Is your ERP GST ready?

Is your ERP GST ready?

Shikha Samant
Shikha Samant
Table of Contents
Table of Contents

The goods and services tax (GST) was rolled out on 1 July 2017. It has been touted as the single biggest tax reform undertaken by the country in the last 70 years. This indirect tax levied on the supply of goods and services has replaced many indirect taxes that previously existed in the country. Thus, eliminating the cascading effect on the sale of goods and services. It not only makes the tax system less complicated but also helps in increasing compliance.

However, with the implementation of GST, various concerns have been raised by the SME sector. Since SMEs were not used to a structured process of tax filing, the concern mostly revolves around GST filing. Evolving from the era of maintaining account books on the “bahi-khata” pen & paper ledgers, there has been a rise in the demand of automated enterprise software. Additionally, a lot of vendors have mushroomed claiming to be GST compliant. This leaves SMEs further confused. Hence, it is crucial to decide wisely and choose the right software for the business needs.

Features to watch out for while choosing a GST ready ERP Software:

  1. It must be flexible and encourage seamless data migration and integration with existing systems.
  2. It should readily plug-in and incorporate upcoming revisions in GST categories, rates and rules etc.
  3. It should be accessible from multiple devices like mobile phones, tablets, and desktops anywhere, anytime. Thus, increasing the ease of online return filing.
  4. It should be intelligent enough to communicate the deadlines of tax-filing.
  5. It should be able to provide real-time information to promote quick decision making and transparency in operations.

Deskera ERP – the preferred GST ready software for SMEs

Deskera is an award-winning, emerging leader of integrated business management software products, being provided on cloud. Deskera is among the first few companies who are GST ready to cater to India’s biggest tax reform and help companies move to GST. Deskera’s products are truly ‘’made in India‘ offering a complete suite of business applications on the cloud. It has a strong presence in the South-East Asian market and are the no. 1 choice of SMEs in the region. This award winning company played a crucial role in helping SMEs transition from non-GST to GST regime in Malaysia. They have worked with various government departments and businesses across the region and assisted organizations, ensuring a seamless move to the GST based taxation system. With hands-on experience of migrating SMEs to GST, Deskera is well aware of the issues and challenges that SMEs face. Hence Deskera is well-versed on both the crucial topics of today – GST and SMBs.

Why Deskera ERP?

  1. It simplifies the newly implemented GST taxation by means of a simple, scalable accounts and financial management system.
  2. It allows you to conduct business on a pan-India basis with a single ERP system.
  3. It can easily calculate the applicable GST based on the government’s ‘Place of Supply’ rule by virtue of which GST becomes a destination-based tax and is levied at the point of delivery.
  4. It helps calculate state GST, central GST and integrated GST within one ERP system and generate smart reports for tracking applicable rates in a single view.
  5. It also allows manufacturers, VAT registered dealers and service tax registered service providers to calculate the Input Tax Credit they can claim under the GST regime.

Additionally, Deskera helps in seamless transition and integration of the financial structure from old version to the new one. For instance, if a manufacturing company has its financial data stored in any old financial system of any business software, he need not worry about integration of his accounts, as Deskera will integrate it with the new structure, which is GST compliant and hence help in the smooth shift. Deskera also helps SMEs in dealing with the complexity of the multi-layered tax regime. At the same time its cloud technology helps streamline inventories at multiple business units/ warehouses, thus providing real-time Input Tax Credits, which are most critical for GSTR filing.

Deskera ERP, a GST ready business software helps automate and streamline the end-to-end business management process of multiple industries such as Manufacturing, Healthcare, Aviation, Real Estate, Automobile, and more. The tool takes care of accounting, inventory, payroll, statutory compliance, e-filling, job work and so on. With auto GST calculating feature, Deskera ERP helps organizations promote their business and parallely comply with GST.

With Deskera’s cloud-based ERP software, you can file GST in 4 steps.

  1. Create multi-entities
  2. Define state-wise tax rate
  3. Update tax-rate for SGST, CGST, IGST and UGST.
  4. Set up tax rate for products/services based on goods category.

Thus, it is time to make the most of this innovative technology and ease your GST Filing and that too at a price affordable to SMEs.

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