By using this billing software you enable your customers to pay the bill in a few seconds without any extra charges or delayed fines. 

The problems faced by your Business without billing software

All businesses face many problems and one of the major problems is when their customers do not pay the bills on time resulting in poor business credit scores and eventually low growth. If you want to balance your cash flows and balance sheet, you need an adequate amount of cash, and payments continue to keep going. Here’s when BharatBills GST billing software can rescue you. Its payment reminders make sure customers pay on time. Moreover, customers can pay through payment links and QR codes leaving no space for the shortage of finance. 

Here are some of the troubles you might face in your routine business:

• If a customer doesn’t pay you on time, your business faces a scarcity of cash.
• You cannot manage your cash flows, balance sheets, and cannot determine profits.

Overcome these Problems with Best GST Billing Software in India

If you want to overcome these problems then pick BharatBills, one of the best billing software out of many. In this software, many features are provided for payment by which you can easily pay your bills on time. Customers can scan the QR code or you can send a payment link to the customer along with a reminder. 

The main features of the payment module in BharatBills are: 

• Scanning QR
• Payment Gateway
• UPI
• Bank

So in case, a customer doesn’t have the cash to pay, they can pay the bills directly from their bank accounts.

Conclusion: 

Receiving payments from the customers is the most important part of every business, we can surely say that billing is the backbone of every business. Never let your customers make an excuse for the unavailability of cash, Let them pay with BharatBills.

Sounds interesting? Register for a free demo account today! 

The constant urge of making people capable of operating the systems made us think to bring a solution that satisfies the need of the hour without including much technical interface. 

Taking you back to the times when GST made a visit in India in 2017, seeing multiple small business owners struggling with GST calculations made us realize, to serve them with a solution that simplifies calculations along with their complete business.  

How amazing it would be when you neither have to worry about the billing nor the inventory. Time is gone when you had to maintain that huge “Bahi khata” and flip through hundreds of pages when your customer says “I think I paid, check if you wrote that” 

We understood the pain and came up with a solution that not only simplified calculations but also removes the complete manual efforts of the billing process. 

But did problems end with digital invoicing? Not really!

People started getting frustrated with the long processes of saving and searching those bills in excel sheets resulted in high time usage along with the doubled work. We strived towards solving this need as well by Reports. You can simply check various reports be it sales, purchase, or even inventory reports.  

Business problems started generating more problems with time. 

This is nothing but the happy faces of our customers that made us grow bigger and better over time, starting with the GST-compliant invoices to E-invoicing. We started with zero to add that extra zero in your revenues by simplifying this troubling process. 

You might be wondering if billing software can actually add to your revenues? 

Many SMEs usually find themselves in this pothole of billing that they forget to keep a check over inventory and focus on the operational part of the business in general. Owners struggle in analyzing their sales and revenues resulting in hiring more human resources for simplifying the business processes. Human resources further add to business costs along with the unnecessary disputes that’ll cost you your time and the money as well. 

We not just created invoices for our customers but also built an unbreakable relationship with them by providing on-the-go support, every time they were in need! 

Every coin has two faces, likewise BharatBills! 

Business owners came up with their queries related to their user experience and wanted to export their data, we, on the other hand, wanted to give utmost importance and convenience to our customers and assisted them with their data exporting that too in their desired formats, BUSY or TALLY. 

This is all because of the mutual trust that we share with our customers and our boundless dedication to solving the issues with an impressive technique but without sounding much technical. We started with the only motive to swap the pen and calculator with mouse and keyboard but ended up making businesses simpler than ever by giving a complete solution, for instance, you don’t have to flip through Bahi Khata, simply a click and your bill will be sent directly to the customer with a payment link that helps you avoid any sort of payment delays and improper cash flow statements.  

We believe business has a wide scope be it growth or problems! 

But with such an innovative approach and strong shoulders that are ready to take the responsibility of solving the hardship with technology that sounds simple to the users. 

If there’s a place for business innovation, there will always be a space for BharatBills in the room!

