GST Enabled ERP Software – The first step towards a new India is the launch of the Goods & Services Tax (GST) on 1st of July 2017 that is working along with the uniform taxation for a more stable economy tomorrow.
The new integrated and consumption-based has removed the cascading effect of tax-on-tax and has completely replaced the old and complex tax structure, tax levied on manufacture, sale and consumption of goods and services. It also helps in increasing compliance and it not only makes the tax system less complicated but boosting revenue and in reducing the tax outflow for consumers.
Almost all sectors with a mix of both positive and negative impact GST implementation have impacted them all and to concern most business across all industries have and they are looking for a complete GST solution around GST filing to help them with get through the initial GST hiccups.
Businesses through this phase, enterprise software with GST Enabled ERP Software compliance can help them. GST can not only just compute GST but can also be readily plugged in to accommodate any upcoming changes in GST categories, rates & rules so GST Enabled ERP Software is important to use.
Easy-to-use GST ready ERP
The end-to-end business management process can be managed by a GST Enabled ERP Software. That helps automate and streamline of multiple industries such as Shoes Manufacturing, Healthcare, Aviation, Real Estate, Automobile and many more. The tool takes care of all other manufacturing operations such as accounting, inventory, payroll, statutory compliance, e-filling, job work. To ensure a seamless transition for businesses the unique feature of the software is its capability from a non-GST enabled software to a complete GST solution in order to ease GST filing and invoice generation without hassle and this ensures a complete transformation to GST
ERP allows GST filing with a 4 step process, by –
1. By Creating multi-entities.
2. By Defining state-wise tax rate.
3. By updating tax-rate for SGST, CGST, IGST and UGST.
4. By setting up the tax rate for products/services based on goods category.
The way ahead:-
It also comes with some challenges in & around the management and filing of GST through the complicated process while GST Enabled ERP Software implementation has many benefits.
Become GST compliant, Indian small and medium organizations are busy evaluating. GST Ready Shoes Enterprise software that can help them. And 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 for Footwear Industry .