Quick Sale 8.0

India's First GST Ready Business ERP Software that is suitable to support almost every kind of business. If you are a Retailer / Wholesaler / Distributor / Manufacturer / Accountant / CA / Broker / Commission Agent, this software is for you.

Specialized for any kind of business be it a Supermarket, Mobile Shops / Computers / Electronics / FMCG Dealers / Automobile / Spare Parts / Book Shops, Bakeries, Grain Market, Pesticides, Fertilizer, Seeds, Invertor/ Battery, Bags, Bakeries, Sweet Shops, Electrical goods, Kitchenware, Gift houses, RO Filters, Jewellery, Grain Market Commission Agents. Almost every kind of business can be managed using Quick Sale 8.0 GST Software.

A Complete Business ERP Software that caters to every need of modern day business tycoons. Richly featured with Accurate Accounting, Powerful Stock Managment, Barcode Printing, GST Billing To Reporting, Multiple User designable Bill Formats, SMS Plugin / Email / EBill Facility, Label Printing, Cheque Printing, SMS Plugin, Multi Company management, Automatic Backup and highly protected with User Rights Management. Excel Import / Export feature gives the user an option to switch from any software to Quick Sale 8.0 GST Software.

Everything related to GST right from GST Billing to Returns, just need to start your billing and you will see all the reports like, b2b, b2cl, b2cs, hsn summary, exports, nil rated, Expense Voucher, Reverse Charge Entry, Ecommerce Sellers Sale Entry, Advance Receipts, ITC, Non ITC, GSTR3B, GSTR-2 everything generated automatically at a single click.

Implementing Quick Sale software is quite easy. No Accounts or computer training required, no experience required. Anyone with knowledge of basic computer operations can operate it very comfortably. Download Quick Sale 8.0 GST software and start using.

 

Goods and Services Tax (India)

What Is GST?

Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill. The GST is governed by GST Council and its Chairman is Union Finance Minister of India - Arun Jaitley.

Introduction of Goods and Services Tax (GST) is a step in the reform of indirect taxation in India. Amalgamating several Central and State taxes into a single tax would mitigate crusading or double taxation, defoliating a common national market. The simplicity of the tax should lead to easier administration and enforcement. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated at 25%-30%, free movement of goods from one state to another without stopping at state borders for hours for payment of state tax or entry tax and reduction in paperwork to a large extent.

A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council. GST is expected to be applicable from 1 July 2017.

Why GST?

VAT rates and regulations differ from state to state. And it has been observed that states often resort to slashing these rates for attracting investors. This results in loss of revenue for both the Central as well as State government.
On the other hand, GST brings in uniform tax laws across all the states spanning across diverse industries. Here, the taxes would be divided between the Central and State government based on a predefined and pre-approved formula. In addition, it would become much easier to offer services and goods uniformly across the nation, since there won’t be any additional state-levied tax.
GST rollout missed several deadlines due to disagreement among many states over certain important issues on the new tax reform. However, as per recent reports, GST is scheduled for a nation-wide rollout on April 1, 2016.

Advantages of GST:

1. Revenue will get a boost
- Evasion set to drop - Input tax credit will encourage suppliers to pay taxes - States and Centre will have dual oversight - The number of tax-exempt goods will decline.
 
2. Logistics, inventory costs will fall
-Checks at state borders slow movement of trucks. In India, they travel 280 km a day?? compared with 800 km in the US.

3. Investment boost
-For many capital goods, input tax credit is not available. Full input tax credit under GST will mean a 12-14% drop in the cost of capital goods. Expected: A 6% rise in capital goods investment, 2% overall.
 
4.Composition scheme for small businesses
-GST also has an optional scheme of lower taxes for small businesses with turnover between Rs. 20 to 50 lakhs. It is called the composition scheme. This will bring respite from tax burdens to many small businesses.
 

5.Simpler online procedure under GST

-The entire GST process – starting from registration to filing returns and payment of GST tax – is online. Startups do not have to run around to tax offices to get various registrations under excise, VAT, service tax.

Implementaion Of GST?

Seventy years of indirect taxation framework of India is giving its way to a unified tax Goods and Service tax (GST) regime. Federal structure of Indian polity required on boarding of some 30 Indian States before GST could have been on its way for rollout. The convergence of Central-State Government and ruling -opposition political parties took almost a decade, missing several deadlines, before implementation from 1 July 2017, appeared to be a reality.

The policy matters were finalised at two levels, Central and States before both stakeholders merged to form 'GST Council', a body entrusted to make fundamental decisions such as implementation date, draft law, rules, and rates. The Council did about a dozen meetings and reached consensus on various issues such as division of powers for assessment of tax payers between Central and State Government, formulation of law, draft rules and finally the rates during the last 8 months.

The law is passed by the Central Government and about one-third State Government, so far. Remaining State Governments are expected to pass the law in a month's time.

