The Indian Government shook up the business scenario in India on 1st July 2017 after a bold decision by the Indian Government. Earlier, businesses in India had to file several types of taxes. The taxation process was lengthy, and the calculation was complex. However, with the implementation of Goods and Service Tax (GST), the situation took a turn for good. As of now, every registered business in India needs to comply with the GST regulations to operate on the Indian soil.
Although the calculation is also not a child’s play, certain online tools have made it easier to calculate GST. With these online solutions, businesses can save tons of time and, in turn, money.
Read on to uncover a list of ten such tools that every business should consider to calculate their taxes –
- HDPOS Smart
This dedicated GST billing software is most suitable for small businesses struggling to comply with the government rules about GST filing. A large section of Indian small and medium enterprises trusts HDPOS Smart for managing some of their vital business functions, like –
- Managing inventory
- Managing sales process
- Managing suppliers and purchasers
- Calculating taxes
HDPOS also has a retail billing tool for retailers to streamline Bill of Material, manufacturing processes, barcode printing, and CRM. So, it is used in a number of retail sectors ranging from sports shops to bookstores. Some of the best features of HDPOS are –
- Provides smart viewing options for tracking sales and customer behaviour
- Can be easily integrated with secure payment gateways
- Helps manage stocks, billing, and reporting through the mobile app
- Helps create customised invoices
- Tracks stocks in transit and transfers them instantly
- Scans customers’ buying patterns and offers promotional offers
- Compatible with the majority of POS machines and barcode scanners
- Enables the business owner to manage multiple retail locations from a central system.
This versatile app costs 13,000 INR for a single system. Businesses can buy server support by spending INR 25,000. However, you can opt for a free trial before purchasing.
- Vyapar
This government-approved online software is a popular GST billing and inventory management option. This online tool has a user-friendly interface. Hence, many business owners use this tool for invoicing and billing. This software has a number of smart features like –
- Customer management
- Invoicing
- Budgeting
- Financial management
- GST compliant taxation
- Email integration
- Mobile support
- Inventory management
- POS invoicing
- Recurring invoice
- Expense tracking
- Barcode integration
This tool comes free of cost with all the basic tools. It also comes as an Android app with a dedicated support system. However, you will need to spend INR 99/month for the premium package. You can also opt for the lifetime package for only 4899 INR.
- ClearTax
ClearTax is abundantly used for filing returns, GST billing, inventory management, and creating personalised invoices with brand logos. This comprehensive GST filing tool updates itself frequently to ensure compliance with government rules. Some of the best features of ClearTax are –
- Audit trail
- Invoicing and billing
- Tax management
- Inventory management
- Sales tax management
- Sales dashboard
- Reporting
- MIS reports
- Data security
- GST reports
- Collaboration
- SMS and email alerts
This tool comes with limited free trial modules of receipt management and invoice generation. However, you need to spend 6,999 INR a year to unlock the business edition.
- Marg ERP GST Pro
This software has seen immense popularity among Indian MSMEs. A large number of MSMEs are using it for accounting and GST billing. This tool is considered one of the best GST filing software for individuals and companies. It is also capable of performing many business functions –
- Taxation management
- Accounting
- Banking interaction
- Payment management
- Invoice management
- Multi-currency support
- Customer management
- Product data base
- Purchase order management
- Expense management
- Quotation and estimates
- Recurring invoice
- Payment gateway integration
- Multi-user login
- Inventory management
You can use this software for free for a limited time. After the free trial period, you can shell out INR 8100 to unlock all the premium features like MIS reporting, invoicing, inventory management, and accounting.
- Tally ERP 9
Looking for a tool that accurately files your GST and helps in inventory management? Look no further than Tally ERP 9. Tally has been operational in the Indian market for a long time. Tally ERP abides by all the government rules and generates accurate bills and GST invoices. The features that make Tally a household name in the Indian business scene are –
- Accounting
- Budgeting
- Inventory management
- Customer management
- Invoicing
- Asset management
- Email integration
Tally ERP 9 has a free trial version, where you can generate up to 10 invoices, receipts, and reports every month. You can always upgrade to the Silver Edition of the tool and unlock all the premium benefits.
- Go, GST Bill
This software is a leading online tool for online GST filing and POS management. This software comes with lifetime free updates. So, many retailers prefer to use this tool to file GST returns while complying with government rules. It has a few other features like –
- Customer management
- Accounting management
- Billing management
- Payment handling
- Maintaining inventory and creating invoices
- Product data base
- Order management
- Taxation management
- Quotation
- Invoice design
- Vendor management
- Software inventory
- Profit and loss statement
It has a lifetime free service with all the basic features like report generation and tax filing. However, you can unlock the premium features like multiple user support and receipt customisation by buying the premium plan at INR 1499.
- Saral GST
This software lives up to its name and is undoubtedly one of the simplest GST filing software currently available. Apart from filing GSTs, you can also manage input tax credits and a plethora of other functions like –
- Billing and invoicing
- E-payments
- Monthly GST report
- Online GST report
- Sales dashboard
- MIS reports
- Permission management
- Reporting
- MIS reports
- Data security
- GST returns and compliance
You can try all their features for free within the trial period. After the trial phase, you can buy the premium features for INR 6900.
- Busy GST
Filing GST and printing reports are now easier than ever with Busy GST software. This software has positioned itself as the one-stop solution for all accounting and billing needs. Its versatility and functionality have made it immensely popular among several Indian SMEs. Some of its prime features are –
- Financial accounting
- MIS reports
- Multi-currency support
- Inventory management
- Bill generation
- GST invoicing and reports
- Bill generation
- Purchase order processing
- Sales quotations
- Customisable reports and receipts
- TDS and TCS
- Service tax and excise duty
Like the other online GST tools, it also offers a free trial run for a certain period, after which the users need to buy the software for the premium features.
- Sleek Bill
Sleek Bill is a common choice for most SMEs as their prime GST return tool. You can file GST returns offline with the accurate billing and invoicing features of Sleek Bill. Some of its other features are –
- Accounting
- Customer management
- POS integration
- Inventory management
- Expense management
- Customer payment handling
- Product data base
- Taxation management
- Estimates and quotation
You can get an offline version of only 10 documents every month in the free version. You need to pay INR 1999 per month to unlock the premium features.
- Gen-GST
Gen-GST is a business software best suited for generating annual return forms and filing e-bills. You can perform various other functions with Gen-GST like –
- Generating and managing bills
- Billing and invoicing
- Multi-company
- Mobile app
- Report management
- Discount and schemes
- Bank reconciliation
- Data backup, security and many others.
This software is available in both online and offline modes and will cost you INR 5000 per year for the premium version.
Summing Up:
These ten GST filing tools can help you save more money by saving time and effort. This is why every ambitious company must check out these ten software to become successful in 2023.
Author Bio:
Narayan Iyer is a leading expert on taxation and GST. He freelances for MyAssignmenthelp.com and offers both assignment help and online do my assignment help to college and university students.
