GST Accounting Software and Enrollment in India

GST Accounting Software and Enrollment in India

The discussion concerning GST has heated up and the struggle for the implementation of the same has been for too long. It was then, 3rd August 2016, when GST came into limelight; the Upper House of the Indian Parliament finally welcomed the GST bill in India and a new chapter in the Indian Economy was introduced. The government of India is committed towards bringing forth GST in the mainstream. Amidst the hustle bustle going around the nation, GST can be a game changer for the Indian Economy, certainly affecting the “Aam Aadmi” to the Business Entrepreneurs as well. The Constitutional Amendment Bill, expected to be passed with effect from 1st July 2017, has been a scorching topic for discussion amidst the political parties off lately. With a strong pushed voice by the industry, we soon can witness India following the path of “ONE NATION ONE TAX”.

After Demonetization, you can consider GST as one of the biggest transformations that India has seen in years. From FMCG, E-commerce, Telecom sector, Automobiles sector, procurement, supply chain, IT, logistics, pricing, margins, working capital, IT sector, etc. We always end up paying heavy and multiple taxes that are levied by the varied sectors inclusive of travel, tourism and hospitality industries; but under GST the scenario is going to change and the supplies of highly-taxed industries will be subjected to a Unified Tax Regime.

29 States under one Umbrella!

29 States under one Umbrella

A unified market, de-shackling from the complex Indirect Tax Structure, that subsumes majority of the indirect taxes in India reshuffling India’s highly complicated tax structure (taxes levied on goods and services by the Centre and States).

If you are amidst those who can’t figure out that whether GST is a boon or a bane! Then, let me give you reasons to appreciate our Government’s decision of passing the Law. Scroll down for more!

  • Elimination of Double Taxation

“No Tax on Tax”, this would be the most favorable and exemplary change under GST, elimination of tax on tax. No need to pay double taxes that becomes much easier for the end user as well. Why bothering about so many indirect taxes, when GST is here for our rescue! GST will make space for itself with the elimination of 17 Indirect Taxes that will directly reduce the compliance costs.

  • Sorted Tax Structure

The current scenario of paying taxes and dealing with the taxation system is highly nerve wracking. Sorted Tax Structure is one reason that makes us to appreciate GST even more.

  • Easy Startup

Dealing with VAT regulations, registrations while starting up a business or in case you have registered in a different state will make you register as per the state’s respective tax rules; this can prove to be troublesome. While looking at another side of the story, we can see GST that is ready to solve this challenging issue, with the introduction of GST Accounting Software. This will make industrialists to register in other states with ease.

  • Single Business - Single Tax for Sales And Service

In case your business have both sales and service, then get ready to discard all the procedures you used to follow while calculating and filing Tax. GST says no to separate taxes; only a total amount will be taken as final payable tax.

  • Trouble free Tax Filing and Documentation

Tax Filing and Documentation have always been a matter of concern that gives chills down the spine and the reason behind this is the complicated Tax Structure it involves. In such case, GST is a bliss that will reduce our stress and pain while filing and Documentation.

  • Fall in the Logistics, Inventory Costs

Another best part of GST implementation is the introduction of the Border Taxes, in turn making the interstate movement of logistics, import & export much cheaper, simpler and convenient.

  • Transparency in GST

With the implementation of GST, consumers would know exactly whether the consumed goods are subject to cost. Hence, complete transparency is maintained throughout.

Eliminating the trails of Existing Tax Structure in the new GST establishment!

When President of India gave his consent for the Amendment bill for Goods & Service Tax (GST), Government of India was all set to change the way India pay Taxes. With a comprehensive and broad base, GST will discard the all the indirect taxes levied on goods and services by the Centre and States.

And, here GST Accounting Software came to the rescue, “Introduction of GST Bill made GST Accounting Software evident for businesses in India”. To cope up with the changing scenario of how India pay taxes, GST Accounting Software acts as a bridge between the new and the existing Tax Structure. Knowing the fact that GST has attained a considerable momentum in the industry, GST Accounting Software has become a need of the hour. Or in other phrases, saying “GST Accounting Software – “Enroute Indian Financial System” would be apt.

GST has left everyone inquisitive about the substantial changes that it may bring. The emerging consensus in the industry shows how, even before the implementation, GST has marked its footprints in the market and wavering around making headlines inexorably. So without exaggerating, let’s dwell through another perspective of GST that includes GST Ready Business Software and Enrollment in India.

Why GST Accounting Software?

Why GST Accounting Software?

Be it Accounts, Finance, Journal, Contra, Ledger, Inventory or Tax Computation, GST Accounting Software is exceptionally apt to do these in any business. Mostly all organizations including Small, Medium and large enterprises require a GST Accounting Software that will be responsible for maintaining records of Taxation electronically that you do. Getting involved with GST Software will magnify your paying details i.e. where your income is going and, what are you paying for? The painful process of going through varied forms, filing it, examining it again and again, submitting them will be eliminated, once GST is implemented.

