What every business owner should know about the GST India

GST basics for Business Owners

GST India – Goods and Service Tax

What is GST India??

  1. GST is a combined tax replacing all the indirect tax levied by State and Central government of India.
  2. Basically, GST = Central Sales Tax + State Sales Tax + Excise duty + Service Tax + CST + Surcharge + CESS + Luxury Tax + Entry Tax + Purchase duty + Vat + Entertainment Tax and many more…

Who should prepare for GST India?

You have to register under GST India if your/you’re

  1. Annual Turnover crosses 20 Lakhs.
  2. Website exists from where the supply of goods and services takes place.
  3. Registered for VAT under previous law
  4. Making Interstate transactions
  5. Paying tax under Reverse Charge mechanism.
  6. The producer of the Final Product.
  7. A Service Aggregator like OLA, Uber
  8. An E-commerce Aggregator/Operator like Amazon, Snapdeal etc.
  9. A Supplier to ECommerce aggregator.
  10. A Casual Taxable person – self-employed.
  11. A Non-Resident taxable person having no place of business.

How does GST India impact you?

If you’re a business owner, you will witness a complete transformation of the taxation system.

  1. Firstly, all registered merchants get a GST registration number. Their permanent account number linked to it.
  2. Secondly, there will be additional 36 returns per year to be filed on a single registration.
  3. Moreover, every Financial Transaction will come under the close Scrutiny of the Tax Department.
  4. That being the case, a merchant will be answerable to even the Smallest Transaction he does without sufficient knowledge of intricacies of the law.
  5. Additionally, they will be increased Compliance Burden: Three returns in a month to maintain will make their job harder. In other words, they will need to maintain a proper account of everything they do.
  6. Eventually, the merchant would need to stay updated with technology since the way in which accounts are required to be maintained under GST, they can only be maintained if a Proper Technology is used.

Why GST and Why Not?

Well if you’re a small trader or planning to become one, here are some eye-openers about GST India that makes you smile:

  1. Starting a Business gets within your reach: Since there would be lesser fees of procedural requirements and zero complications of different indirect tax rules across different states.
  2. Small Traders become Small Taxpayers: There has been an increase in the basic exemption limit to 20 lakhs, which is a 75 percent relaxation in the limit for small traders and manufacturers.
  3. Speed delivery of your Goods/Services: As the entry tax at check posts and interstate borders is expedited.
  4. Happy Manufacturers as well as Consumers: Due to the reduction of tax both for the manufacturer and the end user. For the simple reason that the manufacturer gets the benefit of input tax credits and the end-user pays only the tax charged by the last dealer or the retailer in the supply chain.

Every advantage may seem to have its own disadvantage. When in fact, GST India need not negatively impact SMEs (Small to Medium Enterprises). Whereas, it could surely increase the burden of more compliance if you aren’t prepared well.

  1. Managing ambiguity might become the biggest challenge.
  2. Moving from current tax era to GST would be a Period of Pain and inconveniences if SME’s aren’t embracing technology and processes in their accounting work. To put it briefly, this would require SME companies to inevitably have an Accounting Software System for billing and filing.

Where’s the solution?

Expectedly, businesses failing to comply with GST are failing in business too. All in all, Is my business GST-ready? Is the question to yourself. At any rate, even high-performing rebels in your industry need to ‘Manage up’.  To put in other words, you need to “Manage up” too.

Fact is that under GST India- ”The process of tax payment, Tax credit, and refund of GST would be carried out electronically”.

Evidently, being GST compliant needs updating your Digital Accounting System.  Again, with nearly 70 percent of small businesses in the country are yet to adopt digital technology in their business format, it is going to be a huge challenge for them to computerized themselves in the shortest period.

Fortunately, there is Accounting & Billing software like VYAPAR, which is GST ready. For SMEs, using such accounting software could be a good starting point. Using such Billing software results in a reduction in paperwork and time wasted in paying taxes.

Click here to see how to install Vyapar App to your Desktop to remain GST compliant.


Vyapar Desktop App Installation Guide for Windows

Vyapar Desktop App


This guide provides step by step instruction on how to install Vyapar Desktop App on your computer.

