To ensure a smooth transition for enterprises and businesses, Taxmann Technologies has unveiled a Goods and Services Tax (GST) centre of Excellence and launched GST compliance software.
The company's integrated software has exclusively developed for all GST requirements, filing Income-tax returns and TDS compliance.
"The implementation of GST will increase the compliance for companies and invoices should be as per the GST law. In view of the increased compliance and monthly returns that a company needs to file, One Solution developed by us covers buyer, supplier, goods and services, branch and bank with a facility to import from Excel," said Piyush Kumar, CEO, Taxmann Technologies.
Taxmann Technologies is an authorised GST Suvidha Provider and a part of Taxmann, a leading publisher of Tax and Corporate Laws in India for over six decades, has set up a GST centre of excellence.
The centre is crafted for Chartered Accountants, Company Secretaries, Cost Accountants, Advocates and Tax Practitioners to enable them to be GST ready and GST compliant.
The compliances under the GST regime are time bound and every month a registered dealer has to file three returns and an annual return. Every taxpayer has to file 37 returns in a year.
"One-to-one correlation of invoices is the base for entire GST credit mechanism. All parties are required to reconcile their invoices beforehand to avoid any reversal of input tax credit. In One Solution, we have developed a robust reconciliation facility so as to ensure that only reconciled details are reported," said Ansh Bhargava, Head–Growth & Alliances, Taxmann.
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