• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 25, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

GST software: To support small business owners ignored by budget 2019

by Sagar
February 11, 2019
in Business, Story
Reading Time: 2 mins read
0
TwitterWhatsappLinkedin

 

You might also like

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

The interim budget is here, and it’s given middle-class taxpayers a lot of relief. Individuals, who have a yearly income of Rs 5 lakh or less do not have to pay any taxes. Furthermore, if your annual earnings are Rs 6.5 lakh and more, you’ll receive the same treatment, provided you invest in equities and provident fund. The farmers and defense sector have received similar advantages, save the small/medium enterprises. Small shop owners will enjoy the Rs 5 lakh tax slab when it is enacted, but the coming fiscal year will do next to nothing for their business.

Instead of worrying about tax rebates, businessmen can digitize the tax-paying part of their business by using a GST (Goods and Services Tax) software. Such a solution will bundle inventory and account-keeping with the larger functions of GST-processing and filing.
Businessmen can save time by making an inventory of their goods that already factor the GST rate. It also saves them from the hassle of entering the GST rate every time they generate a bill. The GST is structured as SGST (state GST) and CGST (Central GST).

Suppose packaged honey is registered in the ledger of a GST software. The tool will ask the operator to enter the 2.5% SGST and CGST of the packed honey, later adding them up to make a total GST rate of 5%. GST rates need to be dynamic as rates are likely to change with the variable economy.

GST billing software will bring accuracy to the process. Otherwise, written forms are prone to show mistakes and slip-ups due to poor writing. Since the whole process will be automated, Businessmen will be guided along the process, removing confusion along the way that comes with manual GST filing. GST software will also help shop owners with different types of GST, namely GSTR 1, GSTR 2, GSTR 3B, GTR 9. etc.

GST returns filing can be done within a few minutes with a GST software, as opposed to the manual process. In fact, as small and medium-sized enterprises sell their products, the total GST of the sale is indexed by the GST software. Users can then choose the type of return they wish to file and generate a JSON file through the GST software, which can be uploaded on the GST portal.

If the details don’t match between different GST filings, a few clicks on the GST software can reconcile the filed returns. The data can be exported and backed up in different file formats as well. Evidently, accuracy will allow more tax savings by reducing mistakes.

There is numerous GST software available in the market, the user can choose according to his/her GST-specific needs. Budgets will come and go, but GST software will ensure that small businesses are saving money and time.

Tags: GSTGST BillGST billing sotwareGST SoftwareGST software India
Tweet54SendShare15
Previous Post

Rivigo scores $35 Mn from Warburg Pincus and SAIF Partners

Next Post

Why Online Shopping Is Destroying Landbased Shops?

Sagar

Sagar Bhardwaj is a Digital Marketing Analyst at Marg ERP. Having expertise in the tech, finance, and Retail domains. He has published many stories across different platforms which made headlines. He is always ready when it comes about sports activities.

Recommended For You

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

by Harikrishnan A
June 25, 2025
0
Microsoft’s Copilot+ Faces Scrutiny Over New Recall Feature

Microsoft is preparing to launch another wave of layoffs, with its Xbox gaming division expected to bear the brunt of the cuts. The move is part of a...

Read more

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

by Harikrishnan A
June 25, 2025
0
Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

In a ruling that has stunned both legal experts and digital rights advocates, a Greek court has sentenced a 59-year-old man from Piraeus to five years in prison...

Read more

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

by Harikrishnan A
June 25, 2025
0
Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

Tesla's long-awaited Robotaxi rollout in Austin, Texas, turned heads this week—not just for its technical innovation but also for moments of troubling behavior on the road. Videos captured...

Read more
Next Post
Why Online Shopping Is Destroying Landbased Shops?

Why Online Shopping Is Destroying Landbased Shops?

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?