What does billing software can do for you? 

By using the best billing software, you can maintain your stock and use the gathered information to determine the ways to improve your inventory. Billing software assists you by giving you clear visuals regarding sales, even when you are not at the store. Some major gains that you can have by using billing software for your retail shop are listed as follows:

1. Tracking inventory:

Inventory tracking helps you avoid scarcity of stock, you can buy new items according to the demand, and ensure that all items stay in stock. It will help you provide a better experience to your customers because you’ll never run short of stock. Another advantage is that it’ll help you avoid buying random items and will save space in your godown for keeping more substantial stock.

3. Eliminate human blunders:

The most crucial part of any business is billing and hence you might need a little assistance with the calculation of bills along with tax rates and discount deductions. The manual calculation of bills will be needing a lot of attention and still can’t guarantee error-free bills, here’s when you need to be sure about your calculations. Billing software leaves no space for errors in the room and automatically generates error-free bills for you in a matter of seconds. 

4. Improved efficiency with automation:

By using billing software for a retail shop you can eliminate manual work to an extent. Billing software helps you avoid the field of data entry errors, plus you can always automate your tasks to make business processes much simpler. For instance, payment reminders to your customer will help you get your payment much faster than before. The more efficient your work looks, the more gains you will make. 

5. Broaden your business:

You might be wondering how billing software can add to expanding your business?

While you plan to expand your business, you’ll be needing help regarding sales overview. Here’s when a billing software helps you with various reports that you can use to analyze your growth and plan for business expansion. Moreover, these reports will help you understand the customer’s behavior, and make a marketing strategy accordingly. 

Conclusion:

Billing is the backbone of any retail business and billing software can help you take your business to newer heights. One such billing software for a retail shop is BharatBills!

BharatBills allows you to keep track of all the business operations from anywhere. It ensures the smooth running of the business by reducing operational costs. The benefits of billing software are in excess and if you don’t want to lose out on these, try billing software for retail shops today! 

Why implement billing software? 

The growth and success of any organization are followed by the completion of projects and various other related activities on time. The growth is interrelated with a lot of factors like proper advertising, pitching, and simplifying the billing process. Hence you need a reliable solution for effortless billing processes. To achieve growth and success, businesses should complete their projects, workloads, or activities on time. This requires them to implement a smooth billing process. They can easily record and track invoices effortlessly, check expense reports, and perform basic accounting and calculations with ease.

There are a lot of reasons why you should invest in billing software, describing some of them below:

If you face consistent payment delays

You should think about investing in billing software if you face regular payment delays from your customer’s side. A customer might delay your payments because he forgets or runs short of cash or want to stretch the bill for long with these excuses. Billing software assists you in keeping these excuses away by providing you with payment gateway integration that lets the customer pay through UPI and running out of cash won’t be any reason anymore for the delayed payment. 

If you struggle with calculations

Another reason why you should look into implementing billing software is error-free calculations. You have to agree calculations are not for everyone, and if you are the one that struggles greatly with calculations needs assured assistance. Billing software generates invoices in a matter of minutes that too with no errors. Days are gone when you had to think about the rate of GST and type for the inter-state or intra-state transactions. Billing software automatically creates the invoices with accurate GST rates within a few minutes.  

If you can’t find the data on time

Misplaced data is another reason for a lot of organizational troubles. Imagine the life when all your needed data stays safe at a place and is available to you in no time whenever required, sounds dreamy right? Billing software makes this dream and the data available to you. You don’t have to scroll through various previous bills or “bahi khata” to generate the invoices, all you need is a smartphone and a will to grow your business along!

If you miss orders because of a shortage in the stock

The reason for choosing billing software is in bulk you just need to make the smart choice for the one that fits your needs. You might face a drop in sales because of a shortage of stock, this can be managed well by keeping the track of your stock timely. Never ruin a deal because of shortness in stock, get a complete report of inventory with a few clicks right from your billing software.  

