Chennai-based Zoho enterprise is offering its GST compliance software, Zoho Books, to Small and Medium Enterprises (SMEs) free of cost to help manage their accounting and taxes, and stay compliant with GST norms.

The software is available for free to SMEs with an annual turnover of less than Rs 1.5 crore, say media reports. Eligible businesses will be given free access to the software when they sign up through the GST portal.

Launched globally in 2011, Zoho Books released its GST-compliant version for India on July 1, 2017, on the eve of the GST rollout.

Sridhar Vembu, CEO, Zoho Corp, said: “By partnering with GSTN and the government, we want to help companies take advantage of cutting-edge technology that helps them considerably improve their business and automate their GST and other compliance needs.”

The online accounting software manages businesses’ finances, keeps businesses GST-compliant, automates business workflows, and helps businesses work collectively across departments. It is auto-updated with GST laws, which support direct filing for GSTR-1, GSTR 3B and GSTR 9. Businesses that move goods within or outside a state can generate e-way bills easily, with a few clicks.

Through Zoho Books, businesses can also automate repetitive workflows to save time and effort. It works in conjunction with more than 40 Zoho apps, overcoming departmental silos.

Earlier this year, GST Network (GSTN) said it had started offering free accounting and billing software to MSMEs with an annual turnover of up to Rs 1.5 crore, which would benefit about 80 lakh small businesses.

GSTN Chief Executive Prakash Kumar said the move would help MSMEs to move towards digital systems so that their efficiency could be improved and their compliance burden could be reduced.

The GST Council had, in January, approved the proposal of providing free accounting and billing software to small businesses with up to Rs 1.5 crore turnover.

Published On : 17-06-2019

Source : SMB Story