The Goods and Services Tax, popularly known as GST has affected all industrial sectors in a number of direct and indirect ways. This has led to most companies, whether small, mid-sized or multi-national corporations adopting GST software to help them manage accounts, taxes, inventories, and ledgers.
Looking for GST Software? Check out SoftwareSuggest’s list of the best GST Software solutions.
GST calculator software is a holistic diverse tool that automates lengthy manual calculations and brings about operational efficiency with respect to timely payment of taxes. A time-saving, cost-saving and customizable system, GST reconciliation allows users to access data anytime and anywhere.
Choosing the perfect GST software for your organization may seem to be a challenging task, however, they are tons of variants by reputed vendors. Make sure to assess your business requirements and model before investing in the perfect GST calculator software for your business. If you are on the lookout for the perfect GST calculator software for your organization, check out our compiled list of the best 6 GST calculator tools available in the market:
Best GST Calculator Software for Businesses
A comprehensive GST calculator software, ClearTax has inbuilt modules that facilitate income tax e-filing, tax compliance, and accounting. It has advanced reconciliation features and can help organizations streamline all tax-related activities.
- Inventory and tax management
- Transaction tracking
- E-way bill generation
- Data import/export
- Billing and Invoicing
- Business reporting templates
- Imports data easily from ERPs such as Excel and Tally
- Intuitive dashboard with real-time data
- E-mail and SMS alert facility
- Does not support mobile platforms other than Android
- The trial version could have more features
A popular GST calculator software, MasterGST has all the essential features required by organizations to handle their taxation and accounting processes in a smooth manner. It can be used to calculate both inter and intrastate tax, thereby making it an ideal platform for tax professionals of small to medium business enterprises.
- Bank reconciliation
- Billing and invoicing
- GST returns filling management
- E-mail integration
- Purchase and sales management
- Data security and backup
- Single one-point dashboard with robust features
- A user-friendly system with a navigable interface
- Excellent customer support
- Does not have an API
- Could improve the speed of upgrades
3. Tally ERP
One of the most famous accounting software in India is Tally ERP, Tally ERP software solutions can fasten the GST calculation process of any organization. It is well-equipped with the latest features in sales, inventory, accounting, and compliance management.
- Visual dashboard with current data
- CRM and sales management
- Detailed invoicing templates
- GST implementation
- Report generation
- Income tax e-filing
- Implements all statutory compliances related to VAT, GST, and TDS
- High functionality, accuracy, and speed
- One-click report creation
- Not on a cloud storage basis
- No web version is available
- Mobile or tablets are not supported
A widespread and popular GST calculator software, Softwaresea caters to all the diverse taxation and accounting needs of businesses. It is a fully automated tool that can instantly calculate GST and other corporate taxes, thereby ensuring that the organization stays compliant to all required regulations.
- Automated tax filing
- Advanced Reporting
- Sales tax exemption management
- Pre recorded GST Exemption list
- Pre-built Integrations
- Centralized tax management
- Compatible with a number of systems
- Highly secure and up-to-date platform
- Excellent customer support and community
- High control over data access
- Lacks basic inventory management features
- Requires certain advanced GST tax preparation features
A free online GST calculator software, EasyCalculation is a structured system for Indian businesses to streamline their tax practices and regulatory mechanisms. It has a speedy and accurate calculator that can help managers know the exact amount for Central and State Government taxes for a particular business organization.
- Currency conversion
- Multi-language support
- GST computation
- Automatic challan generation
- Integrated Data Import and Export
- Active on-chat support and assistance
- Ideal for multi-branch enterprises
- High degree of customization
- Free upgrades for better compliance
- Could have more reporting templates and features
- Does not have advanced GST tax filing and preparation features
A simplistic and user-friendly online GST calculator software, RapidTables has a number of options that can help in basic accountancy, tax management and compliance for organizations. It is an agile, responsive and feature-rich tool that can save managers tons of time, money and effort.
- Multi-layered security mechanism
- Comprehensive GST calculation and report generation
- Transaction tracking
- Data import/export
- Online GST portal
- E-payment facility
- User-friendly dashboard with up-to-date real-time data
- Seamless data security and accuracy
- Holistic GST compliance suite
- Needs to have quicker upgrades and more advanced features
- Customer support needs to be improved
7. Magento 2 GST Extension
Magento 2 GST extension by Meetanshi facilitates auto calculation and applying GST on customers’ purchases. It has been developed to meet the standard and norms of GST tax rules in India. As calculating GST is a bit cumbersome task, so integrating Indian GST rules in Magento 2 would make it easy for the store owners to calculate GST.
- Apply GST product specific with Magento 2 GST extension.
- GST can either be calculated on the shipping address or billing address.
- Easily compatible with all Magento 2 product types.
- Easy to integrate and configure.
- Should set minimum product price to apply GST rates.
- Can easily GST on creating orders from the backend.
- Facilitates easy GST calculation.
- Quick division of SGST and CGST for the intra-state transactions.
- Saves time for the store owner.
- The GST management process becomes easier and more efficient.
- The reverse charge mechanism is absent.
If you want to increase your bottom line results and boost operational efficiency, do go ahead and invest in GST software for your organization. Getting the perfect GST calculator software is sure to have a positive impact on Gst credit, tax management, accountancy, and compliance, thereby can help your organization gain an instant competitive edge!
Amaey Anand is a certified accountant with over 10 years of experience in the finance industry. He has worked with various organizations to streamline their petty cash management processes and reduce inefficiencies. He has also written several articles on financial management for leading publications such as Zensuggest and The Wall Street Journal.