It is not an easy task to run a small and medium enterprise (SME), especially when it is a one-man show. Business owners have to look at various aspects of running a business such as working capital, equipment, manpower, latest trends, marketing, sales, and more, due to which they often get no time to focus on business expansion and other activities.
Apart from business operations, they also face challenges while accessing credit and risk capital, addressing infrastructural bottlenecks, facilitating capacity building, etc.
One of the challenges they also face is multiple registrations and online taxation. It’s been over two years since its launch on July 01, 2017, still majority of SME owners are unable to file the Goods and Services Tax (GST) without any hassles. Even though the GST Council has taken several steps to simplify the process, it remains a real challenge for business owners.
As the year 2019 ends, business owners are still dealing with Harmonized System of Nomenclature (HSN), GSTR 2A, GST 3B, GSTR 9 and 9C, and more.
As per a World Bank document, there are still issues with matching of B2B invoices, uploading information on tax returns, etc.
In this scenario, it is important for the government and private players to help SMEs in smooth filing of the GST. In a bid to assist the business owners, Moneycontrol has introduced one-stop shop for all the GST needs.
Moneycontrol’s Easybiz has come out with digitization tools that will help business owners in hassle-free filing of GST returns including GSTR-1, GSTR-2A, GSTR-3B, GSTR 9A, 9C and GSTR 10.
Thus, the online tool will also help taxpayers to file GST in minimal steps without any operational challenges.