With an expectation to uphold going on the government’s GST demonstration and to make each Indian SMEs/MSMEs GST pleasant to lead, a highly developed easy to utilize, need of courteous importance GST solution idea “GSTmadeeasy” is destined to be launched, as soon as end-to-end business situation solutions for MSMEs/small traders to counsel digitizing requirements mandated under the supplement GST regime and administration.
GST filing with ‘GSTmadeeasy’
CAIT (Central Administration of Information Technology) has said that GST is a technology driven tax collection system which requires compulsory consistence through computerized technology only. What’s more, about 60 percent of independent small business in the nation still can’t seem to receive computerisation in their current business format.
CAIT additionally expresses that half of the about six crore independent small business fall under the threshold limit of Rs.20 lakh and does not require registration or enrollment under GST. Another around one crore traders may also opt on ‘Composite Scheme’ however should get registered under the new tax regime. Remaining around two crore private small companies don’t fall under any indirect tax law and should agree to the new rule compulsorily.
Ravi Shankar Rao, Co-Founder and CEO of GSTmadeeasy said “It is disheartening to see the present situation of the private small businesses who are running from column to post, primarily as a result of absence of technology awareness and preparedness on GST, its overwhelming expense and additionally the clarity on GST rules and regulations to generate and document regular month to month/quarterly returns.”
On the best of the situation’s and that as well, for a created country, such solutions may be the correct solution. Be that as it may, for an as yet a developing country like that of India, we are still a long way from that reality, particularly when we discuss tier 2 and tier 3 cities and additionally the difficulties and limitations of mobile data connectivity in those thickly and thickly populated markets somewhere inside the walled city of Delhi’s Chandani Chowk, Khari Baoli, Sadar Bazar and numerous more over pan India involve grave concern, on the off chance that, one needs to run a cloud based solution.
GSTmadeeasy is an entire end to end business solution which will deal with all GST related issues, be it digitization of sales/buy invoices and that too boundless invoices, invoice validation with taxrates/HSN codes, proficient services at the backend for pre and post filing reconcilation, dispute determination/mismatch, tax ledger compromise, GST return preparation and filing and online tax payment assistance. To top everything a Help Desk from sunrise to sunset that too on a toll free number with GST professional accessible only a summon to help on any GST related issues, guaranteed the firm.
Concerning the technological difficulties, GSTmadeeasy will give an extremely easy to understand POS solution which is oppositely inverse to the next complex cloud based solution and which is intended to work offline also; which can be effectively worked by anyone who has the knowledge of utilizing a smartphone and that is it; rest of all will be consistently taken care by a group of professionally prepared executives at the backend on an extremely nominal month to month service charge of no restrictions or cap, at all.
Additionally there is a gigantic hole according to the Institute of Chartered Accountants of India; the number of Practicing Chartered Accounts in India including that of Fellows and Associates in Full Time Practice are 112369 and in Part Time Practice is 8282. In addition to that, it is additionally noticed that around 65 percent of the practicing Chartered Accountants in India does not rehearse in Indirect Taxes and, in actuality, the number of GSTINs are expected to ascend to more than 30 million in the following couple of years.
The accomplishment of this GST administration, additionally lies in, promoting an ever increasing number of independent small businesses to get themselves enlisted under the new GST Act to avoid from the effect of cascading impact of previous indirect taxes that have been subsumed as one tax into GST, at last, to make accessible the goods and services to end consumer at an exceptionally sensible rates. The increase in number of GST enrolled organizations will at last help the Govt. of India as far as multifold increase in indirect tax collection; to facilitate the development of our incredible India.