GST Software for Chartered Accountants

GST Software for Chartered Accountants


Chartered accountant is a professional accountant who is eligible in order to take number of certain activities in the spectrum of accountancy. Specific tasks include filling corporate tax returns, financial advising, and auditing financial statement and so on. There are numerous softwares which can be measured proficient and good for chartered accountants. Some of the best software of CA includes Gen TDS, Gen com Law, Gen XBRL, Gen GST and Gen IT. These kinds of software cannot be used or different firms because it is mainly used for accounting purpose and chartered accountants may have sensitive information which may become susceptible in order to risk and reveal while sharing CA software to another firm.

    1. GST Software for chartered accountant:

GST refers to the Goods and Service Tax which is an indirect form of taxes that came into force on 1st July 2017. After launching this tax all others goods and service taxation became irrelevant in India. Practically, GST is tax levied on goods and services which are received by the citizens and the comprehensive form of method has from all through India. As per the system of goods and service tax, each point of sales are treated taxable. In respect of intra state sales, buyers will have to pay central and state GST. In terms of technically, GST is multi staged and also it is a destination based charging method at the same time. All the chartered accountants using GST accounting software in order to calculate and inclusion of GST in billings that will be advantageous for retailers.


GST Software:

GST billing software is defined as a “One nation, one law” along with the most recent historic moves taken by the government of India and law of GST has been applicable across the India. It is also termed as the simplified version of complex taxation system in India and it is a well organised form of indirect taxes that charges on goods and services by the state as well as central government. Good and service tax software is a simple or easy to use invoicing and accounting system which aims to supply the requirements of several businesses for tracking G & S Taxes. By the use of GST accounting software effectively, companies can able to manage their finances, accounts, sales, payroll, inventory, purchases, taxation and so many other things as well in an effective and efficient manner. 


GST accounting software:

It is defined as an application or an interface that formulates taxes calculations easy and simple for business owners, transporters, warehouse operators etc. Goods and service tax is to be paid monthly, quarterly as well as yearly on the basis of business turnover. GST billing software helps in calculating amount in an adequate manner and aids in creation of transactions as well as invoices as per the GST format. It also assists in generating and tracking e-way bill that is to be paid while goods and services cross the state borders. It is termed as tax return software which assists in filling returns by calculating taxes and it gives quick, simple and error free calculation of goods and service tax.

(Source: GST return filling automation)

E-Way billing:

It is an electronic form of bills which is generated for smooth association of goods via using E way bill portal. GST registered operator can’t transport their goods in any vehicles whose value exceeds to Rs 50000 as it require possession of legal E-way bills which is authorised through the Now days, there are various technological platforms like tax return software solution, GST software which assist businesses in generating valid bills of E-way. Investment in advanced software of GST return is really a good choice for companies because it enhances the level of operational efficiency through the seamless creation of E-way bills.

How to choose best GST software?

There are several GST solutions are available within the market that should be chosen as per the size and requirements of businesses. Several factors need to be considered before fixing GST solutions for companies that helps in making use of best software. Some of these are discussed below: 

  • Online and offline approach: On the basis of business requirements owner has to choose whether to adopt offline or online GST software. The billing software stores all data on cloud in a secured manner which enables the ease of access. Offline mode does not have regular updates and less secured as compare to online mode. Whereas, online method gets automatic updates on a continuous basis as per the specification or changes which are made by the Indian government and also it facilitate security and backup plan for information’s.
  • Security: while purchasing software the security must be examined and also ensures that information is going to be stored safely or don’t misuse. In offline mode, people should keep in view that whether software is well equipped with latest features in order to minimise virus attacks and hacking.  
  • Features: It is mostly considered while getting GST solutions for businesses in order to check that software solution fulfils their complete requirements or not. GST software should be capable to track business procedures, returns, expenses and divided them into adequate categories and manage accounts along with the inventory and track customers as well as suppliers for the purpose of managing employee’s salary payments.
  • Cost: It is an essential factor that should be considered while purchasing GST software. The prices of software solutions may vary to 5000 Rs to 25000 for single user. So that small businesses will not require using costly software and the price spent on solutions should be best suit the companies and business and should be worth it. 
  • Scalability: numerous kinds of GST billing software are available within the market but business owners must be chosen as per their business size, scale and requirements. It might use for fulfilling all needs but sometimes it will find difficult to manage increasing information and fails to calculate and manage accounts. 
  • Complexity: GST is complicated in itself as it is going to make dreaded tasks of calculation and filling returns procedure. People can always check user interface, easy understanding, and usability of application before buying it. As user friendly software will assist to save extra amount that might be have to spend on appointing chartered accountants. 

