NEW DELHI: GST Network (GSTN) on Tuesday stated it has started providing unfastened accounting and billing device to MSMEs with annual turnover of as much as Rs 1.five crore, which would receive advantages about 80 lakh small companies.
This device would assist companies create invoices and account statements, arrange stock and prepare GST returns. The stated device is to be had beneath 'Download' tab on the official GST portal www.gst.gov.in, GSTN stated in a observation.
"GSTN has partnered with eight billing and accounting software vendors for providing software to the micro, small and medium enterprises, with annual turnover under Rs 1.5 crore, in a financial year without any cost to such taxpayers," the observation added.
Almost 80 lakh MSMEs with turnover of less than Rs 1.five crore could receive advantages, it added.
The device suppliers be offering elementary features like sale/ purchase/ money ledger, stock management, provider/ buyer masters, era of invoices, preparation of GST returns without spending a dime, while for services and products like further feature like bank reconciliation, account receivable could be chargeable.
GSTN leader govt Prakash Kumar stated the move will assist MSMEs to move against virtual gadget in order that their potency can also be improved and their compliance burden can also be lowered.
"Such taxpayers are nearly 80 per cent in number under GST regime and thus this step is going to benefit a large number of taxpayers. GSTN on directions of GST Council has identified eight vendors to provide the accounting and billing software without any cost to such taxpayers," Kumar added.
The GST Council had in January licensed the proposal of providing unfastened accounting and billing device to small assessees as much as Rs 1.five crore turnover.
This device would assist companies create invoices and account statements, arrange stock and prepare GST returns. The stated device is to be had beneath 'Download' tab on the official GST portal www.gst.gov.in, GSTN stated in a observation.
"GSTN has partnered with eight billing and accounting software vendors for providing software to the micro, small and medium enterprises, with annual turnover under Rs 1.5 crore, in a financial year without any cost to such taxpayers," the observation added.
Almost 80 lakh MSMEs with turnover of less than Rs 1.five crore could receive advantages, it added.
The device suppliers be offering elementary features like sale/ purchase/ money ledger, stock management, provider/ buyer masters, era of invoices, preparation of GST returns without spending a dime, while for services and products like further feature like bank reconciliation, account receivable could be chargeable.
GSTN leader govt Prakash Kumar stated the move will assist MSMEs to move against virtual gadget in order that their potency can also be improved and their compliance burden can also be lowered.
"Such taxpayers are nearly 80 per cent in number under GST regime and thus this step is going to benefit a large number of taxpayers. GSTN on directions of GST Council has identified eight vendors to provide the accounting and billing software without any cost to such taxpayers," Kumar added.
The GST Council had in January licensed the proposal of providing unfastened accounting and billing device to small assessees as much as Rs 1.five crore turnover.
GSTN providing free billing software to MSMEs
![GSTN providing free billing software to MSMEs]()
Reviewed by Kailash
on
May 29, 2019
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