GST, INCOME TAX, AND PAYROLL SOFTWARE BY GEN SOFT SOLUTIONS ONLINE

What is GST?

GST is an Indirect Tax for the entire country on the supply of goods and services, which has been replaced for many Indirect Taxes in India like VAT, CST, and many other taxes charged by the state government. It took 17 years to evolve this law, and in 2017 the GST Bill was passed in the Lok Sabha and Rajya Sabha. The Goods & Services Tax Law is a comprehensive, multi-stage, destination-based tax.

There are three types of GST: CGST, SGST/UTGST, IGST.

● Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) is imposed on the supply made by a registered person within the state.

● UTGST is imposed along with CGST on a supply made by a registered person within a union territory.

● IGST will be levied on the import or interstate supply of goods or services or both.

How To Calculate GST?

You can easily calculate the GST levied on you by the software provided by the ABV Pvt. Limited. A GST software calculates Integrated GST as the sum total of CGST and SGST or UTGST.

The formula used to calculate a GST is:

GST Amount = Actual Cost of an Item of the product X % GST Rate Imposed for the Goods or Services.

To calculate GST and account for it in an invoice:

Invoice Value = Taxable Value (+) GST Amount

Taxable Value GST will be levied on the value of supply so, the correct value of supply is required.

BUY GST SOFTWARES FROM GEN SOFT SOLUTIONS ONLINE

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A GST software is a complete GST solution that is designed and developed by ABV Pvt Ltd. The software is available on Desktop and Online also. The desktop and online variants of GST software are based on the highly secured computer programming language. GST software designed by soft solutions online gives the best user-interface presenting each and every feature displayed on-board. GST ready software (Billing, Returns Filing & e waybill, and many more) designed by our company is Operating System (OS) independent (Online). So, regardless of OS running on the system, the software is all set to work and operate on the desktop right away from the installation. You can access our software anytime and anywhere, giving on-the-spot assistance to the small businesses in India for GST billing, e-filing & E way bill purpose.

BUY ONLINE SOFTWARES FOR INCOME TAX FROM SOFT SOLUTIONS ONLINE:

Gen Soft Solutions Online gives the best Income Tax, TDS, Audit, CMA Taxation software. We are India’s Best Taxation Software to file your Income Tax Returns, TDS returns, and Audit Reports easily. The modules like Income tax return e-filing, GST, GST compliance software, etc. modules are inbuilt into the software. We have designed an Income tax software, which is a complete package of Income-tax computation software, ITR software, and income tax e-filing software. You can take advantage of ITR software for easy preparation and generation of ITR forms in paper returns. You can also get an e-return by just filling the values from the computation sheet and balance sheet to ITR forms.

BUY ONLINE PAYROLL SOFTWARE FROM GEN SOFT SOLUTIONS ONLINE:

Gen Soft Solutions Online also designs Payroll Softwares for efficiently managing and smooth-running of the process of making payments to employees. The software is designed by our company is used by other Companies for the automatic calculations of payments, withholding taxes, and depositing monthly payments into the designated bank account of employees. Our Payroll software has an inbuilt automatic calculation of deductions for with holdings (taxes, insurance retirement contributions). You can also use our Payroll for the processing of direct paycheck deposits, generating tax forms, and deducting wage garnishments.

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