1. Overview

Vyapar Desktop APP – GST Ready Accounting, Invoicing & Inventory Software is built to make your Business Accounting and GST Filing easy. This APP lets you send invoices, manage expenses, track inventory, generate reports, file GST returns and much more effortlessly. Features include – Professional Invoices, Stock Management, Payment Reminders, Auto backup and much more. Check out more at www.vyaparapp.in.

2. Installing Vyapar Desktop APP on Windows

2.1. Strict System Requirements (Note: Currently Vyapar Desktop App can be used only in windows machine)

Recommended hardware specification for our app to run smoothly:

  1. OS: Windows 7 or above.
  2. RAM: 2GB and above.
  3. Hard Disk: 10GB and above free space.
  4. Processor: Intel i3 and above.
  5. Screen Size: 14.6″ and above.

2.2. Downloading and Installing Vyapar App

  1. Vyapar Desktop App can be downloaded from our official website www.vyaparapp.in
  2. On the homepage, you will find a download button with text ‘Download for Desktop (Windows)‘ alongside ‘Download for Android’ button.
  3. Clicking the download button of your choice will begin the download.
  4. It usually takes 30 seconds to 10 minutes to download, sometimes, even longer depending on your internet speed.
  5. After which, all you’ve got to do is to double-click the ‘Vyaparapp.exe’ file in your downloads folder.
  6. If everything goes good, you will see an installer running with the Vyapar icon.
  7. Usually, the app takes 2 to 3 minutes to be installed.
  8. The App will open automatically, after which a login screen will appear.
  9. Now, all you need to do is add your business name, your email address,  phone number and start using Vyapar your way!!!

(Note: If you are already using Vyapar Mobile App, you can restore the backup from your Android device).

See how Vyapar helps you in GST billing and filing here. For more information visit Vyapar website at www.vyaparapp.in. Happy Vyaparing!!!

Vyapar is now GST ready.

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Accounting software, GST Invoice, GST software, Invoicing software, Inventory management, Small Scale Business in India

It is often seen when a disruption in the market is initiated, a large segment of the businesses are inconvenienced. GST is touted to be the biggest disruption in the Indian Economy. It has affected businesses of all sizes in some or the other way. Are you suffering due to its complexity? Intimidated by the reports of fines imposed for non-compliance to GST? Worried that you do not have the requisite tools and systems to update your account books? Continue reading “Vyapar is now GST ready.”

Post GST implementation effects for Small Businesses in India

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Prime Minister Narendra Modi billed GST as a ‘good and simple tax’ that will end harassment of small businesses. However, the reality remains quite different. Hailed by experts and economists that GST will be beneficial in the long run, small businessmen are still unclear about the nuts and bolts of the new tax regime. Continue reading “Post GST implementation effects for Small Businesses in India”

GST Invoice Facts

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In its bid to allay concerns of traders on invoice generation post-GST, the CBEC, under the Department of Revenue, said: “There are some apprehensions in the trade circles that GST invoice have to be issued as per prescribed format and that issuing GST invoice is going to be burdensome process. This is not correct. Some important facts about GST provisions relating to invoice are highlighted for information of all stakeholders.” Touted as the biggest reform since Independence, the incoming indirect tax regime is aimed at creation of a common market, preventing ‘tax-on-tax’ and making goods and services cheaper. Continue reading “GST Invoice Facts”

All About Invoicing Under GST

Vyapar Accounting & invoicing software

Invoicing under GST is going to go through some changes. It forms a crucial function when it comes to the execution of a transaction. On every sale/purchase an invoice is issued by the supplier i.e person making the sale. The invoice contains S.No, details of product such as product name, description, quantity, etc along with details of supplier, purchaser, tax charged and other particulars such as discounts, terms of sale etc. and all of these would need to be depicted in the GST invoice. Continue reading “All About Invoicing Under GST”

GST Tax Rates 2017: Vyapar reviews what gets affected.

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GST Tax Rates released

GST tax rates, 2017 and why they matter

The much awaited GST tax rates (Goods and Services Tax) are about to be fixed. The GST council will decide the rates on all the goods (from salt to luxury cars) and services(phone calls to dining out) has begun its meetings and the first set of GST tax rates rates are out. Continue reading “GST Tax Rates 2017: Vyapar reviews what gets affected.”