Some of the attributes that makes GST Accounting Software stand out from the crowd are:-

  • Reduction in the Cost, Time and Manpower

Management of Time, Cost and reduced manpower is something that can improves the business by leaps and bounds. GST Accounting Software is a great replacement that will discard the ongoing tax structure but will help in reducing the manpower as well.

  • Improves the Quality Of Work

Making use of GST Software will also lead to the better productivity and faster completion of work and that too in lesser time. This gives a better business process and provides you with details of your business that you can easily access.

  • Manages the Data Well!

Creating Bills & Invoices compliant with GST, Preparation of GST Returns, Making GST Payments, Extracting General Audit Files Compliant with GST, Inventory Management, Reconciling GST Supplies, GST Accounting & Project Management

GST Ready Business Software for Whom?

Here is the list of Small Manufacturers, Businesses, Small, Medium and Large Enterprises who can make use of GST Accounting Software and get rid of the complicated taxation system with super ease.

GST is commendable for Packers & Movers, Automobile Dealer, Consultants & Free Lancers, Rentals & Transportation Business, Startups inclusive of E-Commerce Businesses, Electronics and Spare Parts Dealers, Wholesalers & Distributors, Takeaway Businesses, Importers & Exporters, Café & Bakery, Diamond Traders, Furniture Showrooms, Textile Stores, Jewellery Store, Workshop Management, Manufacturers, Job Work & Contractors.

Now, Flipping the coin, let’s have a look at another, equally significant, side of GST i.e. GST Enrollment!

GST Enrollment in India

Enrollment for GST in India

While GST is still making its way to India Financial System, another matter of concern is the Enrollment for the same. GST Common Portal is made available, that will be used by the existing taxpayers for the enrolment under GST to validate the previous data, simultaneously filling some additional fields in the Enrolment Application itself. The migration to GST has already been started and, temporarily it has been discontinued by CBEC; still a large section of the society is left behind for the same.

But have you thought of the advantages of registering under GST? If not, then go through the below mentioned on point details that will make you register under GST as soon as possible.

Points to Ponder:

  • No paper based enrolment
  • Working on GST Common Portal makes it easy to work
  • No fees or charges are levied for registration
  • Legal Recognition by Government
  • Common for all taxpayers registered under Centre, State or Union Territory Tax Acts
  • Common registration, return and Challan for Central and State GST.
  • Complete and proper maintenance & accounting of the Taxes paid for the goods and services.
  • Liquor dealers registered under VAT are not required to migrate.

The Enrolment Process:

Login to the Portal: Log on to ACES portal using the existing ACES User ID and Password

Obtain the Provisional ID & Password: Either follow the link to obtain the Provisional ID and Password OR navigate using the Menu

Fill up the Next Section: Keep the Provisional ID and password that is provided. In case a Provisional ID is not provided, please refer the Next Step section.

Post Obtaining ID & Password: Logon to the GST Common Portal with the your ID & Password followed by filling the FORM-20 that has made available (for reference keep an eye on the instruction manual)
*Helpdesk 1800-1200-232 or email at

Substantial Information:

* Assessees having a valid PAN associated with their registration will be able to generate valid Provisional IDs.

* Cases where No Provisional ID is generated:

  • PAN associated with the registration is not valid
  • PAN is registered with State a Tax authority and Provisional ID has been supplied by the said State Tax authority
  • Multiple CE/ST registrations on the same PAN in a State: Here only 1 Provisional ID would be issued for the 1st registration in the alphabetical order provided any of the above 2 conditions are not met.
    • Assessees are required to logon to the GST Common Portal using use this Provisional ID & Password to fill & submit the Form 20 along with compulsory supporting documents.

Before Registration, get ready with the Information and Docs!

With the below listed documents, you will be all set to register under the GST Common Portal. Have a glance!

Information Required:

  • Valid Mobile Number
  • Bank Account Number
  • Bank IFSC
  • Password received from the State/ Central Authorities
  • Provisional ID received from State/ Central Authorities
  • Valid E-mail Address

Documents Required:

  • Proof of Constitution of Business: –
    • Proof like Certificate Of Incorporation, Partnership Deed, Memorandum of Association (MOA) /Articles of Association (AOA)
  • Proof of Appointment of Authorized Signatory (PDF & JPEG Format in maximum size of 1 MB)
  • Photograph of Authorized Signatory (JPEG format in maximum size of 100 KB)
  • Opening page of Bank Passbook/Statement containing Bank Account Number, Address of Branch, Address of Account Holder & few transaction details (PDF and JPEG Format in maximum size of 1 MB) or Cancelled cheque
  • Address proof in case of partnership firm or List of directors with their identity and address proof in case of company

Much has been sorted out about GST regime by our government and undeniably, GST will surely boost Indian economy, in turn increasing the resilience of tax revenue in no time. The inclination of our businesses towards GST is an indication that it will add another feather in our crown. Indian Government is striving hard to make it a success and a give relief to a large section of society. So, put on your thinking hats and get your hands on GST with complete information along with prior registration on Common GST Portal.


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