The Indian economy is on a revival path after the unprecedented and challenging situation faced during the covid period. Among the several financial indicators, the data relating to Goods and Services Tax (GST) collections reveals a buoyant economy. GST collections have continuously exceeded Rs 1.40 lac crore over the last six months which is a positive sign of revival at the macro level. The GSTR analysis software is designed to help businesses fetch data from online government portals and simplify the registration and filing of complex data.
Benefits of GSTR Analysis Software
The GSTR analysis software can act as an indicator to depict the financial position of an enterprise, be it an MSME or a large corporate. The GST Analyzer tool can therefore come in handy for the lenders like Banks /NBFCs and FinTech in using it as a tool for assessment of credit proposals and for arriving at effective credit decisions. The GSTR Analysis tool analyses raw data from the GSTN server to provide you with detailed insights on various sale and purchase transactions to the lender over a specified time period. This tool also defective or returned items, routine transactions as well as overall transaction trends. It simplifies invoicing by automatically computing all taxes. One significant advantage of the software is that it stores all paperwork at one place, making it convenient to access from anywhere, at any time. It offers real-time data checking and validation, cash flow management, and payment analysis.
A robust GSTR analyzer software with sales and purchase details provides a segment-based contribution percentage that offers insights into the business's major areas of concentration. The analysis reveals the taxable amount and customer compliance level, as well as geographical spread, details of major customers/suppliers, particulars of unrelated transactions, if any, and the seasonal/cyclical nature of the business. The software saves time for private lenders, banks, and other financial institutions by delivering ready-to-use reports with relevant insights.
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