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.