Every business requires the invoicing process. An accurate invoicing system will keep records of the purchase, sales, and can also act as proof during the time of accounting audits.
Many business use accounting softwares for invoicing but they are not that simple and therefore remains a challenge especially after the inception of GST.
Many small businesses do not comply with GST and they still follow the method of manual invoicing which is not feasible.
As part of the initiatives by the government, there has to be an automated process and simple invoice solutions so that the small businesses are able to deal with the issues of GST like paying high invoicing processing costs, go through the time-consuming processing times, lack of knowledge of tax components, and a few more.
The government might soon start working on making some innovative GST invoicing solutions along with some GST ready invoicing, and invoicing software.
Some of the private companies are developing apps that might be able to make invoicing easier for small businesses.
After a strong and systematic invoicing system is in place, the small businesses would be able to have a proper accounting system.
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