Concepts of software support for GST?
Answers
Explanation:
Basic Concepts of GST (Goods & Services Tax) Goods and Services Tax (GST) is a broad-based consumption tax levied on the import of goods and services, as well as nearly all supplies of goods and services in Malaysia, except for zero-rated & exempt supplies. In some countries, GST is known as the Value Added Tax (VAT).
Concepts of software support for GST software
Explanation:
There are certain important software support features that a GST Software system have are :
- Security
Security is one of the most important aspect to be covered in the GST software system. Securing the software from the unauthorized access is important. Security of your software plays important role in data security and return filing. There are many antiviruses like quick books
- Multiple Platform adaptability
Concept of matching invoices and a taxable person files GST returns on time . In order to create the compliance requirement of the GST Software should be accessible from multiple platforms while maintaining the security as well. This can create an ease of accessing the software from anywhere.
- Flexibility of the software
Many firms uses Enterprise Resource Planning software to manage the business operation and reports. GST software system should be flexible to integrate with the systems and provide support. GST Software have the intelligence to communicate with users and the information of the deadlines , events and notifications
- User Interface
Use of unique dashboards, informative reports , transparency in operations and support for real time information and save on working capital. Working on the operations to support minimum user interface principle.
- Reporting
Reconciliation tool in GST Software system used to support. This tool has cent percent ITC Claim, matching the invoices in the purchase data, invoices uploaded , missing suppliers data and downloading of months GSTR 2A from GST Portal in a go