GST HSN code App - A Breakthrough Innovation
"This case study showcases how the GST HSN code app developed by Winjit helped the MSME business owners to keep a record of the HSN codes of the products they deal in, the GST rates of each product, the forms required for filling GST on the net and necessary information about the CGST, IGST and SGST."
Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. Although GST brought the county under a unified tax regime, it also led to some teething issues for many small businessmen who are struggling to get things in order.
The app was intended to bring ease in adapting the GST for the small and medium business owners. The app was also designed keeping in mind the unorganised business sector such as: medical stores, grocery store owners and other micro enterprises.
With the introduction of GST, the SME owners faced a lot of problems in terms of billing and maintaining the HSN codes of the products related to their business, the GST rates that is levied on those products and the to keep a record of their GSTIN and also that of their clients and suppliers. There are more than 3500 million invoices processed in India by 9 million unique GST complaint tax payers. That means there is an exchange of GSTIN 31500 million times. There was a dire need to introduce uniform platform for sharing the GSTINs.