GST

Any ERP for every business is to stay fully law compliant. With new GST laws coming into force form July 2017, it has become mandatory to act fast and make necessary changes in IT systems and ensure smooth transition from old tax laws to new ones.

PunjabBulls is ready to not only enable their IT systems fully compliant with new GST laws but also make them strong enough to eliminate risks of mistakes.

PunjabBulls has already implemented the hotfixes with the help of Chartered Accountants & Management Accountants and ERP consultants to offer Indian GST enablement services under different packages. Some of the areas where we provide services for GST compliance are as follows:

  • Transition of tax credits from pre GST tax era to GST tax era.
  • Transactional adjustments for return of goods sold or purchased before GST and returned after GST implementation, stock in transit.
  • Changes in output reports such as invoices, purchase orders, quotations, etc.
  • Undertake analysis for business areas that are anticipated to be affected by GST.
  • Identification of various potential issues in IT systems to address compliances that still remain out of IT systems ambit.
  • Bringing current IT/ERP systems to appropriate version to enable patch application.
  • Careful mapping of changed business environment in relation to areas such as interstate stock transfers, subcontracting, tax-related inward and outward processes etc.
  • Changes in tax calculation procedures and change requirements for monthly tax returns will require configuration in ERP systems.
  • Making necessary master data amendments such as amendments in chart of account, material master, vendor master, customer masters, price masters, etc.
  • Before applying GST patch, making sure that all customisations are taken into account User acceptance test (UAT) support services Post implementation support services to provide to remain statutory compliant.

You are advised to stay updated and GST enabled ERP systems on time..