If you want to reduce manual efforts and errors

Reduced manual efforts and automation attract everyone around, doesn’t matter if you are tech-savvy or even a layman for the same. BharatBills is one such billing software that satisfies your every need related to billing, create a free demo account to explore all the features of BharatBills.

Features like payment reminders, multiple location access, and ease in billing could make you a little confused about the choice for the best billing software. You can have a look here, how to choose the best billing software out of many, and if you still feel it hard BharatBills is one call away! 

Ease in invoicing

While choosing the best GST billing software, check how smoothly the basics of billing software are being done. The very prime objective of billing software is the creation of invoices with an instant. GST billing software taking more than 5 minutes for billing is a massive fail and there will be no point in making invoices with the technology if it doesn’t serve the required ease in invoicing.  

Integrations in GST billing software   

Another feature that you need to consider while selecting the best gst billing software is its integration with other parties. As a business owner, you want your customers to pay you on time to avoid the imbalance of cash flow, a billing software if integrated with a payment gateway and SMS/ WhatsApp would be an absolute win in such a case. Customers cannot come up with any excuse of no cash as they can pay you instantly through payment gateways. SMS integration will let you send automatic payment reminders automatically. 

Data security of billing software      

Losing data is a nightmare for anyone dealing in the management of data. What if the complete data crashes away? Data security is another major concern of any business owner, no one wants to lose everything and start over again. The billing software that assures data security is the one that deserves your investment. There are cloud-based GST billing software that places your data in cloud-based servers (highly known for their security purposes)  

Customer support of the billing software    

Digitalization in business brought a lot of troubles for non-techy people, how your service provider reacts to your problem while using the products says a lot about their products. Don’t get blindfolded with sweet promises, make sure your service provider is providing the same level of support as in the beginning. 

Ease in Non-availability of the system

We have to agree to the fact that we are not working 24*7 in front of our laptops, what can you do in case of non-availabilities of a system? There is billing software that comes with mobile billing apps. You can create, share or track the invoices right from your phone. There’s no such thing that cannot be done in this digital era and if it is billing, it is easy than ever! 

These were some of the points that you can consider while making an investment in GST billing software, BharatBills is one such GST billing software in India that covers all the aspects of being the best, you can make the final choice by taking a free demo today. Check out more GST-related blogs here,

Happy reading!

BharatBills GST बिलिंग सॉफ्टवेयर के कुछ लाभ:

तेजी से बिल बनाएं:

किसी भी दुकान के मालिक की सबसे पहली चिंता क्या होती है?

बिल बनाना।

भारत में GST बिलिंग सॉफ्टवेयर होने के सर्वोत्तम लाभों में से एक बिल -प्रक्रिया में आसानी है। सॉफ्टवेयर आपको जल्दी से बिल बनाने में सहायता करता है और बिल के कारण क्लाइंट द्वारा किए गए पेमेंट में देरी की संभावना को कम करता है। बिलिंग सॉफ्टवेयर आपको QR कोड के साथ कागज और पेन वाले बिल की तुलना में तेजी से बिल बनाने में मदद करता है। आपको केवल एक खाते के लिए रजिस्टर करने की आवश्यकता है और आप कुछ ही समय में पूरी तरह से आसानी से बिलिंग कर पाएंगे। 

डेटा सुरक्षित करें:

क्लाउड-आधारित सर्वर डेटा सुरक्षा के लिए अत्यधिक जाने जाते हैं। भारत में GST बिलिंग सॉफ्टवेयर ऑनलाइन और ऑफलाइन दोनों मोड में उपलब्ध है। ऑफ़लाइन GST बिलिंग सॉफ़्टवेयर स्थापित होने में थोड़ा अधिक समय ले सकता हैं। ऑनलाइन बिलिंग सॉफ़्टवेयर आरंभ करने में आपके कम से कम 5 मिनट लगते हैं। एक विकल्प होने पर, भारत में क्लाउड-आधारित ऑनलाइन GST बिलिंग सॉफ़्टवेयर के साथ जाएं क्योंकि डेटा क्लाउड-आधारित सर्वर में इकट्ठा होता है जो आपको आपकी डेटा सुरक्षा के बारे में आश्वासन प्रदान करता है। 

