The launch of the Goods and Services Tax (GST) on 1st of July 2017, is the first step towards a new India that is working along with the uniform taxation for a more stable economy tomorrow.
The new integrated and consumption-based tax levied on manufacture, sale and consumption of goods and services has removed the cascading effect of tax-on-tax and has completely replaced the old and complex tax structure. It not only makes the tax system less complicated, but also helps in increasing compliance, boosting revenue and in reducing the tax outflow for consumers.
GST implementation has impacted almost all sectors with a mix of both positive and negative impact. The concern most business across all industries have is in and around GST filing and they are looking for a complete GST solution to help them with get through the initial GST hiccups.
Enterprise software with GST compliance can help businesses through this phase. They need to hence ensure adaptability, scalability and customization as the foremost features to ensure a positive GST Impact on SMEs. It is important to use a GST ERP Software that can not only just compute GST, but can also be readily plugged in to accommodate any upcoming changes in GST categories, rates and rules.
Deskera – as the preferred GST ready software provider
Malaysia introduced its GST in 2015 which is known to be the most complex GST structure in the South East Asian countries. Amidst the complexities, Deskera was one of the 1st GST ready software provider in Malaysia. Once Deskera had established the base in Malaysia with its GST ready software, it extended the software to countries such as Indonesia, Thailand and Singapore who implemented GST even before Malaysia. Having provided the GST software in these countries, Deskera is well versed with the nitty-gritties and the requirements of the industry and the best practices to follow during GST implementation.
“Deskera ERP software has always been a GST compliant accounting software and we have gone through exactly the same scenario, when GST was rolled out in Malaysia. We have hands-on experience tweaking our software to different needs of different countries. We have been the number one choice of SMEs in India too.” Says Shashank Dixit, CEO, Deskera.
Deskera being a pioneer in the industry is helping businesses understand the technical aspects of GST implementation, the impact on ERP software, and what businesses need to do, to comply with GST. With respect to GST implementation in India, Deskera has taken forward strides and has been recognized as the first Goods and Services Tax (GST) Ready Software in India.
Deskera’s easy-to-use GST ready ERP
Deskera ERP, a GST Ready Business Software helps automate and streamline the end-to-end business management process of multiple industries such as Manufacturing, Healthcare, Aviation, Real Estate, Automobile, and many more. The tool takes care of accounting, inventory, payroll, statutory compliance, e-filling, job work and all other manufacturing operations. With auto GST calculation feature, Deskera ERP helps organizations promote their business and parallely comply with GST.
The unique feature of the software is its capability to ensure a seamless transition for businesses from a non-GST enabled software to a complete GST solution. For instance, if a company has its financial data stored in an old financial system of any business software, Deskera takes responsibility to integrate the existing accounts with the GST billing software which is GST compliant. This ensures a complete transformation to GST in order to ease GST filing and invoice generation without hassle.
Deskera ERP allows GST filing with a 4 step process, by –
1. Creating multi-entities.
2. Defining state-wise tax rate.
3. Updating tax-rate for SGST, CGST, IGST and UGST. And,
4. Setting up the tax rate for products/services based on goods category.
And that is it!
While GST implementation has many benefits, it also comes with some challenges in and around the management and filing of GST through the complicated process.
Indian small and medium organizations are busy evaluating GST Ready Enterprise software that can help them become GST compliant. Although many organizations are already using ERP they still need to evaluate a comprehensive and complete solution to take care of their enterprise needs as well as helps them in staying GST compliant.
With the immense benefits that GST gets for multiple industries, India is looking forward to a GST approved software. While there are many GST Business Software, Deskera ERP is the first GST ready ERP software that is already being used by multiple organizations and is helping them become GST ready. Ease Your GST Filing and Invoicing with Deskera.