BUSINESS
CAIT has said that GST is a technology driven taxation system which requires mandatory compliance through digital technology only
With an aim to support the government's GST initiative and to make every Indian SMEs/MSMEs GST compliant, a revolutionary easy to use, need of the hour GST solution ,GSTmadeeasy is soon to be launched, with end-to-end business solution for MSMEs/small traders to deal with digitizing requirements mandatory under the new GST regime.
The Confederation of all India traders (CAIT) has said that GST is a technology driven taxation system which requires mandatory compliance through digital technology only. And, nearly 60 per cent of small businesses in the country have yet to adopt computerisation in their existing business format.
Ravi Shankar Rao, Co-Founder and CEO of GSTmadeeasy said, "It is saddening to see the present scenario of the small businesses who are running from pillar to post, mainly because of lack of technology awareness and preparedness on GST, its daunting cost and moreover the clarity on GST rules and regulations to generate and file regular monthly/quarterly returns."
"It is shocking and disheartening to see that all the so called GST solutions floating in the market are just cloud based software package / ERP solutions, which mandatorily requires a hardware which could mean a substantive captive investment for a small business, and furthermore, computer software knowledge/awareness to operate upon such ERP Solutions. The next technological challenge could be of getting online to run any such cloud based solution. On the contrary, the practicing GST professionals with their given limitations are helpless but to charge based on the number of sales / purchase invoices to be uploaded per month to generate and file GST returns." Rao said.
On the best of the scenario's and that too, for a developed nation, such solutions might be the right solution. But, for a still developing and a growing nation like that of India, we are still far from that reality, especially when we talk of tier 2 and tier 3 cities and moreover the challenges and limitations of mobile data connectivity in those densely and thickly populated markets deep inside the walled city of Delhi?s Chandani Chowk, Khari Baoli, Sadar Bazar and many more over pan India are a matter of grave concern, if, one has to run a cloud based solution.
Rao further added, "GSTmadeeasy is the first and only solution in country until today, which has been conceptualized, designed and developed keeping in mind the challenges, difficulties and limitations of small traders, such as, technology awareness and preparedness, its daunting cost and moreover, the clarity on GST rules and regulations to generate and file regular monthly/quarterly returns."
How exactly will it work?
GSTmadeeasy is a complete end to end business solution which will take care of all GST related issues, be it digitization of sales / purchase invoices and that too unlimited invoices, invoice validation with tax rates/HSN codes, professional services at the backend for pre and post filing reconciliation, dispute resolution/mismatch, tax ledger reconciliation, GST return preparation & filing and online tax payment assistance.
As for the technological challenges, GSTmadeeasy will provide a very user friendly POS solution which is diametrically opposite to the other complex cloud based solutions and which is designed to work offline as well; which can be easily operated by anybody who has the knowledge of using a smart phone and that?s it; rest of all will be seamlessly taken care by a team of professionally trained executives at the backend on a very nominal monthly service charge with no limitations or cap, whatsoever.
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