Importance of GST software for businesses:

GST software is highly user friendly and used by traders for using several benefits of tax-paying system. Some of the activities that can be effectively managed by GST software are discussed as below: 

  • Buying transactions
  • Discount and schemes
  • User friendly invoicing
  • Management information system reports
  • Extensive financial accounting
  • Billing
  • Taxation reports
  • Utility and inventory management.

Goods and service taxation software in India plays a crucial role in managing several forms of indirect taxes throughout the nation. With the use of GST accounting software, companies, businesses, chartered accountants would be capable to play responsibly by giving timely taxes to the Indian government. Along with this, businesses can able to raise profitability by examining income and expenses in detail. 

Benefits of GST software:

  • Tax filling with better ease: Different kinds of tax calculations, financial management, accounting, billing and filling tax returns can be considered as daunting tasks. Correct tax filings are imperative to businesses in order to neglects unwarranted issues of future. 
  • Management of accounting activities: It is related to the cash and cashless accounting system which allows professional invoicing that are to be forwarded to the users or customers. It will assist in keeping on tracking of receipts and expenditures, paid and unpaid invoices in order to make approximations. Some software also facilitates multi currency support and rates on the basis of products that aids with the debits, credits and sales orders. 
  • Inventory management: Goods and service taxation software allows inventory management of business. It assists to tracking inventory, place orders, send invoices depends on their requirements. This will allow access of stock issue as well as wastages. Some of the software have barcode scanner which aids in managing inventory in easy manner. This helps in making reports such as service, sales inventory, items in inventory report as well as the movement of products report.
  • Taxation management: Tax rates are being predefined, it has to put down products and choose adequate tax rates as well as the software that will assist in calculating all taxes like CGST, IGST and SGST. It also designed in that way which adds some extra rates and fines in order to make tax management easier.
  • Management of payroll activities: It is a system which is very essential to businesses in order to maintain better employer employee relationship. Delays in salary payments and financial settlements that will make better financial condition of company. Software helps in doing automatic payroll along with the all taxes and other added values that assist in making correct and fast invoices.
  • Remote real time management: It is in used by several industries such as retail, automobile, restaurant, apparel and so many. So that the software solution must personalised according to the requirements and price of specific industry. This will assist distributors to classify its sales in retail and allocation of sales and profit approximation, invoices which can be made in the chronological orders for the effective management as well as updates inventory on order bookings for avoiding increasing of adverse stock bills. With the use of real time reports in order to track operations of business, people can able to manage whole workflow from other device from anywhere by using goods and service taxes software.


Different types of GST software in India for different buyers:

(Source: Different type of GST Software in India for different buyers, 2020)

The above diagram shows that there are much GST software which is in used by the chartered accountants and other people in order to calculate accounting and invoices. In the above picture, it can be classified into four categories like small, medium and large business owner and individual service providers along with the respective software that are suited as per their requirements. 


It has been summarised form the entire project that chartered accountant is known as a professional role who works for managing the accounting and invoicing mechanism of every businesses or individuals. They use several software solutions for calculating the goods and service taxation of every businessman but software may be chosen on the basis of the size, nature and scalability of businesses. It gives real time results by managing all activities and payrolls as well as using E way bills in GST. It has also been viewed that there are different software in India for GST that may vary according to the different buyers as these software are different for the small, medium, large business owners and individual service providers. 

Bonnie Baldwin