Uploaded on Jun 20, 2019
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Online GST Return Filing in Chennai - Kanakkupillai
GST Nettwork offffers ffree accounttiing and biilllliing soffttware tto MSMEs
GST Network
GST Network (GSTN) Tuesday said it has started
offering free accounting and billing software to
MSMEs with annual turnover of up to Rs 1.5
crore, which would benefit about 80 lakh small
businesses.
Moving Towards Digital System
GSTN has partnered with eight billing and
accounting software vendors for providing
software to the micro, small and medium
enterprises, with annual turnover under Rs 1.5
crore, in a financial year without any cost to such
taxpayers.
Almost 80 lakh MSMEs with turnover of less
than Rs 1.5 crore could benefit.
Billing Software
This software would help businesses create
invoices and account statements, manage
inventory and prepare GST returns. The said
software is available under 'Download' tab on the
official GST portal www.gst.gov.in.
Billing Software - Advantages
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 for services like additional feature like
bank reconciliation,
account receivable would be chargeable.
MSME - Benefits
The move will help MSMEs to move towards
digital system so that their efficiency can be
improved and their compliance burden can be
reduced.
Such taxpayers are nearly 80 per cent in number
under GST regime and thus this step is going to
benefit a large number of taxpayers.
GST Billing
The GST Council had in January approved the
proposal of providing free accounting and billing
software to small assesses up to Rs 1.5 crore
turnover.
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