Implementation of GST on an electronic filing system required putting together a sound IT infrastructure. Goods and Service Tax Network (GSTN), non-profit company, was tasked with implementation of the portal that is meant to serve as a communication channel between Government and tax payers. One of the key features of Indian GST is 'matching'. Which means correlating the tax paid by the suppliers with tax credit claimed by its customers. This would require uploading transactional level voluminous data into GSTN. GSTN has made steady progress and its portal is undergoing testing. Application programme interface (APIs) is also made available recently for testing in the sandbox environment by the GSTN to help the taxpayers gear up for the massively detailed level of filling.

The GST Council's recently concluded a two-day meeting on 18 and 19 May, has been by far its most productive meeting. It has finalised the rules where minor tweaks has been done. The final rules would help freezing requirements around the IT systems, designing internal processes and compliance functions. The Central and State Governments would soon notify the Rules.

It has also agreed on classification of goods and services into 5-tier rate structure (nil, 5%, 12%, 18%, 28%) based upon Harmonized System of Nomenclature (HSN) code. Finer look at the rate on goods reveals that the Government has done a good job in classifying goods into the rates closed to the existing rates. There has been some exceptions as well, such as solar photovoltaic modules which has been taxed at 18% rate, from almost zero rate of tax under the current system of taxation, when supply of electricity has been kept outside GST net.

With around 40 days to go-live, the Government needs to step up its efforts in educating the tax payers and providing test access to each tax payer to the GSTN portal to experience the GST filling requirements, besides bringing clarity on the pending issues.

Some tax payers also believe that both Government and tax payers would benefit, where a 90 days clear window is available for preparation with full visibility about the final law including the rules, favouring the implementation to be postponed to 1 September, 2017, one last time. However, the Government appears to be bracing up for the GST roll out from 1 July 2017.

Calculation of GST?

When adding 10% to the price is relatively easy (just multiply the amount by 1.1), reverse GST calculations are quite tricky: To figure out how much GST was included in the price you have to divide the price by 11 ($220/11=$20); To work out the price without GST you have to divide the amount by 1.1 ($220/1.1=$200)



Particulars

Value and Tax amount under GST (in INR)

Value and Tax amount based on current rates (in INR)

Value to the Manufacturer

Cost of Production

1,00,000

1,00,000

Addition of 10% Profit Margin

10,000

10,000

12% Excise Duty

13,200

-

Total Cost of the Production

1,23,200

1,10,000

Addition of 12.5% VAT

15,400

-

Addition of 6% SGST

-

6,600

Addition of 6% of CGST

-

6,600

Invoice Value for the manufacturer

1,38,600

1,23,200

Value to the wholesaler

Cost of products

1,38,600

1,23,200

Addition of profit margin @10%

13,860

12,320

Total Value

1,52,460

1,35,520

Addition of 12.5% VAT

19,058

-

Addition of 6% SGST

-

8131

Addition of 6% CGST

-

8131

Invoice value to the wholesaler

1,71,518

1,51,782

Value to Retailer

Cost of products

1,71,518

1,51,782

Addition of profit margin @10%

17,152

15,178

Total Value

1,88,670

1,66,960

Addition of 12.5% VAT

23,584

-

Addition of 6% SGST

-

10,018

Addition of 6% CGST

-

10,018

Invoice value to the wholesaler

2,12,254

1,86,996

 

What is SGST, CGST & IGST?

The GST to be levied by the Centre on intra-State supply of goods and/or services is Central GST (CGST) and that by the States is State GST (SGST).

On inter-state supply of goods and services, Integrated GST (IGST) will be collected by Centre. IGST will also apply on imports.
GST is a consumption based tax i.e. the tax should be received by the state in which the goods or services are consumed and not by the state in which such goods are manufactured. IGST is designed to ensure seamless flow of input tax credit from one state to another. One state has to deal only with the Centre government to settle the tax amounts and not with every other state, thus making the process easier.

Why are we getting 3 taxes -SGST, CGST, IGST?

India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes. Both the levels of Government have distinct responsibilities to perform, as per the Constitution, for which they need to raise resources. A dual GST will, therefore, be keeping with the Constitutional requirement of fiscal federalism. The Centre and States will be simultaneously levying GST. 3 taxes will be implemented to help tax-payers to take credit against each other thus ensuring “One nation one tax”.

GST Enrolment – HSN Codes

About Us

About S B Infotech

We are associated with the it industry’s since 2010 and we provided the technical support to the industry and also deals with the developing the software and website Designs. Our mission is to provide a range of easy to use business applications that form a complete suite of tools to a company any business need. Make business software should cover complex needs without being complicated.
We provide full feature web services including E-commerce solution. We act as an offshore development centre for overseas development firm. We take pride in providing a striking visual as well as communication platform. Which enables our esteemed customers to present their business profitably and effectively?
We developed the software, Website and online ERP system for the companies and academic sector with high quality accessories and services that’s give you paces of mind during your work and keeps you updated.
S B Infotech is Software Company which consists of dynamic and innovative people we build customized software products for the industries providing them business solutions.
Efficiency and Effectiveness is what we see in providing customization software product. We believe that customization is the key to customer satisfaction and his business growth.