GST Impact on Services

GST will have a great impact on the services industry. Make sure you understand how your business is affected.

The Indian government plans to introduce the Goods and Service Tax (GST) in July 2017 with the hopes to streamline the tax system, make it more transparent and easier to comply with. Some other positive changes of GST would be tackling the inconsistencies across the belt of indirect taxes or making tax across transactions more trackable.

One of the sectors that will be greatly impacted by GST is the services sector. For instance, now, all service providers have to register only once, at the central state, but in GST, they will have to register in every state where they operate. Even though this will have a negative effect on the activities of many companies, individual states are in favour of this measure to ensure their portion of the revenue.



GST for IT

Learn More

GST for Manufacturing

Learn More

GST for Startups

Learn More

Some key changes for service providers:

Now

now

General tax rate of around 15 % (including cesses)

now

Single centralized registration system for paying service tax

now

File up to 3 service tax returns in one year

now

Difficult to get input tax credit on certain services.

GST

gst

Tax rate of 18 %, up to 20 %

gst

Register in every state they operate

gst

File up to 37 returns/state, in every state they operate, every year

gst

Input tax credit can be claimed on SGST/CGST and IGST


Some key changes for service providers:


  • Service Providers ChangesCompliance: Difficult to keep track of all invoices and properly file all tax returns
  • Service Providers ChangesIncreased costs: bigger taxes might make services less attractive to clients, causing loses.
  • Service Providers ChangesCash flow: GST returns are filed up to 3 times/month, businesses need to make sure their invoices are paid on time to keep their operations running.
  • Service Providers ChangesGST implementation: having allocated budget for adopting GST properly in their business


Run your business from anywhere.

No matter where you are, be on top of your billing data.



Sign up for free

*Free & Easy – no hidden fees.

Offline Free

0 INR

  • Pricing features Limit of 10 documents /month
  • Pricing features Sleek Bill branding on issued documents
  • Pricing features No dedicated support
  • Pricing features Limited access to advanced features
  • Pricing features Only one design template
  • Pricing features Add and Remove Payments
  • Pricing features Unit of Measurement in Documents & Stock
  • Pricing features Service Tax with SB Cess & KKC support
Download Free

*you will start with 15 days of premium

Offline Premium

1999 INR /year

  • Pricing features Unlimited documents
  • Pricing features Dedicated email support
  • Pricing features No Sleek Bill branding
  • Pricing features Multiple invoice templates & color options
  • Pricing features Small A5 invoice template
  • Pricing features Proforma, Tax, Retail or Excise Invoices
  • Pricing features Delivery note / Challan
  • Pricing features Show Total Amount in words
  • Pricing features Show Authorized Signatory field
  • Pricing features Add Discount per Product
  • Pricing features Paypal or Custom link on invoices

Online Premium

Ribbon

1999 INR /year

  • Pricing features Unlimited documents
  • Pricing features Online Secure Access from ANY DEVICE
  • Pricing features Dedicated support
  • Pricing features Optimized Invoice templates - A4, A5
  • Pricing features Proforma, Tax, Retail or Excise Invoices
  • Pricing features Delivery note / Challan
  • Pricing features Show Total Amount in words
  • Pricing features Optimized Invoice sending & notifications
  • Pricing features Add Discount per Item Or Total in % or value
  • Pricing features Multiple user access [September]
  • Pricing features GST assisted filing [September]
sign up for free

*Start with Premium Trial - no hidden fees