Ever since GST has been launched in India, accounting professionals like Chartered accounts, company secretaries and businesses in the country are buying different GST software applications and using them for various GST related tasks. So, what is a GST software actually, suitable GST software for professionals and how does it work? Let’s find out here.
What is GST?
GST, or Goods and Service Tax, is an indirect tax system which was implemented in India on July 1, 2017 to replace all the existing indirect taxes such as VAT and sales tax. GST is a consumption-based tax which is imposed at each step of the supply chain but paid exclusively by the consumer of a product/service. GST levied in the initial and middle stages of a supply chain is either adjusted or refunded back to the taxpayer.
GST in India has three different types, named IGST (integrated GST), CSGT (central GST) and SGST (state GST). At present, there are five slabs of GST in India – 0%, 5%, 12%, 18%, and 28%.
GST practitioners and businesses are required to file monthly/quality/annual GST returns providing the details of their taxable supplies and total tax liability, depending on their eligibility for the same.
What is GST Software?
GST Software is a computer application which is designed to help taxpayers with GST related tasks such as GST return filing, billing and more. GST software can ease the return filing process as well as automate most of the processes, making it easier for small businesses and startups to remain GST compliant without spending too much in the system setup.
A good GST software will cost you in the range of Rs 5,000 to Rs 10,000.
Who is it for?
Gen GST software is meant to be used by anyone who is engaged in activities like GST return filing, GST bills and e-way bill creation, etc, either for themselves or on behalf of others. For instance, business professionals and merchants can use this software for monthly/quarterly/annual filing of GST returns as well as for creating GST compliant bills for supplies. All professionals, on the other hand, can use GST software application for filing returns on behalf of their clients/customers.
Why do Accounting & Business Professionals need GST Software?
As you may already be aware, there is an official GST portal through which businesses can file GST returns. However, GST return filing with the GSTN portal can be complex and confusing for many businesses, as the process itself is lengthy and technical. This is where a good software like Gen GST can make the job easier for everyone.
Gen GST is a popular GST software by SAG Infotech Pvt Ltd which is helping CAs and business professionals all over the country with GST related tasks such as return filing, GST-compliant billing (for supplies), e-way bill for transports, GST tax payment, etc.
Besides providing an easy and comprehensive way for filing all GST returns, Gen GST offers the following features and benefits to the users:
- Unlimited Client E-filing with DSC/EVC (GSTR 1, 3B, 4, 9, 9A, 9c etc.)
- GST Software Available in both Desktop & Online variants
- Auto Error Detection & Error Summary
- User-wise Rights, Return & Invoice Status
- Generate Invoice for Regular & RCM (Reverse Charge Mechanism) Dealers
- Easy to Generate GST E Way Bill
- Single Click e-Payment of Taxes
- Import Data Facility in Returns from Billing
Your search for a complete and affordable GST software for professionals ends here!