GST

Founder infotech is GST Ready

GST is a critical reform that indicates the growth of a country’s economy. GST not only makes the tax system less complicated, it also helps in increasing compliance, boosting revenue and lessens the tax outflow for the consumers. The Constitutional Amendment Bill for Goods and Services Tax (GST) has been sanctioned by the President of India post being approved by the Rajya Sabha and Lok Sabha. India is expected to have the GST bill take full dominance and replace all the indirect Centre and State taxes levied on goods and services by April 2017.

With the Indian GST coming into the picture, taxes such as VAT, Service Tax, Excise, Octroi, etc. are likely to go away and a single taxation system will be established. It will be divided between the State and the Centre for an easier and a simpler taxation system. The most important work, therefore, lies with the accounting software. Accounting software, now, will have to ensure adaptability, scalability and customization as the foremost features. Companies will now have to think beforehand about the changes needed to become GST compliant. Also, it is important to use a software that can not only just compute GST, but can also be readily plugged in to accommodate upcoming taxes. Keeping into consideration all GST requirements,  Founder infotech  ERP is the first Indian GST compliant software whose cloud services already power more than 3000 businesses globally. To know more  Founder infotech  becomes the first GST compliant cloud-based enterprise in India.

“With the GST being one of government’s biggest tax reforms in the country; we are looking forward to it. We have been always ready for GST in India since our products are already being used in GST compliant countries like Singapore and Malaysia” 

Founder infotech  is a market leader in integrated cloud-based enterprise software that caters mainly to the SME segment The startup has also been listed as one of the top 10 companies in Deloitte India’s Technology Fast 50. With respect to GST implementation in India, Founder infotech  has taken forward strides and has declared itself as the first Goods and Services Tax (GST) ready software in India. Founder infotech  already has operations in Singapore and Malaysia and offers GST compliant cloud-based enterprise solutions in these countries as well

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Founder infotech currently has offices in Singapore, Malaysia, Philippines, Thailand, United States and India. With its range of cost-effective cloud enterprise software solutions, Founder infotech mainly caters to the small and medium businesses. Founder infotech has actively worked with various government departments and businesses across the South East Asian region and has assisted organizations, ensuring a seamless move to the GST based taxation system. Indonesia was the first South East Asian country to implement GST in 1984, followed by Thailand in 1992, Singapore in 1994, Philippines in 1998 and Malaysia in 2015. Having already served and fared well in countries with the GST system of taxation, Founder infotech  is well versed with the nitty-gritties and the requirements of the industry.

“Founder infotech  ERP software has always been GST compliant and we have gone through exactly the same scenario, when GST was rolled out in Malaysia. We have hands-on experience tweaking our software to different needs of different countries. We have been the no. one choice of SMEs in India too. All we need is to fill in the rates, and we are ready to go” 

 Founder infotech   ERP, which is also India’s first GST compliant integrated cloud-based accounting software, has already been empowering the business of more than 80,000 users across the globe. Founder infotech   ERP is a proven, comprehensive financial management platform that takes into account all applicable taxes that fall under the blanket of the Indian GST. The product has been designed to fulfill the business requirements of a wide range of industries and facilitates access to business data while on the go.

In India, Founder infotech  has offices in Delhi, Mumbai, Pune and Ahmedabad. The unique feature of the software vendor is its capability to ensure a seamless transition and smooth integration of the financial structure from the old version to the new one. For instance, if a company has its financial data stored in an old financial system of any business software, Founder infotech takes responsibility to integrate the existing accounts with the new structure which is GST compliant. This ensures a completely seamless shift to the new GST taxation system.

GST is a game changing reform that will transform the Indian economy by creating a levelled playground for Indian companies and will minimize the surging effect of tax on the cost of goods and services. Founder infotech with its cloud-based suite of integrated enterprise management solutions, is making notable contribution to the Indian IT space.

 

Quickfacts

1st GST ready software provider in India

2016 Most Admired Brand award by VAR India

One of the top 10 companies in Deloitte India’s Technology Fast 50

Deskera’s already offers GST compliant software to multiple countries.