सरकारी पोर्टलों में बार-बार लॉगिंग से बचें:

ई-इनवॉइस की शुरूआत ने बहुत सारी परेशानियां पैदा कीं, व्यापार मालिकों को बार-बार सरकारी पोर्टलों पर लॉग इन करना पड़ता है जो कि कुछ लोगों के लिए कठिन है। BharatBills GST बिलिंग सॉफ्टवेयर आपको उन सरकारी पोर्टलों से बार-बार बचने में मदद करता है। चूंकि ई-वे बिल और ई-इनवॉइस अनिवार्य हैं, आप अपने GST बिलिंग सॉफ़्टवेयर के साथ इन ई-वे बिलों को आसानी से बना सकते हैं।

तेजी से पेमेंट प्राप्त करें:

कभी-कभी खरीदार पेमेंट करना भूल जाता हैं। BharatBills GST बिलिंग सॉफ्टवेयर इस मामले में मददगार है क्योंकि यह ग्राहकों को पेमेंट लिंक के साथ रिमाइंडर भेजता है जिसके माध्यम से वे नकदी के कम होने पर भी पेमेंट कर सकते हैं। GST बिलिंग सॉफ्टवेयर के साथ, आप एसएमएस या व्हाट्सएप के माध्यम से पेमेंट रिमाइंडर भेज सकते हैं और अपने ग्राहकों द्वारा तेजी से पेमेंट प्राप्त कर सकते हैं।

आसान कैलकुलेशन करें:

उन विशाल GST कैलकुलेशन और उनकी कमियों से बचने के लिए, आप कुछ ऐसा करें जो आपको 100% सटीकता प्रदान कर सके। इसके लिए आपको आवश्यकता है एक बिलिंग सॉफ्टवेयर की। 

BharatBills GST बिलिंग सॉफ्टवेयर बहुत सारे लाभों के साथ आता है लेकिन बिना किसी गलती के GST कैलकुलेशन उनमें से प्रमुख है, आज ही अपने लिए सबसे अच्छे GST बिलिंग सॉफ्टवेयर का चुनाव करें। 

BharatBills भारत में एक ऐसा ऑनलाइन GST बिलिंग सॉफ़्टवेयर है जो आपकी सभी परेशानियों के लिए समाधान प्रदान करता है, जैसे एक ऑनलाइन बिलिंग सॉफ्टवेयर सामान्य स्टोर के मालिक के लिए सबसे उपयुक्त है, वैसे ही यह एक रेस्टोरेंट मालिक, एक क्लॉथ शॉप और अन्य व्यवसायों के लिए भी अद्भुत काम करता है। BharatBills एक महीने की नि:शुल्क डेमो अवधि के साथ आता है। 

तो फिर सोचना कैसा? ग्राहकों को नि:शुल्क इनवॉइस अभी भेजें भारतबिल्स के साथ।

What is restaurant billing software?

Billing is complex and hence you need effective online billing software to keep the workflow smooth. By now you know how important billing is for a business, it is absolutely the same for a restaurant. A restaurant owner is preoccupied with a lot of troubles, it feels very frustrating to maintain complete billing manually. A business needs proficiency when it comes to billing and inventory management, here’s when a restaurant billing software rescues you by helping you in quick GST compliant invoice generation, quick payments, inventory management, and powerful reports. These reports help you understand your business a little better because of the clear insights. You can check the availability of stock or last month’s sale right from your smartphone. Let’s understand restaurant billing software with the following features. 

Features of a restaurant billing software

• Data security 

A restaurant billing software stores all your data on the cloud. Cloud is one of the safest storage options out of all. This cloud-based online billing software provides utmost data security, You will not suffer any sort of data loss, for instance, customers’ data with this reliable restaurant billing software. This online billing software can store every possible data from your restaurant, from the contacts of your customers to the complete reports of your restaurant, it serves you the required ease. 

