Digital Data Exchange for GST Compliances
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Accxchange Transactions Worldwide Pvt. Ltd. has developed a digital data exchange platform that facilitates real-time data and transaction exchanges for businesses, specifically tailored for SME accounting software like Tally and Busy. This platform allows users to generate automated GST compliance with digital invoices, enabling seamless connectivity between taxpayers and the GST portal. Additionally, it offers solutions for sales reporting and invoicing, contributing to the Digital India initiative by improving the efficiency of tax filings and bookkeeping for tax compliance.
Digital Data Exchange for GST Compliances
- 1. AccXchange Transactions Worldwide (P) Ltd. accxchange.in 21 , Badal Textile Market , Udaipur Road, Bhilwara-311001, Rajasthan, India (CIN : U72900RJ2015PTC047791) Boardline : +91-7822094210, Email : info@accxchange.in Automated GSTN Compliances with Digital Invoices for customers – Connecting GSTN to Accounting Software like Tally & Busy, used by 80% of SMEs in India We built a Digital Data Exchange platform named as AccXchange that enables business to exchange data digitally and empowers Digital India Initiative. Businesses can build a network of the trading partners such as suppliers and buyers to exchange transactions and data digitally in real time. On AccXchange platform, we built ready-made solutions for Electronic Data Interchange for accounting applications like Tally and Busy, being used by 90% of the SMEs in India and have plans to add more as ongoing basis. There is an AccXchange Client for Windows that establish connectivity through private IP –the most secured way of computer to computer communication and facilitates that transactions are being transmitted digitally in real-time between buyers and suppliers. The receiver can review and post these transactions in its books of accounts. For example a sale invoice is transmitted to the respective buyer and then the buyer can review and post this sales invoice as a purchase invoice. We enhanced this solution for Sales Reporting for GIONEE Mobile brand for IMEI Stock tracking. This enables GIONEE dealers to send digital invoices to customers and report Mobile IMEI movement into centralized sales tracking solution used by GIONEE. The same Digital Data Exchange platform can enable connectivity between GSTN Tax Payers and GST Compliances Portal. Tax Payers would be able to file tax returns at all the levels of granularity like aggregate level, dealer level, invoice level and line item level from day one.
- 2. AccXchange Transactions Worldwide (P) Ltd. accxchange.in 21 , Badal Textile Market , Udaipur Road, Bhilwara-311001, Rajasthan, India (CIN : U72900RJ2015PTC047791) Boardline : +91-7822094210, Email : info@accxchange.in This filing can be a real time sales and purchase reporting automatically in the background or at a click of button directly by the Tax Payers who are using any accounting software. We can deliver a ready-to-use plug and play solution that works with Tally and busy software being used 80 % of Indian Tax payers and API for others. The added benefit is that digital invoices enables Tax Payers to record purchase invoices instantly and accurately and hence purchases can be also filed to GST Portal in real-time without any extra efforts. The same system enables permission based access to any ledger account of Tax Payers and will be helpful in assessment proceeding etc. Product Taxonomies with tax rates would be importable and Tax Payers can map their own terminology of stock items with product (SKU codes) / services taxonomy for GST purpose. This technology is available as a platform, ensure 100% delivery and in the most secured way and we will share all such technical and solution details in greater detail considering the need of seamless digital tax connectivity between tax papers in addition to GST portal as and when available. Thus AccXchange platform can enable connectivity and data transfer in real-time from Tax Payers books of accounts to GST portal and vice versa for varied needs and ease the process of managing Books not only for accounting purpose but also for GSTN compliances and that will be a great idea to support Digital India Initiative of Govt. of India. CA B.C.Chechani Cell : 8875627151, Email: ca.bc.chechani@accxchange.in