The GST Council in January approved the proposal of providing free accounting and billing software to small businesses. Today GST Network has announced that they have partnered with eight billing and accounting software vendors for providing software to the micro, small and medium enterprises, which are having annual turnover of less than Rs 1.5 crore. This free accounting and billing software to MSMEs would benefit about 80 lakh small businesses and software would help businesses create invoices and account statements, manage inventory and prepare GST returns.
As per the PTI report, This software providers offer basic features like sale/ purchase/ cash ledger, inventory management, supplier/ customer masters, generation of invoices, preparation of GST returns for free, while some of the services like an additional feature like bank reconciliation, account receivable would be chargeable. One should know that the said software is available under the ‘Download’ tab on the official GST portal which is www.Gst.Gov.In.