• Powerful insights

Online billing software is meant to eliminate most of the manual efforts. No more manual reports to keep a check on how well your business is performing. A restaurant billing software generates automatic reports and helps you analyze your business efficiently. You can view various reports in restaurant billing software, you can keep a check on your purchase/sales and inventory reports that provide valuable insights about your business. 

• Effortless inventory management 

Inventory management is a struggle in itself, it can either lift up your game or can throw you down in an instant. This restaurant billing software is compatible enough to maintain your inventory, you don’t have to worry about the shortage in your restaurant, you can instantly check your stock here and serve your customers in a better way. You can add the required ingredients and online billing software will let you know about the scarcity of your stock. 

• Error-free billing

A restaurant owner is preoccupied with a lot of stuff, billing is just another way of making things more complicated when it can be automated with ease. Billing is a very crucial part of any business, this restaurant billing software helps you with error-free billing as the bills are calculated with no human arithmetic errors. You don’t have to worry about the GST rates as this online billing software calculates the final amount with GST. 

• Easy implementation

With devastating business hassles and complex implementation of a new system simply drains the user and costs them their valuable time. What is better than a quick implementation? Good online billing software takes care of your complete business without any complexities and delays. A simple restaurant billing software barely takes 5 of your minutes to set up and makes you ready to get started with the effortless billing process for your business.

Benefits of a restaurant billing software:

1. Automate complete restaurant seamlessly

This is the era of automation! From automating your calculations to simplifying your complete billing processes, an online billing software as a restaurant owner is indeed a saviour. One of the biggest benefits of having restaurant billing software is its ease. From invoice generation to further business planning through various reports, you can manage your business completely, all with a single platform that is too effortless. 

2. Saves time and cost

In this life full of troubles if you’ve got 20 mins extra, trust us you are living a good life. Along with the reduced cost of production, time holds another level of importance in any business. Another major advantage of having restaurant billing software is the saved cost and time. This online billing software saves you from long and hectic hours of manual calculations plus the cost of accountant and stationery remains in your pocket. 

3. Ensures effective ROI

Online billing software helps you eliminate your long hours of manual calculation which you can use in the operational part of the business to make it grow. A Compatible online billing software ensures high ROI because of smooth workflow and productive hours with no time and cost wastage, this restaurant billing software enables a positive return on investment for your business resulting in quick growth of your business. 

4. Paperless records in restaurant 

Don’t say you still use papers to keep the records and if you do so, you are probably missing out on the ease served by the billing software. Record keeping is not easy, especially in a business like a restaurant. You have to keep the huge piles of records always available, which is quite troubling. An effective restaurant billing software helps you keep customers’ complete records and do this from your smartphone as well. 

5. Guaranteed convenience for restaurant owner

Who doesn’t like the convenience and smooth workflow? A good restaurant billing software guarantees you the desired convenience, you don’t have to wait for an accountant to generate your bills because you can do that on your own. Not just invoice generation but tracking inventory, sharing invoices with customers, payments receipts, and whatnot, online billing software wins the game every time. The online billing software is so easy to use that even a person with no software or tech knowledge can operate it and get started with digital billing. 

A restaurant billing software streamlines your entire business and enables you to experience smooth business operations. Before investing in restaurant billing software, ask yourself the following questions: 

How easy is it to use?

Any chances of data leakage?

Can you manage it with a smartphone?

How accurately generated reports are?

Once you find a compatible solution that satisfies these requirements, it is the one you should go after.  Welcome the ease and start using an online billing software to automate your business workflows today! 

In this article, we take a closer look at what is GST and the reason why it is making business and taxes simpler and easier

1. What is GST in India?
2. History of GST 
3. The purpose of bringing GST in India? 
4. Advantages Of GST
5. Tax laws before the introduction of GST
6. List of Taxes before GST
7. How has GST reduced the price?
8. What are the new compliances under GST?
9. What are the benefits of the GST structure? 

