST software, of what is set as a pre-requisite, offers a couple of modules to seamlessly integrate, a business’s billing, invoicing and accounting, with the taxation it is required to file.
Now, one thing that forms a major part of the overhaul is the uncertainty, whether it is mandatory to make use of a GST software, in order to file GST returns, or if it can be concluded through an offline procedure. With billions of invoices to be matched on a monthly basis, India needs a taxation system with an efficient and robust IT infrastructure that can ensure accuracy through real-time invoice matching capabilities.
In order to address this issue, GST India regime, has brought together a seamless and robust state-of-the-art IT infrastructure GSTN server, which will ride on the strength of technology, in the form of GST software’s, to make GST a simple-straightforward reform, without any hassles.
Business enterprises throughout the nation are firmly realising the importance of on boarding reliable GST software. In fact, almost every sizeable organisation, have already identified dependable software’s for a unified integration of their tax operations with GST.