GST aims to bring about uniformity in the manner documents are prepared and circulated to make sure that they have some minimum standard information. This is also the condition for them to be acceptable while filing GST returns. It is now mandatory for businesses to prepare standardised invoices, Credit debit notes and E-way bills. In such a scenario it is a boon to receive a solution that provides automation for Document Generation that creates all such documents as well as, has capabilities to integrate with the existing systems.
The need for creating standardised documents
Consider a typical case of a business where thousands of invoices are prepared daily and need to be consistent in formats. Or a scenario where several vendors who have different invoice and other document formats raise invoices on the business daily. In such a case preparing GST compliant invoices and making sure that they meet all criterion and bringing the vendors on the same level of standardisation is very important.
A part from this there are several other documents like the credit-debit notes that need to be prepared and uploaded on the GSTN portal along with the invoices. This calls for a solution that can make Document generation easier and efficient at the same time.
GST requirements for Invoice formats
Under the GST system, the GST compliant invoice formats have been defined with the following details to be given mandatorily like Name of Customer, Date and Invoice number, Billing Address and Shipping Address of customer, GSTIN of Tax payer and Customer (if registered), Place of supply, HSN Code (Harmonised System of Nomenclature Code), Quantity, description or other relevant item measure/details, Taxable value/applicable discount, GST rates and total GST charged including details of applicable CGST/SGST/IGST for the item and Signature of the supplier.
Hence an automated solution needs to capture all the details required under the applicable GST laws. Apart from this there are a few other features that can make the entire document generation way more effective for a business, like auto signing, e-signing facility, DSC support, password protection, emailing feature where one can send invoices directly to customers and many more.
Document Management Module by Cygnet GSP
Cygnet ASP-GSP Solution has recently introduced a new module “Documents”. Using this module user can generate any type of documents.
It is replete with many useful capabilities like
· User can send these documents as PDF attachment via email to their customer with different set of PDF template customization.
· User can move these, documents for E-way bill generation & track details of E-way bill from the application itself. The purpose of the module is to create centralized module using which user can achieve any functionalities related to documents.
· Document can also be exported as sales register and purchase register for further utilisation and filings.
Cygnet has central document module which can store data related to both sales and purchase and provide data for sales register and purchase register for filing.
Key Features of Document Management Module are as below
- Quick & Bulk search – to enable locating a document whenever required
- Filter by month, location, supply type, sub supply type, document type, status, email status, move to EWB status, source type, from & to date time, show only amendment data & show records uploaded by me only. – These functionalities help in making sure your search is fast and accurate.
- Add document manually – to aid addition of a document that the system might have missed out on.
- Upload documents in bulk – to enable faster upload of documents.
- Delete All Documents – to enable deletion of all the erroneous or unwanted documents in one go.
- Download in CSV format – to enable data download in a format that is user friendly.
- Move to E-Way Bill – to make sure that just by moving the data E-Way bills is generated automatically.
- View Document Details
- View E-Way Bill Details
- Send document via Email
- Print document
- Edit document
Transaction Data can flow to this module by
- Direct Integration with SAP
- Manual Transaction Entries
- Bulk Upload by Excel
- Document module can work as a repository for both inward and outward documents and can be separated by filters for further utilizations like for GSTN Return Filing and EWB Generation.
- If Cygnet ASP and EWB are being used by customer, then they can directly move document for filing or EWB Generation
We may conclude from the above that most of the critical functions of preparing accurate documents under the GST laws have been addressed in the Document Management Module by Cygnet GSP. The Module is replete with many more such functions that make sure that document generation, management and sharing is easier and fast.
Invoice generation under the GST regime has become a tedious affair and the formats have also been defined under law. Automation can go a long way in such a scenario to ease the burden of creation of thousands of invoices, credit debit notes and E-way bills daily by large businesses. Document Generation module by Cygnet can also be used to define formats for vendors so that you receive standardised format invoices across the organization.
Cygnet GSP is committed to providing cutting edge technologically driven solutions to file your GST returns easily with speed and accuracy. We strive to make your business a priority by simplifying GST return filing through our IT solutions. We live by our belief of ‘IT is about you’.
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