GST ‘e’ Learning Solution by Webtel provides Convenient, Continuous and Comprehensive Learning of GST Law and Procedures. The content, methodology and delivery are so effective that there is hardly any need for anything on Learning/Training front.
Doing an Impact analysis on the profitability of your client is important to decide whether any change in business structuring is needed or not. Webtel “GST Impact Calculator” will help you do basic calculations. Further, Transaction Structuring, Working Capital Assessment and Transitional provisions need to be looked upon.
Actual implementation of GST starts with making changes in Accounting System. Changes in Accounting primarily include:
- Updating GSTIN of Suppliers/Buyers in Accounting Master
- Coding Tax Nomenclatures i.e. CGST, SGST, IGST, UTGST and cess etc.
- Soft/Hard coding the Rate of Taxes.
- Describing HSN codes for different items.
- Other Necessary changes in reports
- Setting output file structure for integration/absorption by GST Return Preparation Utilities.
Different organizations use different Accounting systems like Tally, Busy, Marg, SAP, JdEdward, Xapta, Baan, Microsoft Navision, Oracle, RAMCO or any other ERPs. Primarily above changes in any of the accounting systems will be made by the provider of these softwares.
Webtel has middleware/connections to pull data in defined structure from any of these softwares. In case of few softwares like Tally and Busy we have already done end to end integration and there is no need for any connector/middleware.
In this purview, To avoid any jerks during this journey of GST Implementation, it is important that certain precautions are taken. Most important one is doing “Disciplined Accounting” instead of simple accounting.
Disciplined Accounting is important to ensure error free GST Compliance. Attached video will guide you as to “How to do Disciplined Accounting for Error Free GST Compliance”.
How data will flow from an Accounting system to WEB-GST has been shown through a technical diagram mentioned below.
WEB GST – A Complete Solution for GST Compliance Management– Simplifying GST
There might be a need for putting up a separate compliance team for GST considering that minimum 3 Returns have to be filed every month on different dates. Getting Data from GSTN Portal, Reconciling Input Tax Credit on Inward and Outward supplies, adjusting input tax credit on Advances etc. and determining Net Tax Liability are many such processes, which need a good tool to manage. Web GST has many unique features simplifying GST Compliance.
Features of WEB GST
- Integrated with Accounting Software(s)
- Auto Import of Import/Outward Supplies and Expenses from Accounting Software(s)
- Dynamic GST Computation
- Generation and Upload of GSTR 1,2,3,4,5,6,7,8,9 and 9A
- Download GSTR 1A/2A from GSTN
- Invoice Mismatch Report in Different Categories
- Auto Intelligence Matching Facility
- Reconciliation of Mismatched Invoice Data
- Calculation of Net Tax Liability
- Online Payment of Taxes
- Creation of ISD Master and Distribution of Input Tax Credit
- Print Computation and Return Forms
- Status of Uploaded Invoices
- Report of Debit/Credit Notes with Inbuilt Mailing Facility
- Report of Pending/Uploaded Returns
- Backup and Restoration of Data with Live Update Facility
Audit/Assurance- GST Dashboard
Since minimum 3 Returns are to be filed every month, which involves uploading and downloading of voluminous invoice data, Reconciliation of Input Tax Credit etc., it is important for professionals to do regular monthly Audit of GST Returns prepared by clients to ensure timely compliance. Webtel’s Auditor’s Dashboard is a maker-checker tool to ensure smooth compliance. Dashboard facilitates real time synchronization of data from maker to the checker and thus reduces the possibility of errors.
Reconciling mismatched invoices, issuance of debit note/credit note are many such issues which if not handled systematically can create lot of financial and operational difficulties
Supplier/Buyer Assistance Services
Suppliers/Buyers are going to affect compliances for any Assessee in GST. Non filing of Returns or Wrong filing of Returns by Suppliers/Buyers is going to create unnecessary hassles because of interdependencies. It is important to update GSTIN Nos. of Suppliers/Buyers in the first instance in Assessee Accounting Master for business to run smoothly even after 1st of July, 2017.
We at Webtel can help creation of a utility for updating Supplier/Buyer GSTIN and can add value through mailing facilities for reconciliation and debit note/credit note management. Further training can be given to suppliers/buyers through ‘e’ Learning module to make transition easy.
Calender - GST Returns & Their Due Dates
||Type of Return
||Type of Assessee
||To be Filed by
||Details of Outward Supplies
10th of Next Month
(Jul 2017 : 5 Sep & Aug 2017 : 20 Sep)
||Details of Inward Supplies
15th of Next Month
(Jul 2017 : 10 Sep & Aug 2017 : 25 Sep)
||Consolidated Return of Inward & Outward Supplies
20th of Next Month
(For Jul & Aug GSTR 3B to be Filed)
||Return of Inward & Outward Supplies
||18th of Month Next to Quarter
||Return of Imports & Outward Supplies
||7 Days from Expiry of Registration
||Return of Input Services Received & their Distribution
||Input Service Distributor (ISD)
||13th of Next Month
||Return of TDS
||10th of Next Month
||Return of Outward Supplies & TCS
||10th of Next Month
||Regular (9) Compounding (9A)
||By 31st Dec Next FY