Statutory Compliance

It is important to remain compliant and follow all statutory and legal compliances in terms of paying taxes on time. It not only helps to strengthen the economy but also your company can benefit under various government schemes rewarding compliant businesses. Over the last few years, the Central and many State governments have undertaken various policy reforms & process simplification towards high predictability, fairness, and automation towards taxes.

Our GST compliant accounting software, TEZ Books, ensures that the tax submissions made to the Indian government be easy and accurate by helping our clients meet their compliance obligations.

Here’s how we do it……

GST is a comprehensive indirect tax levied on manufacture, sale, and consumption of goods and services at the national level. GST is expected to bring together the state economies and improve the overall economic growth of the nation. You can view the status of your GST in TEZ Books software on a real-time basis. It is connected with the GST portal and allows you to upload and download GST data for GST returns. TEZ Books is fully GST Compliant. You can effortlessly file GSTR1, GSTR 3B and match GSTR 2A.

Following are the returns which can be generated using our business accounting software:

1. GSTR-1: This return has monthly sales details, which will be filed by the 10th of next month. You can simply download the JSON file from ERP and upload it on GST portal
2. GSTR-3B: Every person registered under GST (Except NRI & composition scheme) need to file GSTR 3B by 20th of next month. If you do not file this return in-time, you need to pay Rs.50/- day as late fee (Rs.20/- day for NIL returns). Tax liability must be paid before filing this return. You can simply download the JSON file from ERP and upload it on GST portal
3. GSTR-2A/2B: When a seller files his GSTR-1, the information is captured in GSTR-2A. GSTR-2A is a purchase-related tax return that is automatically generated for each business by the GST portal. You can simply download data directly from the GST Portal or download the JSON file from GST portal and upload it on ERP. System will highlight all missing entries, mismatched entries and extra entries, which can easily be reconciled
4. E-Way Bill: TEZ BOOKS helps to Generate E-ways bills of specific consignment / movement of goods from one place to another, either inter-state or intra-state as per GST regime. You can enter transport details and create E-way bill directly from the software through GSP Calls or download the JSON file from ERP which can then be upload on GST portal.
5. E-Invoice: TEZ BOOKS is integrated with GSTN portal to help you quickly create E-Invoice and update IRN No. with QR Code on your invoice.

Penalties may arise when there is a delay in filing GST Return. This happens when you need to submit all your financial data in excel-sheet formats to your CA’s. It is not only a time-consuming process but would need extra human resources to gather all the data which is already stored in physical form. TEZ Books helps in reducing the delay by generating the returns, thus simplifying your work.

Features of TEZ BOOKS in terms of GST:

1. Setting up your account effortlessly. A huge timesaver
2. Create Customer/Vendor master from GST Nos. through public search API
3. GST Compliant Invoices
4. Generate eInvoice with IRN No. and QR Code
5. Create E-Way Bills
6. Calculating of Input Tax credit efficiently
7. Filing of GST Returns simplified
8. Match GSTR2A / GSTR2B against purchases and expenses

TEZ Books also supports TDS entries, TCS entries and generates TDS/TCS reports.

The software also facilitates TDS compliance for every purchase/payment and receipt transaction made. Simply, set the suppliers for TDS by assigning their tax types and tax deduction rate in the master list for vendors, suppliers, and customers in our software.