CHENNAI, July 3, 2017 /PRNewswire/ --
IndiaFilings, India's largest online business services platform, announced the launch of LEDGERS, a GST accounting software specially designed for small businesses. IndiaFilings.com receives over 1.5 million visitors each month and the company has a team of over 300 employees at 5 offices and presence across India through a network of over 6,000 professionals at 180+ cities and towns. With extensive experience in delivering business services through the cloud, the company plans to provide GST compliance services to over 1 lakh SMEs. GST, the largest tax reform in India's history, will bring millions of small businesses into the compliance net, increase taxpayer base and improve ease of doing business. It is estimated that over 1 crore businesses would be enrolled under GST in a few years.
Start of GST Regime in India
India implemented the GST regime from 1st July, 2017, completely overhauling the indirect tax regime to improve ease of doing business and increase taxpayer base. Under the new indirect tax system, businesses in most states having an annual aggregate turnover of more than Rs. 20 lakhs (approximately USD 30,000) would have to obtain GST registration and file 37 GST returns a year. The number and complexity of the GST return filing would require businesses to adopt a strong mechanism for accounting and filing of financial information with the government.
GST Solution From IndiaFilings
IndiaFilings started working on a GST solution for small businesses from the time GST was announced. The company first launched a GST portal on IndiaFilings.com to offer free training and educational material on GST to make entrepreneurs, ready for the GST regime in India. This was followed by offering of online services for GST registration and GST return filing to help entrepreneurs complete their GST migration or GST registration formalities from the comfort of their home.
LEDGERS Launch Event
Speaking at a launch and demo event at a Hotel in Chennai, Mr. Lionel Charles, CEO of IndiaFilings.com said, "With the GST rollout on 1st July, 2017, IndiaFilings is excited to launch its cloud-based GST solution for SMEs called LEDGERS. LEDGERS will be a cloud-based solution that can be accessed from a variety of devices from desktop computer to tablets to mobile phones. We have experience working with tens of thousands of business clients in supporting all their compliance requirements. We are excited to build on our learnings and launch our cloud-based GST platform. Our GST platform has been built on the clouds, is highly scalable and is backed by multiple servers to be fault tolerant. We have already educated and helped tens of thousands of entrepreneurs with all their GST-related queries. Now, we are excited and ready to handle over one lakh clients. By year end, we expect to take our client base to over one lakh clients, across India."
Features of LEDGERS
IndiaFilings has connected its GST accounting software to the Government GST Network and the software has features that allow business owners to easily obtain a GST registration or file monthly GST returns at the click of a button. Thus, the software will be able to download data of the taxpayer from the GST network, provide auto-reconciliation features and manage all aspects of GST compliance from a single dashboard in the software. To support new clients with all their GST requirements, the company has also created the physical infrastructure necessary for hiring and on-boarding 200 more employees in the coming few months at various offices, taking the total team size to 500+ by end of year.
Resources on GST in India
IndiaFilings has created training material, resources and software for GST in India. Entrepreneurs and professionals can easily access this information by visiting the following pages:
Procedure and documents required for obtaining GST registration - GST Registration.
IndiaFilings GST Portal with Information about GST Regime in India - GST Portal.
LEDGERS GST Accounting Software - Ledgers Accounting Software.
IndiaFilings.com is India's largest online business services platform dedicated to helping people easily start and manage their business, at an affordable cost. IndiaFilings.com was started in October 2013 with the mission of making it easier for entrepreneurs to start their business. IndiaFilings.com has since helped start and operate thousands of businesses by offering a range of business services.
IndiaFilings is the leader in business services in India specialising in incorporation of Private Limited Company, Limited Liability Partnership (LLP) registration, Trademark Filing, GST registration, GST Filing and more. IndiaFilings can help you start a business, obtain various licenses and registrations and file monthly GST returns.