Goods and Service Tax (GST) is a great revolution for businesses in India. GST system converted the complex indirect tax framework of India into an easy, feasible, and integrated one. Before the advent of GST, the taxation process was a little tiresome but it is easy to file taxes with GST.
In the long run, this new tax reform will overflow the Indian economy with positive effects. But the problem is filing GST taxes takes a little bit more time. Moreover, it is important for business owners to make sure that they enter 100% accurate details. Thus, it may take a little bit more time and effort but to make it easy, you can use the GST billing software.
The GST billing software for business automates the process and thus it is easier to file the taxes. GST’s unified tax format throughout India is an onerous task, especially when all Indians are not on board with the GST related processes. Some of the small and medium-sized businesses aren’t aware of the benefits that this billing software has.
You will see in this article will provide you with the important reasons why you need the best GST billing software even if you have a small business.
Mandatory fields a GST invoice should have
Companies generally issue a tax invoice to charge the tax and pass on the input tax credit. You can easily create it using the Easy GST website. You can easily file all your GST returns with one click, as you enter all your bills and invoices here. The website will automatically submit them to GST Server.
- A GST Invoice must have the following mandatory fields:
- Invoice number and date
- Shipping and billing address
- Customer name
- Place of supply
- Customer and taxpayer’s GSTIN (if registered)
- Item details i.e. description, quantity (number), unit (meter, kg etc.), total value
- HSN code/ SAC code
- Item details i.e. description, quantity (number), unit (meter, kg etc.), total value
Ease of Filing Data and Simple Invoicing Methods
Most businesses use simple accounting software for all their requirements. Thus, this makes it harder for them to file the data and then integrate it. They have to merge that with the online government portal of GST. But with the help of GST tax software, it’s easier to migrate data from the software to the online portal.
GST invoicing is a little complex. Different goods have different HSN codes and tax percentages and you must enter the right codes as well as calculate the right tax percentage. Hence using Free GST Software in India will make it easier to invoice various goods without any hassle.
Manage the Documents as well as Follow the Rules of GST
There are various documents in the business, from filing taxes to warning notices to refunds. All these documents have become digital since the emergence of GST and online documentation is mandatory. GST Tax Software will store your documents with ease & will classify them based on their types & store them in various folders.
There are various rules of GST according to the government. From various HSN codes to different tax slabs there are so many minute details to take care of. Also, small and medium-sized businesses aren’t always able to afford an accountant and often are in a terrible state. Easy GST website will make it easier to fill your GSTR 1,2 & 3 and also support your composition scheme.
Data Security and Customization Facility
Data security is the most important thing in recent times. No matter where you store the data, there is a high chance of breaching. But you can overcome this situation with free GST software in India. This software will take care of the security threats and thus they provide amazing security for the users.
You need not worry about the data that you have stored in the software, as it’s safe there. Also, investing in software like this will surely yield you so many benefits.
Cost-Effective and Time-Saving
It is important for you to keep track of your invoices if you are running a business. But the software will make things manageable and will help in keeping the track of all the invoices. It calculates the tax separately for each and every invoice. And thus the best GST billing software makes entire invoice processing is pretty simple and easy.
It solves all finance-related problems, from invoicing to tax filing easy and a lot of your time will be saved.
Artificial Intelligence Will Make Everything Easier
A business entity of one state files thirty-seven tax returns in one single year. Although GST vanished the indirect taxation system, the entire GST taxation system itself is complex. It takes some time as well as effort to adapt to the system. If your company has branches pan India then your company should file a total of 1073 tax returns in a single financial year.
It is definitely not an easy process. So, the artificial intelligence of GST compliant billing software comes as a saviour here. And makes it easy for your businesses to file taxes.
Customization
The customization feature of the GST billing software adds eggs to one’s beer. The software can be customized as per the demands and needs of your business. The artificially intelligent GST software is capable enough to address various types of tax penalties. Another advantage of this software is that it is highly flexible and can easily combine with various other software as well.
Key features to look for in a GST billing software for business
Here are some important features or details you should look for in the software that would ultimately benefit your business units.
- A security feature that will protect confidential business information and that is robust in both tax filing and data security features.
- Invoicing, Accounting and GSTN validator.
- User-Friendly interface with step by step process explained that allows to navigate back and forth (excel-like interface).
You must invest in GST compliant software, as it is always a profitable deal. It will make your process simple, quick and more productive.
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