GST: When you need an extra brain, we have one for you29 August, 2017 12:12 pm
Does India’s new Goods and Services task make you feel as though you need an extra brain to get to grips with it? Thankfully, you’re not alone – either with the problem, but more importantly, with the solution. ExpenseOnDemand has the answer (it’s that extra brain…)
Although it’s been hailed as a game-changer that will unify the whole of India under one system, a lot of people are still trying to understand the rules of the Goods and Services Tax.
Made more complex by the range of rates goods can be taxed at, and where the collected tax has to go, it’s a potential minefield peppered with opportunities to make mistakes.
But help is at hand. ExpenseOnDemand is an expense management app that lives on your smartphone and offers an artificial intelligence solution to your GST headache. When it comes to getting your head around GST, we provide that extra brain packed with all the knowledge you need.
Our expense management app has been around since 2003, since when we’ve been evolving and developing it. The latest evolution was prepared with the introduction of GST in mind.
Tax calculations done
It’s been set up with the power to do all the tax calculations for you, because we’ve built in the ability to do the math. All you have to do is record the detail of the expense, and our clever little smartphone app will work out the tax in the background.
What’s more, it will collate it all to allow you to work out how much tax you have to pay, and how much you’re able to claim back.
The benefits of the new tax are undeniable – in the longer term, after you’ve understood the implications and the mechanisms involved.
Accurate and easy report creation
Using ExpenseOnDemand you’ll be able to collate your business expenses accurately and easily with our expense management software. You’re able to set up bespoke categories to record items, but how you do it is up to you – perhaps by supplier, or by tax band, or just month or week. Whatever you choose, ExpenseOnDemand will hold all the information and allow you to produce reports that show your tax position clearly, which means you’ll never accidentally pay more tax that you need to.
Alternatively, you could export the information to your accountant, and let him or her sort it out. That’s what they’re good at, after all – and what you pay them for!
To help you understand how the Goods and Services Tax works, and to offer you advice about getting up to speed with it, we’ve produced a series of short video animations and posted them for you to watch free on YouTube. Episode one is here.
With all of the payment of GST happening online, doesn’t it make sense to collate the information in the same way, using our cloud-based expense management software?
And here’s the best part…
The cost of using ExpenseOnDemand is lower than you might think for all of that ‘pocket powerhouse’ of tax-calculating ability. The cost of the time needed to collate tax reports is a burden on your business; if you use ExpenseOnDemand, you’ll cut that time to the absolute minimum, leaving more hours to do business whilst knowing you’re on top of your tax.
That’s smart thinking with a smartphone. The ExpenseOnDemand smartphone app is the extra brain you’ve been looking for to help with your GST. It might be artificial intelligence, but the results are very real!
Depend on us – customers in almost 100 countries already do….