GST Ready POS Software

GST TAX Filing Start from July 1, 2017, government of India introduced a completely new taxation system for all businesses.

At Hyper Drive we provide your business management solutions and hence we have come up with significant modification in all our business management products to help you implement GST. In some areas of GST tax return filing which come out of the scope of our product functionality. And there are multiple areas which we implement with various detail levels in our products.

In this blog, we are trying to explain to you how our products implement different aspects of GST. Please note that our discussion is purely based on our product functionalities and how it helps with regards to GST implementation.

This blog is not about for complete understanding of GST taxation and how to implement your business.

Asimot provide you with GST implementation for your business

NO GST: This option is specifically for our international customers or any other customers who wish to not specify any data in the system specific to India GST.

With GST: This option is specifically for GST customers or any other customers who wish to specify the data in the system specific to India GST tax returns ( this is the default setting).

GST: If this option is selected you can able to complete any transactions that will fulfill basic GST requirements either based on business Percentage such as Ex: 5% 18% etc……

Establishing Tax structures as per GST setting

A government of India requires you to do the business transactions in different ways while you are in-state business transactions against when you are doing out of state business transactions.In other words, while making sales to a customer within your state you need to collect CGST and SGST as sales tax from that customer against if the customer was in a different state than your state you need to collect IGST from the customer as sales tax. Moreover, you need to report this tax collection properly to the government at the end of every month. This task of collecting different types of taxes and doing the correct tax reporting can little daunting and powerful.

In order to make this tax definition and collection accessible for you, we have provided a tool for our application which will allow you to create most commonly used tax structures in a single click.
Once these tax structures are defined you need to discuss your tax advisor to find out what tax brackets the items you are doing business with fall under. With that knowledge, our applications will make it very simple for you to make India GST compliance invoice.

Operating In-state and Out-State transactions

For GST implementation Govt. of India has assigned a unique numerical number to each of the geographic states and it is mandatory under GST to specify these state codes as the place of quantity during all your investments and sales activities.
In order to help you implement this correctly all your business locations, You will need to enter correct state and its code as specified by GST, by government of India

If you are doing any out of state business you can choose to configure our products do not ask you foray out of state-related data entry. This will help you overcome your data entry complexities and practice requirements.

If you are doing in-state as well as out of state business you will need to enable settings in the configuration of our application which will allow you to specify out of state transaction related data.