Why you need to Implement ERP System for Taxation?

GST is imposing financial charges on individual or company by central government or state government. Collected GST amount is used for building nation (infrastructure & other development), to increase arms and ammunition for defense of country and for other welfare related work. Thats why it is said that Taxes are paid nation are made. But Our Tax system still Siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort thereby aborting our recoveries and stifling our national growth rate. That is why ERP Implementation with GST will ease out your tax issues.

ERP Implementation with GST

Our Tax engine is designed to work with your financial applications which seamlessly determining the correct rate and calculating behind the scenes. Operating as an integral part of your existing financial or accounting system, Our ERP Software automatically calculates taxes for sales, purchases and rentals.

Project Management

Valuation of the services provides the methodology of arriving at the service amount on which the applicable Service Tax to be charged. Expenses or cost incurred by the service can be deducted from the total service charge to get the taxable amount. While you pay Service Tax on sale of services that come under the Service Tax Category, you can adjust Service Tax credit on purchase of services. The difference between the Service Tax that you have to pay for selling services and the Service Tax credit on purchases that can be adjusted comes under the payable Service Tax. You can easily draw a plan to develop your business from the point of taxation with the help of our ERP Software

System Integration

ERP Implementation with GST will assist you in submitting the provisional assessment memorandum for any month or quarter. It will provide the details of difference between the provisional amount of Service Tax deposited and actual amount of Service Tax payable for each month along with the half yearly return. These services involve integrating Tax Systems with a client’s ERP or financial system using off-the-shelf adaptors.

Advantages

• Complexity of tax calculations can be greatly reduced
• Time spent on Tax Compliance can also be minimized
• Improved Accuracy can be achieved
• Manual approximation can be avoided so that the risk is lowered
• Your Data can be fully secured
• Automatically reminds you the tax Payable date
• Facilitates the easy Online Tax Payable method
• Completely secured PayPal gateway is ensured
• Easy Data Sharing only for authenticated Users
• Automated Data flow enables importing the data
• Easy preparation and generation of data to export
• Tally up the Sales and Real time Tax Data considering the expenses

Note:

• You can avoid tax penalties
• Get Helpful Tax reducing tips and tricks from our Experienced and well qualified Reach Tax Team to save money for the financial year and future

Tax Classification

Every Government levies taxes on the following: ,

• Income Tax: Tax on income of a person
• Customs duties: Duties on import and export of goods
• Central excise: Taxes on Manufacturing of dutiable goods
• Service tax: Taxes on provision of services

Based on the Type of Classification selected in the ERP Software type of Service will be defaulted (displayed). By default, Input Credit is displayed.  ERP Software provides a facility to record sales order and purchase order for the services and to calculate Service Tax amount in the Purchase or Sales order. Purchase Order for Services may be with or without stock items. ERP Software supports to account purchase orders with or without stock items. Our bird”™s eye view of taxation structure provides your account details in an easily understandable format.

I always Suggest Clients to Try out some ERP Software to compare the best fit for their business or you can check on ERP comparison tool or Listen to what Leading  Business Persons say about their ERP Software

If you want to know how this works, You can fix a online demo from >>> Meet Us

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Sumathi

I’m a tax expert with over 10 years of professional experience. I’ve gained practical insights on GST and other Taxes during my tenture as a Tax expert and GST Trainer in Reach Accountant.