Denprotech Solutions for GST Compliance, E-Way Bill and Payment Block Indicator
India is a fast growing nation with GDP crossing $3.2 Trillion in which the MSME’s plays a very crucial role. Since 2021 the minimum annual turnover limit for defining MSMEs has been reduced to 1cr because of which a hefty amount of industries started looking for automating the process of uploading the E-Invoices through their ERP software’s to the GST filing mediator’s portal.
This is where we a SAP software solution provider steps up with a product for GST Compliance called as GST Connector Suit, here SAP is used as a tool to push all your Purchasing and Sales Data (that is your E-Invoices) to the third party GST filing software. Industries as a SAP end user can save their lots of time, all they have to do is execute a programme and it will pull up all their invoices in an extractor and then it can be pushed onto the Government Portal with few clicks after validating it on the 3rd party GST filing software.
Benefit of our Products
GST Compliance – Any industry using SAP as its ERP software wants to save time and automate the process of uploading invoices for GST filing, and that’s where our product comes in. It enables you to draw up all the data into the extractor programme for several modules at once and move it forward.
Before uploading the invoices to a third party portal, the user can also use this feature to check for errors. In addition to GST compliance, we frequently use other solutions like E-waybills and payment blocks.
E-waybill – Due to the updated government regulations, MSME’s are adopting SAP as a tool to generate their E-waybill, which saves them a tonne of time and effort and is required whenever there is a movement of products worth more than Rs. 50,000 to or from a registered person.
Payment Block – For the buy and sales transactions for which the industries must file GST returns, it has been a pain point for the industries that frequently their vendors postpone doing so. As a result, the industries have had to wait until the vendors’ transactional data appears on the government platform. Since these vendors frequently take a while to transmit their financial transaction data to the government site, we provide a solution called Payment Block Indicator which automatically blocks the vendor for making any kind of payment hence making it easier for users to comply with GST norms.