Our country is going the digital way and simultaneously experiencing major economic reforms, having adopted GST as the indirect tax levy on goods and services. These are signs of the changing times, with which we have to keep pace at all levels in order to attain growth. That also includes decisions business people have to take, such as selecting ERP software for business, which has to be GST compatible. The need of the hour now is to procure the best ERP software which fulfils all your business requirements and is GST-ready.
About GST-ready ERP Software
A GST-ready ERP software is an inclusive solution designed to function proficiently in the framework of diverse schemes and parameters one needs to adhere to as per the new GST regulations. It assists with carrying out tasks related to form formats, input tax credit, unique keys for CGST, SGST and IGST and their regulations along with other procedures and features itemised under the current structure of this taxation method.
As we know, ERP (Enterprise Resource Planning)
is a business process management software of integrated applications for business. Software programs like it are designed to enable organisations to manage key aspects of business comprising technology, services and human resources and systematize back office functions. They also assimilate all aspects of an operation in a sole database, application and user interface. Applying the same conception to GST was found necessary which led to creation of numerous accounting software programs that are GST-compliant.
Umpteen Advantages for Tally Users to Exploit and Grow
Tally, one of the most renowned accounting software, has introduced Tally.ERP 9. It has been hailed as one of the best ERP software programs as it has been devised to help users carry out virtually all functions and operations related to GST. Tally.ERP 9 has been crafted to meet all GST invoicing/billing needs that include simple invoices as well as advanced ones that comprise multi-item, multi-tax rates. It also assists with regulations like advance receipts, reverse charge, branch transfers, bill of supply, export bills and GST input tax credit.
Tally is appreciated as the perfect GST-ERP system software that simplifies all intricacies that complying with GST demands. Tally is known to be fully equipped to help everyone engaged in business activities including big business houses, SMEs, small tradesmen, merchants and store owners manage their operations conveniently and maintain records as just the way they should be.
The Impact of GST- Scenario Then and Now
When GST was rolled out by the government, people, especially those who do business, were apprehensive about the possible repercussions they feared they would face. Apart from its possible impact on business, they were worried out maintaining accounts, furnishing of records and filing GST returns and more. However, awareness created about the benefits and straightforwardness of GST, introduction of GST-ready software by Tally
and other measures aimed to reassure people of long-term gains worked. As of now, people, especially those who have opted for Tally, are reporting positive feedback and satisfaction as they look forward positively and more confidently to the coming times.