The GST rollout brought rush for all types of business in India. It increased the urgency of the people to comply with new taxation regime but with the simplicity and ease. And also the people started running for the assistance of the chartered accountants and financial advisors. Imagine a holocaust in which all the resources are gone but there’s only one source left at some remote destination. How will the people approach that place? Chaotic, right? The same happened when GST got implemented and the people with their crawling businesses, all of a sudden, had no idea about their next move.
Although, the solution is not in creating chaos but in simplifying the situation. And if you really want a simplified and easy GST, then you must take the assistance of efficientGST reporting tool. But before investing your time in the search for a software, here are some points that will help you choose the right one:
- Registration and return filing– The tool that you make up your mind to go with must provide a seamless compatibility with every single step that is required as per the rules and regulations of the GST Act. The tool must give you the access to all sort of safe document upload/download on the system so that it can be processed. For example, if you are trying to register, then you should get the feature in which you will just upload the required personal documents and within a certain amount of time, you will, in return, get the notification with details of your successful registration and the GSTIN number as well.
- Integrated tax calculator– As GST is destination-based, the calculation of the applicable tax on the supply of goods and services becomes a bit tricky which makes the process time-taking. In order to make the process time-effective, the tool should come handy with a tax calculator that could not only give you accurate CGST, SGST, and IGST results but also help you find the applicable HSN/SAC codes associated with the supply.
- Automated invoices– This feature basically separates a tool from all others that are available, whether free or on the chargeable basis. The preparation of the invoices requires a huge amount of time. The reason it takes too much of time is that every business these days is associated with not one, but multiple external businesses in the market. With the feature such as automated filling, once you have mentioned the name of the buyer/supplier, the tool will automatically retrieve the details and fill in the sheet. This ultimately reduces your time and the hassle of every time making new invoices for separate supplies.
The documents that are used in the processes of GST are personal and highly-credible. Avoid putting your trust on any random technology available on the internet. Do research about the tool’s authenticity and reviews of the people who have already used the service. Be smart and efficient at the same time.