What is GST in India? 

An indirect tax known as goods and services tax has eliminated the need for all the other indirect taxes in India, such as VAT, excise duty, etc. GST was passed in 2017 on 29th Mar and came into existence from 1st July of 2017.

GST is levied on every value addition, in general words, it is levied on the supply of goods and services. A single indirect tax for the entire country made the taxation system a lot easier and effective. The tax is levied on every type of sale whether it is inter-state or intra-state. Central GST or SGST is levied on inter-state sales whereas IGST is levied on intra-state sales. 

GST is a multistage tax charged on value addition

GST is a multi-stage tax that means it is charged on every stage of the sale from purchasing raw materials to selling them to the customers. In other words, GST will be charged for purchasing raw materials, manufacturing, selling it to wholesalers, selling it to retailers, and the final sale to the customers. Each value addition is subject to GST, which means if you buy raw materials and mix them up together the GST will be charged on the final output. Let’s understand it better with the help of an example. 

Suppose you are a Baker, you purchase flour and sugar for baking a cake, you put it together, the GST will be charged on the baked cake. Now you’ll pass the cake to wholesalers who’ll package it as required, the GST will be charged on these value additions.

History of GST

GST came into the lights from 1st July 2017. It took 17 long years to frame a law, the actual journey of GST began when a committee decided to draft the law, and finally, the GST was passed in the Lok Sabha and the Rajya sabha. PM Vajpayee was the one to set up the committee for drafting the law in the year 2000. Further, in 2004 it was concluded that the GST must be implemented to improve the current tax Scenarios. Years passed by and new amendments were made in the GST then finally GST got implemented on the 1st of July 2017. Check out the image below to know the years and the amendments briefly. 

The purpose of bringing GST in India?

GST eliminated the need for each and every indirect tax that was charged on the goods and services by the central and state government of India. 

The government decided to bring the taxation system under a single roof named GST which further removed the cascading effects of taxes on the prices of goods and services. 

Advantages of GST

• The major benefit from GST was the removal of the cascading effect on the sale. Let’s help you understand what the cascading tax effect is. 
• A cascading tax effect is “tax on the tax”. A customer has to bear the tax on the tax and higher prices as a result. 
• Since the cascading effect was eliminated with the help of GST, the prices of the goods also came down. 
• GST also helped in bringing uniformity in tax processes and allowed centralized registration. 
• Small business owners found it quite easy to file tax returns every quarter online. 
• GST benefited the economy in many ways such as we experienced increased investments and employment with the introduction of GST. 
• It further helped us in taking our “make in India” Initiative a step forward. 

Tax laws before the introduction of GST

Earlier there were many indirect taxes that were charged on the goods and services by central and state governments. Every state had a different set of rules and majorly collected tax in the form of VAT. 

Interstate sales of goods were taxed by the central government and the tax CST was charged on it. There were taxes like entertainment tax, local tax, etc. Both were charged together by the central and state government which resulted in the overlapping of taxes. Let us better understand with the help of an example, 

When goods were manufactured, an indirect tax named excise duty was charged by the central government, further VAT was charged by the state government which resulted in a tax on tax also known as cascading effect as discussed above. 

List of Taxes before GST

• Central Excise Duty
• Additional Duties of Excise
• Additional Duties of Customs
• Special Additional Duty of Customs
• Entry Tax
• Duties of Excise
• Purchase Tax
• Central Sales Tax
• Cess
• State VAT
• Luxury Tax
• Entertainment Tax
• Taxes on advertisements
• Taxes on lotteries, betting, and gambling

Thankfully, the GST has removed the need for all the taxes mentioned above. 

Certain Taxes charged for Interstate purchases at a rate of 2% by the issue and utilization of ‘Form C” is still prevalent. 

It applies to the following non GST goods:

• Diesel
• Petroleum
• Natural gas
• Liquor

Applies to the following transactions only: 

• Used in manufacturing processes
• Telecommunications, mining, or any other power sector
• Resale

How has GST reduced the prices?

