Doing business in India was never so convenient and easy. India is known to be quite notorious for its complicated tax system. Earlier, the businessmen were entitled to different types of registrations, direct and indirect tax laws related to VAT (Value Added Tax). On top of that, regular changes in the Sales Tax made things worse for a businessman.
Fortunately, those complications are passé. GST (Goods and Service Tax) was introduced by the Indian government; to make the taxation process easier for all the businessmen. It is a centralized taxation system implemented from 1st July 2017. So, now, the multiple-layered taxation system is reduced to a single tax system, GST.
Issues faced by Tax Payers
GST has become a crucial part of the Indian economy. The GST council is making all the efforts to educate businessmen about its benefits and filing processes. Undoubtedly, they have managed to cover a long distance successfully. But, still, a large number of businesspeople are finding some challenges in the filing processes. Issues like the absence of the name of their product from the portal, lack of knowledge, technical inefficiency, and so on. The manual GST filing is vulnerable to many errors and penalties. What if you have an option to switch to advanced GST filing software? Sounds interesting, right? Let’s see how you can get rid of these GST filing issues by changing to the GST software.
Benefits of using GST Filing Software
Are you still apprehensive about why you should file GST returns online through software? Here are some fantastic benefits of installing and using the same:
1. Easy Filing – The majority of the businessmen settle with regular accounting software. This software will only manage your inventories, finances, bills, and invoice and will calculate different applicable tax calculations. But the advanced GST filing software will make the entire filing and registration process easier for the taxpayers. You can now transfer complex data to the government portal in just a few steps, and file GST return online. Undoubtedly, with the introduction of this advanced software, registration, calculating data, and filing of taxes have become very convenient.
2. Ease of Customization – The best part about using GST filing software is that it is entirely customizable. The software is programmed to calculate tax and payments as per the business processes. There are additional taxes, manufacturing defects, and other faults in the software. You can easily customize these figures as per the current tax rates.
3. Invoicing made easy – If you are into the service sector like; IT, restaurant, or education, you might be still following the VAT system. This multi-layered taxation system is quite complicated. Calculating different types of taxes as per their rates, items, and the transaction can be a tedious task for you. The good news is this headache of yours is taken care of by this advanced software by making your invoicing simpler.
4. Accessible Data – Most of the software fails to store your data. But, the GST software is a comprehensive program. All the data entered by you is stored in a secure central system. You are free to access that data anytime and anywhere. You can now quickly check and keep track of your cash flow, verify it, and conduct an analysis of your payments with this software.
5. Error-Free – Errors are more likely to happen when you go for manual calculations. And tracking those errors is a massive headache. But, when your entire billing and invoicing are done through software, you have zero scope for errors and mistakes. In other words, you can avoid all the miscalculations and troubles by incorporating GST filing software.
6. Cost-Effective – You can save a lot of your time and money by using Giddh GST software. How? All your calculations are done automatically. You need not hire extra staff to file GST on time. All you need to do is, feed the data, check it once, and wait to get the filing confirmation. What more can you ask for?
GST software will help you in account reconciliation, invoicing, and GST filing. Make sure you have all the relevant data with you before you initiate the filing process. Also, it can connect with your bank account directly. This step will help you in cross-checking your debit and credit payments. GST is not a one-time taxation system. The Giddh GST software also allows you to set reminders for the next due dates as well to ensure timely and accurate GST filing. Trust only a brand for simple and fast invoicing!