New government tax regulations under the GST regime complicate tax compliance. Every dealer will be required to remit three monthly returns and one yearly return under the new regime. Multi-state suppliers need file GST returns in every state in which business is conducted.
Business entities have two choices moving forward: either devote more humans to tax compliance or switch to an automated solution. Manual compliance risks manual errors. India's GST system is broadly based on the GST system already implemented in Malaysia, and many Malaysian organizations were shuttered due to non-compliance after GST was implemented.
The most affordable and accurate way to comply with the new GST tax regime is to adopt GST Reporting Automation solutions. The new GST regime will bring new compliance challenges for all businesses. Those that adopt GST Reporting Automation Solutions will be in the best position to successfully navigate the challenges ahead.
Benefits Of our GST Reporting Solutions:
GST Automation can facilitate compliance with automated GSTR preparation.
Provide Interactive dashboard.
Auto invoices reconciliation, tracks ITC mismatch, and provides correction assistance.
Timely compliance, report generation, comparison of reports
Decision making, cost-effectiveness and more