Accely conducted a webinar on 13 April 2020 to discuss the benefits of a GST solution integrated with ERP for SMEs. Goods and Services Tax is a single-window tax structure applied by central and state governments to all goods and services. The GST is levied on the supply of goods and services from the unit of manufacture to the end consumer.
The use of manual vouchers and ledgers has been stopped by business organizations. But they need to provide technical backup along with digitizing records and automating the whole process to comply with GST. Accely’s GST solution helps to file multiple returns in the transition and automatically manage the full returns.
The issue of input tax credit leakage is faced by a GST filing system which is not incorporated with their ERP and does not do the reconciliations in real-time. In addition, with the introduction of e-invoicing (IRN), you now need to work with 3 discrete systems, from the first step of shipping the goods to the final step of filing the monthly return and input tax credit availability.
Accely has partnered with SAP to implement ERP with GST. SAP GST helps restructure all internal and external processes related to tax and business. You can upgrade all of the master data easily. Updating and launching the latest version of ERP becomes simplified. The computation process is reconfigured and all outgoing invoices are maintained in the sequence of numbers. Accely SAP GST solution strictly abides by the new GST structure updates.