Despite Complexity, GST will Ease Financial Procedures – Dinesh Gupta

Despite Complexity, GST will Ease Financial Procedures – Dinesh Gupta

It’s almost a year since GST was implemented in India. E-way bill has also been initiated. Though people have gradually become adapted to GST, but most of them still struggle in filing it, despite all the efforts of the Government to ease out the filing. With the implementation of GST, many GST compliant softwares have been introduced in the market to ease out the process of GST filing for the people.

Busy Infotech Pvt. Ltd. also introduced GST compliant software, BUSY – Business Accounting Software, at IT ASIA’ 94 organized at Pragati Maidan, New Delhi. BUSY is one of the most advanced GST compliant software.

BUSY comes with the features like Financial Accounting, Multi-location inventory, Production/Bill of Material, Sales/Purchase Order Processing, User-configurable Invoicing, User-configurable Documents/Letters, Sales Tax Reports/Registers, VAT Returns/Registers (State-wise), Mfg./Trading Excise Registers, Service Tax/TDS/FBT, MIS Reports & Analysis.

Dinesh Gupta, Founder Director, Busy Infotech informed about some other salient features of the software to Excerpts:

How BUSY is different from other GST and e-way bill compliant soft wares available in the market?

The best thing about Busy is that one can use it without any professional knowledge of accountancy. He can generate the invoice and file the return himself easily. Busy can automatically detect the errors or wrong entries.

It’s been almost a year since the GST implemented. Still many middle and small business houses are struggling to understand it. What do you think where the problem lies- GST rules, return filing procedure or somewhere else?

GST rules and return filing procedure both are a bit complicated. To understand GST rules you must possess good knowledge of accountancy wherever to file a return you have to be computer savvy. Small businessmen have limited resources. Neither all of them can afford a permanent accountant or a skilled computer operator. Such software helps them to do their task without possessing special skills or hiring trained staff.

There are plethora of firms which depends on freelancers to manage their accounts.  Is software like Busy is enough to do this task?

It is true that any such accounting software cannot be the replacement of accountants, but yes, it can prove a helping hand to their account management. From generating an invoice to e-way bill or calculating GST and validating GSTN, you alone can do all the above with this software. Once you have done all the above, it would be easy for your accountant or CA to file the return.

What major difference did you observe before and after GST implementation?

Still many of the businessmen are afraid. But finally, they have prepared themselves to go with the flow. Only thing is required to simplify the GST for them.

As a market leader in accounting software where do you find the GST system lacking?

GST is a reform for the country. It is a complex tax system which will ultimately ease many of the financial procedures. What is required to make its rules and procedure a bit easier.  A helpline is also required where one may get all the desired information related with GST.

I think return filing can be easier, for instance, client’s summary should be uploaded instead of invoice label detail. No need to be emphasizing much on HSN code.  Reporting can be based on tax rate rather than HSN code. RCM can also be more flexible like UAE and other such countries.