As we already know, during the pre-GST period, we as purchasers were paying the tax. In other words, we were paying the tax on every additional value which is known as the cascading effect as discussed above. With the introduction of GST, we experienced a uniformity in our taxation. GST basically integrated the whole country with a uniform tax rate which further improved the collection of taxes and enhanced the economical development of India by removing all non-relevant indirect taxes. 

Due to the cascading effect, the burden of high prices is ultimately faced by the customers as the final consumption of the products is made by the customers. 

Whereas in the present GST regime the tax is paid at a predefined rate. There’s a way to claim the paid tax credit. In simple words, any individual who paid the tax already can claim credit for the already paid tax at the time of filing GST returns. 

The sale price is reduced every time an individual claims the tax credit which further allows the customer to bear lower prices because of reduced tax liability. As a result, customers felt a reduced burden right after the implementation of GST. 

New compliance under GST?

Filing GST online is the biggest win for every business owner as you don’t have to get confused with various taxes apart from GST. There are several other new GST regime that has been introduced, let’s discuss them below: 

Eway bills

A centralized system of Waybills under the name “E-way bills” By GST was launched on 1st April 2018 for interstate sales and from 15th April onwards for intrastate sales. Under this system, the manufacturer or trader can simply generate e-way bills for the goods that are transported from one place to another, smoothly. This system helped tax authorities greatly as this eliminated tax evasion. 

E-invoicing

The e-invoicing system is very familiar to everyone around these days. It was made applicable from 1st October 2020 for businesses with a turnover of more than ₹500 crores in the preceding financial years. The system is finally made available for everyone with a turnover of more than ₹100 crores. 

The business has to necessarily get a unique IRN (invoice reference number) for every B2B invoice by uploading it on the GSTN portal. The portal further authenticates the realness of the invoice and authorizes it with a digital signature and QR.  

E-invoicing helps you reduce the data entry errors as the invoices are operated on their own. It is specifically designed to pass the details from IRP to GST and e-way bill portals effortlessly eliminating the need for manual data entries while filing GSTR-1. 

What are the benefits of the GST structure?

The structure of the GST model is pretty similar to that of the Indian Government. The structure of Government is a dual model, meaning it has ministers on both the ends, state, and centre. This same arrangement can be seen in the case of GST as well. Due to this similarity, both governments will excise GST synchronously. 

Let us look at the four sections in which GST is implemented:

IGST – Integrated Goods and Service Tax

CGST – Central Goods and Service Tax (CGST)

SGST – State Goods and Service Tax

UGST – Union Territory Goods and Service Tax

In contrast with the Service Tax Act 1994, GST is one of the biggest tax reforms introduced by GST because it covers the entire nation, including Jammu and Kashmir. Now we will see what all these four sections are:

CGST

CGST or the Central Goods and Services Tax is a tax imposed by the central government on local goods and services provided within the state. CGST is the first tax to be set off against, followed by the IGST input tax credit only as a second. The Central Government shall transfer the amount collected under CGST. A product or service’s Central Goods and Services Tax rate will be equal to its Special Goods and Services Tax rate.

SGST

SGST or State Goods and Services Tax applies to both goods and services provided within a state. In the case of SGST, the taxable amount will be offset first by the SGST or UTGST, then the remaining amount can be set off against IGST input tax credit. State governments use the tax collected under SGST to run their operations. CGST rate for a particular product or service shall equal the State Goods and Services Tax rate.

UTGST

UTGST or Union Territory and Service Tax is a tax on intrastate goods and services imposed by the Government of Union Territory. First, the UTGST is offset by the IGST input tax credit. The balance is offset by the UTGST. As with the SGST, this tax also has the same concept but is only applicable in India’s Union Territories instead of the rest of the country. The government of the Union Territory gets the amount collected under UTGST. In the Union Territory, the Goods and Services Tax rate on a particular product or service shall be equal to the CGST rate.

