Deskera is GST Ready
GST is a critical reform that indicates the growth of a country’s economy. Know more about what is GST which not only makes the tax system less complicated, it also helps in increasing compliance, boosting revenue and lessens the tax outflow for the consumers. The Constitutional Amendment Bill for Goods and Services Tax (GST) has been sanctioned by the President of India post being approved by the Rajya Sabha and Lok Sabha. India is expected to have the GST bill take full dominance and replace all the indirect Centre and State taxes levied on goods and services by July 2017.
With the Indian GST coming into the picture, the impact of GST is on all industries. The GST vs current tax structure shows the comparison of the current taxes such as VAT, Service Tax, Excise, Octroi, etc. and tax structure post GST when these are likely to go away and a single taxation system will be established. It will be divided between the State and the Centre for an easier and a simpler taxation system. The most important work, therefore, lies with the accounting software. Accounting software, now, will have to ensure adaptability, scalability and customization as the foremost features to ensure a positive GST Impact on SMEs. Companies will now have to think beforehand about the changes needed to become GST compliant. Also, it is important to use a GST ERP Software that can not only just compute GST, but can also be readily plugged in to accommodate upcoming taxes. Keeping into consideration all GST requirements, Deskera is the first Indian GST compliant software whose cloud services already power more than 3,000 businesses globally. To know more Deskera becomes the first GST compliant cloud-based enterprise in India.
“With GST being one of government’s biggest tax reforms in the country; we are looking forward to it. We have been always ready for GST in India since our products are already being used in GST compliant countries like Singapore and Malaysia” – Shashank Dixit, CEO, Deskera
Deskera is a market leader in integrated cloud-based GST ERP software that caters mainly to the SME segment. Deskera was bestowed the 2016 Most Admired Brand award by VAR India. Deskera has also been listed as one of the top 10 companies in Deloitte India’s Technology Fast 50. With respect to GST implementation in India, Deskera has taken forward strides and has declared itself as the first Goods and Services Tax (GST) ready software in India. Deskera already has operations in Singapore and Malaysia and offers GST compliant cloud-based enterprise solutions in these countries as well.
Deskera currently has offices in Singapore, Malaysia, Philippines, Thailand, United States and India. With its GST Ready ERP and range of cost-effective cloud enterprise software solutions, Deskera mainly caters to the small and medium businesses. Deskera has actively worked with various government departments and businesses across the South East Asian region and has assisted organizations, ensuring a seamless move to the GST based taxation system. Indonesia was the first South East Asian country to implement GST in 1984, followed by Thailand in 1992, Singapore in 1994, Philippines in 1998 and Malaysia in 2015. Having already served and fared well in countries with the GST system of taxation, Deskera is well versed with the nitty-gritties and the requirements of the industry.
“Deskera’s ERP software has always been GST compliant and we have gone through exactly the same scenario, when GST was rolled out in Malaysia. We have hands-on experience tweaking our software to different needs of different countries. We have been the number one choice of SMEs in India too. All we need is to fill in the rates, and we are ready to go” – Shashank Dixit, CEO, Deskera
In India, Deskera has offices in Delhi, Mumbai, Pune and Ahmedabad. The unique feature of the software vendor is its capability to ensure a seamless transition and smooth integration of the financial structure from the old version to the new one. For instance, if a company has its financial data stored in an old financial system of any business software, Deskera takes responsibility to integrate the existing accounts with the new structure which is GST compliant. This ensures a completely seamless shift to the new GST taxation system.
Deskera’s easy-to-use GST ready ERP allows for a one-click GST filing
• Central and State Taxes can be defined in Deskera with one-click.
• If a vendor and customer are Interstate Party, then IGST will be calculated while posting an invoice.
• GST Report can be viewed along with the details such as Particulars, Transaction ID, Remark, Journal Entry, Document Date, Name, Exchange Rate, Amount in Transaction and more.
Deskera ERP helps automate and streamline the end-to-end process of multiple industries such as Manufacturing, Healthcare, Aviation, Real Estate, Automobile, and many more. With auto GST calculations, Deskera ERP helps organizations promote their business and helps them comply with GST.
GST is a game changing reform that will transform the Indian economy by creating a levelled playground for Indian companies and will minimize the surging effect of tax on the cost of goods and services. Deskera, with its cloud-based suite of integrated enterprise management solutions, is making notable contribution to the Indian IT space and working towards a positive impact of GST on IT sector.
With the GST implementation date nearing all Indian organizations are evaluating GST ERP software that can help them become GST compliant. Although many organizations are already using ERP they still need to evaluate an enterprise software with GST compliance to meet their needs.
With the immense benefits that GST gets for multiple industries, India is looking forward to a GST approved software. While there are many GST software company, Deskera ERP is first GST ready ERP software that is already being used by multiple organizations and is helping them become GST ready.