Important Features To Look in GST Software in India | H&R Block
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Major Features To Look For in GST Filing Software

features of gst software

To reach heights and succeed as a programmer, we need to dive-in completely into the pool of ‘Programming Culture.’ This field is so vast that boosting our skills to get updated by absorbing so much of information, it is an full-time job to be in the loop.

While I am writing this, I recollect one of my friend’s experience where he was working on five hours of sleep and there was a typo in the coding which got included in the final program. When the system went LIVE, you can only imagine the kind of impact a typo had created in the final output.

A silly mistake or an error in a software can affect its entire functioning system.
Similarly, when it comes to GST software, there are certain aspects or the key features to look out for to simplify the GST tax filing process.


Why to Buy GST Software?

After many years of planning and debate, GST was introduced with many expectations and it is believed to create major changes to the existing Indirect System of taxation.

Unlike the previous regime, which did not require the uploading of invoices when filing returns, to avail of input credits, during the GST regime, it is mandatory. Also, if the filing of returns is not done or delayed, a taxpayer would face interest penalties as well. The use of GST software, ensures the details captured in every invoice are verified and processed, so that the thousands of taxpayers can avail of input credits.

An error free and reliable software, that follows GST rules, is required to assist the tax payer at various stages like data import, return filing, invoicing etc. In the absence of a good Accounting Software, there will be failures in the business unit along with an effect on its operations. It’s advisable to look out for a relevant accounting software depending on the nature of thebusiness as every business is different.

Key Features to Look Out For GST Software

Let’s throw some light on the important aspects or points to look for in GST software that would ultimately be useful for business units, tax payers, etc. Small/large-scale units or Entrepreneurs or Vendors can concentrate more on business due to automation

  • Import Tally Data from previous systems and other third-party systems
  • Security feature that will protect confidential business information which is robust in both tax filing and data security feature
  • Invoicing, Accounting and GSTN validator
  • Easy automatic Reconciliation and notifification of mismatches
  • Capability to prepare Ledgers, P&L and Balance sheet after uploading the Invoices
  • Should be able to file returns of multiple clients through longer sessions instead of having to log in multiple times.
  • User Friendly interface with step by step process that allows to navigate back and forth (excel like interface).
  • Flexibility in integrating the existing systems with the new application (GST Software) and provide a seamless experience

Drawbacks of GST Software

If we must talk about drawbacks that reduce the chances of success in a business by opting for a software to file GST returns with less manual intervention, here comes certain unfavorable conditions or inconveniences. As they say merits and demerits go hand in hand.

Budget is one of the most important part of any business that influences the decision-making process. Online software’s, have a recurring cost and are inexpensive. Offline software can be purchased by paying a one-time price which is quite expensive. Also, to receive latest updates, one must pay annually or at regular intervals.

A business should make certain technical changes or preparations which may not be present in their existing system like LAN facilities, investment in server to use multi-location facilities etc.

There is a possibility of Data theft when we buy a third-party software and most importantly the software could be susceptible to Hard-disk crashes. This would be a huge loss to the business. The software versions need to be continuously upgraded to get the latest benefits and having an Anti-virus software plays a key role. There will be no fixed price rates. Also, the software’s may lack key features and customization to business specific options may not be available.

The dream of achieving “Digital India” is not too far when we come across various GST filing methods that are adopted like paperless transaction, hassle-free tax filing etc. Also, businesses are encouraged to execute various compliance related activities themselves along with providing such support to their clients as well.

GST Software can play a dual role of being beneficial (through automation) and at the same time can create huge unrecoverable losses (through system crashes) to a business.

Without having to spend any more time in doing research or stretching the budget to get software or to avoid any chances of loss, you can take advantage of using the services offered by H&R Block India for all your GST related requirements. You can carefully plan by taking necessary steps with the help of our gst tax experts at H&R Block India.

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CA Ankita Mathur
CA Ankita Mathur
Ankita, a Big 4 alumna, is a tax expert at H&R Block (India) with vast experience in managing GST-related business services. An avid traveller, Ankita is a regular contributor to the CAclubindia and loves helping people understand about GST and helping companies be GST compliant.