Gstn Providing Free Accounting, Billing Software
May 31, 2019 By Admin
GST Network (GSTN) is offering free accounting and billing software to MSME businesses with annual turnover of up to Rs 1.5 crore. The software would help businesses create invoices and account statements and prepare GST returns.
The software providers offer basic features like sale/ purchase/ cash ledger, inventory management, supplier/ customer masters, generation of invoices, preparation of GST returns for free, while some services would be chargeable.
The move will help to move towards digital system so that their efficiency can be improved and their compliance burden can be reduced. But there’s clear-cut doubt from business that whether working with such software would be a headache for the billing & accounting staff. Their staff being used to other existing billing & accounting software, migrating to a new platform could be an uphill task.
Those who setup new business they will either will do accounting themselves or through accountants. Those who will try to do themselves must have basic computer knowledge otherwise this software will be of no use to them. Those do accounting with help of accountants/staff then migration will be a problem. It would have been better if this software was launched at the time when GST was implemented i.e. July 2017.
To avoid this government can setup support centers in terms of Call Centers, or some other training programs, which could provide training to business with a timeframe of 30-45 days.
Though move would be quite beneficial but with initial hiccups. MSME taxpayers are nearly 80 per cent in number under GST regime and thus this step is going to benefit a large number of taxpayers. GSTN on directions of GST Council has identified eight vendors to provide the accounting and billing software without any cost to such taxpayers.
Published by : RAKESH KANWAR & CO.
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