GovReports Reviews

GovReports Description

This report is suitable for businesses that use an ERP or accounting system without GST reporting or electronic filing functionality. If your system doesn't have GST, or a current tax system, you can create a GST report for electronic filing. If you are using customised or ready-made software, upload tax invoices in XML and CSV file formats for eFiling. The Indian GST regime will be in effect as of July 2017. Every taxpayer must report GST collected and paid at minimum three times per month if their annual turnover is greater than Rs.5 million, and quarterly if their annual turnover is less than Rs.5 million. It will be difficult for businesses to comply with the state-based registration and cost center for state-based assessment. The current system is not designed to support digitalization and to match data.