IGST

IGST or Integrated Goods and Services Tax is imposed by the Central Government and is excised on both services and goods outside the state, unlike other taxes, in other words, the interstate imports. The tax owed under IGST will be offset against the IGST in the first instance with the remainder being set off against CGST and then against SGST/UTGST input tax credit. IGST is collected by the Central Government and then shared with the rest of the state governments.

For more information read or check out our articles:

Top 5 Billing Software for Businesses in 2023

What is an e-way bill and who generates it?

What is an Invoice Template And How Is It Beneficial For You?

Before creating invoices you need a defined invoice format of the bill. BharatBills helps you in selecting the perfect invoice format for your business. BharatBills is a GST billing software that comes with free invoice templates that you can use to create invoices for free. 

Benefits of using an invoice template of an online billing software

Using an invoice template can serve you a number of benefits such as reduced cost and time in generating invoices and sending the invoices directly to your customers in no time. You can easily get your payments from late-paying customers with online billing software. Some of the benefits are discussed below: 

Saves you valuable time

As a small business owner, your prime focus should be on the operational part and not on invoice generation. An already defined invoice format or invoice template will help you create invoices effortlessly as you just need to make a few edits before sending the final invoice to the customer. With online billing software, you can create invoices in no time as calculations of GST are automatic, you don’t have to spend hours calculating the final amount. This is exactly what convenience looks like in terms of creating bills.

An online billing software cut down your cost

An online billing software cuts down the cost of stationery and of course the accountants. No one’s perfect, if you struggle with calculations and billing, you might need a little assistance. You don’t need to ask your accountant for creating a basic invoice instead go for online billing software that does its job efficiently and presents you with error-free calculations of taxes in no time. Say goodbye to the stationery and accountants for basic billing, create, share and track your bills with BharatBills free invoice templates. 

Personalized invoices with online billing software

A real and genuine bill is what we call the authentic touch that might be missing in your paper bills. An invoice with clear formatting and fewer words looks nice and authentic, you can add your touches like your company’s logo, digital signature as well to make it look professional. An invoice template helps you create more authentic bills than ever before that you can use at the tough times of seasonal sales when it becomes quite uneasy to deal with.

Analyze and plan with a GST Billing Software

Planning is a must for pitching the sales and driving big profits for your organization. Analyse and plan your sales period effectively with a GST billing software.
A GST billing software provides various reports such as sales report, purchase report, GST return reports, inventory report and financial report. How good was your last sales cycle? What did you do to get those results? Plan what worked best for you in the past and implement the same in the near future. 

Save time and focus on the operational part

Are you still occupied with the paper and pen work? Preparing bills with accurate GST calculations is time consuming. If you struggle with the paper bills and can’t focus on the planning and operational parts, here’s when you need a GST billing software. 

A GST billing software eases your work by preparing invoices in no time with error free calculations so that you can focus simply on the strategically important parts of your business and not invoice creation. 

Avoid delayed payments with a GST Billing Software

For what we are doing this all?
The finance!
Maintaining sales is easier than driving results from it, delayed payments is one of the reasons why business men suffer and feel less motivated than ever. Delayed Payments can hamper the cash flow of the organization which ultimately will ruin the financial accounts. A GST billing software helps you to collect your payments on time because it offers multiple options to pay as these GST billing softwares are integrated with various payment gateways and also helps you in reminding the customers through quick payment reminders.

Update your stock with a GST Billing Software

Sky high sales period needs your high attention, keep yourself updated. Whether it is about the reports or inventory. A GST billing software helps you keep a check on your inventory so that no shortage can be faced at the time of urgency. 

Losing a customer in seasonal sales can hamper your process of mastering the period hence, it is important to keep your stock updated and never let your customer walk away because of the stock scarcity. 

Find a GST Billing Software today!

Now finding an appropriate GST billing software can be back breaking, you probably are thinking why you need a GST Billing Software as a small business owner? A GST billing software smoothens your business processes and helps you achieve desired results within a given time frame. Get your business a GST billing software today!