Top accounting software India? What is Reverse Charge? Usually, when the supplier supplies goods, the tax is levied upon the supplier. In certain cases, the tax is levied upon the buyer of the goods. This is called reverse charge as the chargeability of tax gets reversed. This is not new under GST, as under the previous VAT regime, the reverse charge existed, but only on services. Now, under GST, it will be applicable on goods as well. How taxes are charged before and after GST? Before : Taxes paid by the dealer (Excise) to the manufacturer is added to the cost. When the dealer sells down the chain, VAT keeps getting charged on the sum of actual product cost + excise component, and the VAT keeps getting levied at every point of sale, till it reaches the end customer. After : Taxes paid by dealer (CGST + SGST) to manufacturer is not added to cost. This is because GST allows the dealer to set off the tax liability of CGST + SGST. This is one of the fundamental features of GST, which allows seamless credit from manufacturer to dealer, and eliminates the cascading effect of taxes.
Artificial intelligence (A.I.) is the future of mankind and to increase user experience we developed highly advanced A.I. alogrithms which learns while user use our software and reduces startup, form opening, search, and data retrieval time depending on usuage pattern. Taking A.I. to the next level, we started incorporating virtual assistant feature from version 5 which once fully deployed helps you in better business management.
Our billing software comes with fully automated data backup functionality with multi location support. No need to remind yourself to backup data. Using our billing software you can generate various GSTR reports like GSTR-1, GSTR-3B as per format prescribed by Government of India. Using our billing software you can export data in PDF/Excel format for future reference. PDF documents can be directly mailed from software itself. Hitech BillSoft comes with android app for owners where they can check their business data and helps you in managing business better. Discover even more information on free billing software.
Our billing software allows you to generate both GST/Non-GST invoices and seamless transition from Non-GST to GST invoice. You can add any number of items with different tax rates in same invoice. 1. Allows you to switch between Non-GST and GST smoothly. 2. Make sale transition easier from Non-GST to GST. Hitech BillSoft comes with in-built multi-size invoice templates which allows you to generate A4, A5, and PoS receipt size invoices. Our unique dual channel printing engine supports 1000’s of printers available in the market. Saves paper and reduce printing cost. Allows you to switch from A4 to PoS receipts in a click.
We built BillSoft to be smart and simple. It’s powerful and easy to use. It’s fun and businessy. We make BillSoft because we think software can be all of these things. And that’s why we want to make it easy for you to try. We’re proud to say that our customer support team strives to save you time and money by solving your problems as quick as possible. We collaborate with all members of the team to find our user’s most pressing needs and figure out ways to give them the best solutions. We work hard to ensure Hitech BillSoft is up to date and usable by users all over the planet and we release new updates often, to help our users better solve their problems. Discover more information at https://billingsoftwareindia.in/.