Gst Enable Accounting Software

Is GST has become a boon or a burden for Small Enterprise Business? Goods and Services Tax (GST) is implemented in India on 1 st July 2017 after a decade of debate and discussions. It is implemented with an aim of “One Nation, One Tax”. It is said that GST will be the biggest tax reform of India since its independence. GST has now replaced all the existing indirect taxes by Central GST, State GST and Integrated GST. It is believed that the implementation of GST will help the small enterprise to over-come the burden of double taxation. But the question is that after the four months of GST implementation whether it has proved to be a boon or a burden for the small enterprise business. Does a small enterprise require a GST enabled accounting software? GST has brought radical changes in the taxation system of India and has given some basic guideline that every business must follow to comply with. It became absolute necessary to keep proper record for accurate tax declaration. ...

GST: Goods and Services Tax, the talk of town today, being claimed to be the greatest economic and fiscal reform since independence. Government on one hand applauds its effort for the implementation of GST and believes it will be a boon for the economy of the country; opposition is of the belief that it will spell disaster for country’s economy. However the major mass is still confused and finds it difficult to choose the sides due to complexities of GST, this is when accounting software provides relief i.e an application software that is used to record and process accounting transactions. GST accounting software provide a smooth tax-paying experience and offer certain other features like: Easy Invoice Generation: GST invoicing software are of great help in preparing a proper invoice for the various goods sold and to maintain the invoice records of sales as per GST standards. Along with this it also helps the business organization to  properly  maintain the records of o...

Transition to GST  Goods and Services Tax (GST) has replaced the previous State and Central level indirect taxes like Service tax, VAT, CST, Excise etc. Organizations that are registered under Service or VAT Tax are required to march forward to GST according to the enrolment plan of State Governments. It is applicable to businesses those have annual turnover of Rs. 20 lakh or above. In case of hilly areas i.e. Jammu & Kashmir, Himachal Pradesh, Uttarakhand, and Sikkim, and North Eastern states (Assam, Arunachal Pradesh, Mizoram, Meghalaya, Manipur, Tripura and Nagaland) the threshold limit is Rs.10 lakh. Though in many sense GST has made the life simple however in many ways it has added the compliance burden since it is asking to load 3 monthly returns and the return should also contain invoice wise details in many cases. These increasing compliance has forced the entrepreneurs to find out the suitable tools in forms of GST enabled accounting software that could reduce thei...