GST accounting software released in India in response to new tax regime

Accountants with clients in India have a new tool to help them comply with the new goods and services tax system that the government implemented on July 1. IndiaFilings, a company based in India that provides an online business services platform, has launched a GST accounting software, Ledgers, to address the new rules.

The company also provides a portal on its website to offer free training and educational material on GST.

IndiaFilings anticipates providing GST compliance services to more than 100,000 small to mid-sized businesses in India. The company estimates that over the next few years, more than 10 million Indian businesses will be enrolled under GST.

The Ledgers software is connected to the Indian government’s GST Network. It allows business owners or their accountants to obtain GST registration, or file monthly GST returns. Ledgers is designed to download corporate taxpayer data from the GST network, provide auto-reconciliation features and allow the management of all aspects of GST compliance from its dashboard.

In the wake of the new GST regime and the launch of Ledgers, IndiaFilings is also preparing to hire 200 more employees this year, taking the company staff total to 500.

GST tax regime new delhi india
An employee displays a receipt book showing a store's goods and services tax identification number (GSTIN) in an arranged photograph in New Delhi, India, on Saturday, July 1, 2017. Prime Minister Narendra Modi launched India’s biggest tax reform in its 70-year history, as businesses and citizens across the country steeled themselves for the economic turmoil that’s expected to follow. The new goods and services tax (GST) was formally ushered in at a late-night session of parliament, reminiscent of the midnight meeting presided over by India’s first prime minister, Jawaharlal Nehru, on the eve of the country’s independence in 1947. Photographer: Anindito Mukherjee/Bloomberg

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