GST compliance entails following the guidelines and standards established by the Goods and Services Tax framework implemented by a government. GST is a consumption-based tax imposed on most goods and services.
Eazemax software eases GST compliance by automating the process of following GST guidelines.
Businesses operating in India encounter several obstacles when striving to comply with the Goods and Services Tax (GST) system. Here are some prevalent challenges:
The GST framework itself is intricate, featuring multiple tax rates, elaborate return filing procedures, and frequent updates to monitor. This complexity can be particularly burdensome for small and medium-sized businesses (SMBs) that may lack dedicated resources for GST compliance.
A primary advantage of GST is the ability to claim credit for taxes paid on inputs. However, effectively managing ITC claims can be challenging, and errors can result in penalties.
The GST portal, utilized for filing returns and fulfilling other compliance tasks, has encountered technical issues in the past. These glitches can cause delays and frustrations for businesses.
Engaging with vendors who are not GST-compliant can pose difficulties for a business's Input Tax Credit (ITC) claims.
Particularly in the early stages, there was insufficient understanding of the intricacies of GST among certain businesses, leading to inadvertent non-compliance.
Handling the generation and management of e-way bills for goods transportation can be demanding.
Adhering to deadlines for filing returns and making payments is vital for maintaining compliance with GST regulations.
EazeMax enhances GST compliance for businesses with a range of essential features:
Provide mechanism to gather important documents related to GST return filing on timely basis from user as well as Clients.
Provide mechanism for specific event based compliance done on timely manner.
Efficiently track and claim Input Tax Credit, optimizing the benefits of GST.
Efficiently organize and maintain business records pertinent to GST, facilitating easy access and audit readiness.
EazeMax provide different compliances applicable to Client according to their dealer type (For Eg Different types of return compliance according to Regular or Composition taxpayer type)