There are several tools concerning GST which make the GST registration and GST filing process quite easy. They are simple to use and efficient in nature. Let’s have a brief description of them below:-
GST API
What is GST API?
GST API is a type of application programming interface which comes under the purview of Goods and Services Tax. API acts as an intermediary between two applications so that both the applications can interact with each other. Since GST requires cumbersome and complicated compliances to adhere with. API or application programming interface is an essential part of the GST compliance and helps in easing it or making it easier for the taxpayers.
How GST API (Application Programming Interface) can be accessed
GST API (Application Programming Interface) can be accessed via the following steps mentioned below:-
- A taxpayer can carry out GST (Goods and Service Tax) compliances via different methods. One of them is via third-party applications.
- These third-party applications can connect with the Goods and Services Tax system via secured and encrypted GST system APIs. These APIs as already mentioned act as intermediaries between two applications.
- GST APIs are safe and secured in nature. These applications can also be developed by third parties also known as GST Suvidha Providers (GSPs).
- These third-party applications can pull out or retrieve the essential and required data from the GST portal and are able to provide efficient and beneficial results using GST APIs.
Benefits of Using GST (Goods and Service Taxes) APIs (Application and Programming Interface)
There are a plethora of benefits and advantages of using GST Application Programming Interfaces. These are given below:-
- GST API helps in providing integration with the ERP or accounting system of the taxpayers.
- They are safe and secured in nature. They provide accurate results with zero errors and with minimal to zero manual work.
- GST APIs are equipped with advanced technology and smart system, thus providing results with more than 80% of accuracy even when the GST servers are down.
- APIs take less time to sign in and generating API keys and running requests take very less time, thus it saves time. Also, APIs provide faster response time and generate prompt results.
- GST APIs can view or save different GST returns, helps in checking GST return status and make quick payments.
GST Software
What is a GST Software and its functions
GST software is a type of online software tool that simplifies the businessmens’ GST billings, filings returns (GSTR-1 and GSTR-2) and GST invoicing issues. It reduces the manual work and it is best for the companies who want to increase their productivity and efficiency and effectively manage their finances, accounts and other tax management processes.
GST software is best for filing e-filing returns. GST software reduces manual work and is autonomous in nature.
Online filing of e-filling returns via GST software reduces the scope of human error. GST software is versatile and accurate in nature.
Benefits of using GST Software
There are so many benefits of using GST software. They are given below:-
- Easy generation of the online invoices as per the guidelines of the GST Act
- E-filing for all types of dealer returns
- Easy and convenient E-payment facility of taxes as per GST rates
- ITC report generation
- Easy reconciliation with GST online portal
- Maintenance of cash and credit ledger and tax liability register
GST Verification API
What is GSTIN
GSTIN or Goods and Services Tax Identification Number popularly known as GSTIN is a unique number assigned to every GST-registered person in India. Before the implementation of the Goods and Service Tax Act, i.e before July 2017 all the dealers registered under the state VAT (Value Added Tax) were assigned a unique TIN or Tax Identification Number by the respective tax authority. The GSTIN has replaced the TIN and now all the registered GST taxpayers are consolidated under a single platform.
What is GST Verification API
GSTIN or GST verification APIs are the type of programming interface which verifies the GSTIN and also verifies the registration of an entity. Large businesses can perform regular GSTIN verification checks to ensure safety and also to adhere to mandatory taxation compliance.
GSTIN verification APIs or GST verification APIs are efficient, versatile and trustworthy in nature. They are fully capable of operating in any situation. GSTIN verification API gives accurate results associated with one’s GSTIN. It’s a quite simple process, the person just needs to enter his or her GSTIN number and the API will directly verify his or her GSTIN number. Not only the verification part, but one can also check the validity of his or her GSTIN number and the company’s data associated with it.
Benefits or Advantages of Using GST Verification APIs or GSTIN Verification APIs
There are several benefits of using GST verification APIs (Application Programming Interface). These are given below:-
- GST verification APIs are quite simple in nature. Even a layman can use it and they are very user-friendly.
- They are safe and secured in nature and generate accurate results in a nick of time.
- GST verification API can easily detect frauds and other suspected behaviour. It can easily detect fake GSTIN holders.
- Since GST verification APIs are equipped with smart and modern technology, they are very versatile, accurate and generate prompt results, thus saving a lot of time.
- They always give accurate results with zero to minimize errors.
