NEW DELHI: In a bid to support small and medium enterprises with a turnover less than Rs 1.5 Crore, the Goods and Services Network (GSTN) announced free accounting and billing software.
As per the directions given by GST Council, GSTN has come in partnership with Billing and Accounting software vendors for this. This software will facilitate taxpayers to run their day to day business by providing daily billing and accounting features. For the GST related compliances, the facility of return filing is provided.
This facility is made available to the active Normal Taxpayers, SEZ Developers/SEZ units and taxpayers who have opted for composition scheme under the GST regime.
For the active normal taxpayers, SEZ developers and taxpayers opted for composition scheme under the GST regime, the Micro, Small and Medium Enterprises (MSMEs) will be provided free software with annual turnover under Rs 1.5 crores.
This software consists of eight features which are available as a cloud version and can be downloaded in both desktop and laptop. Sale, purchase, cash ledger, inventory management, supplier, generation of invoices, preparations of GST returns are available.
On 10th January 2019, at the 32nd meeting of GST Council, it decided to provide an easy accounting and billing utility for the taxpayers below the slab of 1.5 crore turnover. The software can be viewed on the GST portal in its download section.
This software has been made available for free of cost to the eligible taxpayers till 31st March 2021 or till the annual turnover of taxpayer remains under Rs. 1.5 crore. Afterward, to use it taxpayers may have to pay the respective fees to the vendors to use the software.
Source- Knn India.