Goods & Services Tax can impact accounting and invoicing processes across industries for each leased Accountants and Businesses. once July 1, businesses and accountants can need to adopt software package and ERPs that area unit capable of managing taxation, invoicing & accounting as per the new tax regime.PH IT Solutions being a pioneer within the business can assist you perceive the technical aspects of the implementation of products and Services Tax, the impact on ERP systems, and what you wish to try and do to be tax compliant during this section.
Many HR professionals are choosing a GSTS to handle all their HR activities electronically. Having a great GSTS has numerous benefits. In the end, productively levels tend to increase as a result of choosing the right GSTS.
From first July, 2017 product and Services Tax can replace Central and State level indirect taxes like VAT, Service tax, Excise etc. Businesses that area unit registered underneath VAT or Service Tax got to migrate to product & Services tax as per the ingress set up of State Governments. it's applicable to you if your annual turnover is Rs. twenty large integer or on top of. just in case of North jap states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura) and craggy regions i.e. Himachal Pradesh, Uttarakhand, Jammu & Jammu and Kashmir and geographical area, the brink limit is Rs. 10 lakh. browse our articles to know a lot of regarding registration method, its pertinency and rules.