With the GST rollout taking place on July 1, the nation has finally come under a unified tax system. But, this has also led to some teething issues for many small businessmen who are struggling to get things in order.
The worst hit today are the traders in retail and wholesale markets across India. For years together, they managed their businesses dealing only in hard cash. Then came demonetization as the first big blow and now the GST. Even though they all support GST, the smalltime traders are forced to employ an extra staff just to manage their monthly GST compliance filings.
To avoid all this and help such traders in Karnataka’s Chickpete area, two final year students from the Department of Electrical and Electronics of PES College of Engineering in Mandya under the guidance of their Professor Dr. R Girisha have over a period of 8 months come out with their Kubera GST App, reports India Today.
This App can be used for accounting, book keeping and GST rules and regulations as per the Government of India.
The Kubera App as claimed by the developers outperforms similar products in the market and the best part is that it requires no internet connection. A trader who downloads this App can use features such as inventory management, support for manufacturing, payroll, cloud-based, anytime data access and GST-compliant. All this work can be done by traders on their mobiles itself as Dr. R Girisha explains saying, "85% of the smartphones are based on Android and hence this makes it easy for all to use and the only investment here needed is a smartphone."
KUBERA APP CAN BE USED BY ANYONE
Rakesh G and Shailaja GC explain how traders in the Chickpete area can be benefitted from this. The main problem they face today is because they are many input fields that are needed to be entered while keeping accounts. This makes it mandatory to know where to input data for direct and indirect taxes. So what these students did with the App was to make it as user friendly as possible. They designed algorithms such that it learnt complete accounting process and did the job automatically. What is required is to just input minimum details like income and expenses.
Today there are applications for Point of Sale and Accounting which are different. Once the billing is done, the traders need to collect all the invoices and then do the accounting later. Kubera GST App simplifies all this in that while the invoice is generated, the accounting part is also accomplished.
"There is POS solution and Accounting solution in one software and the whole process becomes completely easy," Rakesh G says. He further added that the final output is compatible to be uploaded on the GST server with all the fields filled completely.
HOW DOES KUBERA GST APP WORK?
Rakesh and Shailaja explain to India Today just how easy it is to operate this App so much so that almost 600 odd traders have already started to use it since July 1. After downloading the App and securing it with a number password, the application opens up.