How GST Tool Helps Coping Well with the Tax Payment Rules? - Make Money Online

Header AD

How GST Tool Helps Coping Well with the Tax Payment Rules?

With a unique objective to run a single taxation process in India, the government put out its optimum strategy as the Goods and Services Tax in India. It not only made the overall taxation unified but also brought some significant changes in the way the people were paying their taxes earlier. The rollout of GST in India has tremendously pushed the ideology of digitalization to everyone’s mind and also to adopt the same so that the nation could become more advanced.
Although the intention of the GST Council could not be marked completely impious, the members somehow forgot to consider the backlash that occurred post regime implementation due to the unawareness of the people. And as expected, the major problem that the people faced was in making the payments in order to pay their taxes as per the rules and regulations of the new taxation regime. But swinging in posthaste and making its presence count at the damaged area, GST tool delivered an aid that proved to be a quick fix for the rattled GST regime.

Before we jump on the fact that how the people get relieved with the help of the tool, let’s first understand the basics of payment of tax under the new regime:
  1. Being destination based in nature, the new taxation is divided into three categoriesa.
  2. CGST- Central Goods and Services Tax
  3. SGTS- State Goods and Services Tax
  4. IGST- Integrated Goods and Services Tax]
And has five tax slabs as 0%, 5%, 12%, 18%, and 28% respectively.

1. In order to get the final payable tax, you will have to reduce the ITC (Input Tax Credit) from the overall tax liability and further curtail the TDS/TCS ( Tax Deducted at Source/ Tax Collected at Source) to get the required amount.
2. As per the rules of GST, at the time of filing the form GSTR3, the tax is required to be paid. The time window to pay the tax is between 12 AM to 8 PM.
3. Now at the time of actual payment of the tax, you can choose the option of over the counter payment if the tax amount is below than INR 10,000. In case the payable tax amount exceeds INR 10,000, then you are required to create an e-challan and reduce the ITC if received, and pay the remaining amount to the government as tax.

Now, compelling to these rules without making even a single flaw could become challenging for you. This becomes more onerous when you are intensely involved in the meeting the expectations of the consumer from your business. But better late than never, if you make a smart decision choosing GST tool at the right time, you could, for obvious reasons, can walk past the errors and flaws that might occur if you do not choose one. Here’s how integrating technology with GST can do wonders for your taxation and the time and cost associated with it:
  1. No missed deadlines- The best part of using a tool to do the taxation is that you never miss the date or the deadline to pay tax or file return. The software keeps your taxation prompt and on-time without you even being concerned about it. You can preset the details and fill in the information so that on the time of payment, the system automatically initiates the procedure and notifies you about the same. It ultimately reduces the time consumption and also cuts the cost involved.
  2. No errors- You might figure that while you were trying to claim your input tax credit, one of the invoices was wrongly uploaded and now the entire calculation is messed. These minor but impactful errors could easily be avoided by using a tool or a software for the taxation purposes. Just because every process is set in a specific format with highly-encrypted language, you could put an end to the mistakes. And not only ITC, but every single process of GST regime can be made simple and precise.
  3. Bulk documentation- The aspect of an utmost importance in GST is the ability to create multiple invoices and documents at the same time. Every business induces thousands of invoices of different backgrounds. Maintaining and uploading these invoices becomes simple if you use a reliable tool capable of handling such strenuous operations. One more benefit of using a tool in the terms of invoicing includes backup that if in case you lose the original ones, you would also find the copy in the software.


The rules and regulations of Goods and Services Tax, if followed with an equitable proficiency, would help achieve the goals to end the tax evasion and unify the taxation in the economy. And even if the process seems sturdy the implementation of GST tool would make it uncomplicated so that the people can easily comply with GST.
How GST Tool Helps Coping Well with the Tax Payment Rules? How GST Tool Helps Coping Well with the Tax Payment Rules? Reviewed by Lokesh kumar on 1:21 AM Rating: 5