The concept of transactional taxation is very complex in India. The wide variety of taxation norms make the complete system a lot more complicated for the retailers. With the introduction of e-commerce, large number of companies are buying and selling products online. These companies do not have any factual presence. With increasing work load and busier schedules, more and more people are now opting to shop online on a regular basis. This has led to an increase in the number of online shopping portals like Flipkart, Snapdeal, Amazon, Jabong, etc. The owners of these web portals find it difficult to keep a track of their taxation requirements from time to time as their customers are spread across the globe and the tax rate is different for each product and it also depends on the location of the buyer.
Though the online shopping trend offers various benefits to the consumers by providing them infinite choices with a provision to do price comparisons and an easy access to consumer reviews, it may prove burdensome to the people who are running the web portal. Especially with respect to the taxation needs, they may not be able to keep an eye on the recurrent tax changes and if they try concentrating on that, they may end up losing focus on achieving the core objectives of the business which ultimately may affect the business bottom line.
In such a scenario, Udyog’s AddTax solution eases the retailers’ taxation concerns by eliminating the tax complexity and simplifying the taxation process which allows the retailers to concentrate on their core objectives. It offers software based as well as web based solution. You may either install it on your system or access it via the web. Udyog’s AddTax solution is embedded with some exclusive features that make it stand out as a tax automation solution. Here’s a list of those features.
· Automatically keeps track of all the changes in taxation norms
· Easily searchable menu provides tax details immediately
· Adds taxes on an individual item basis & can calculate tax for a group of products
· Supports excise, VAT/CST & Service Tax and TDS for various modules
· Integrates with Udyog applications / ERPs to provide taxation information
· Constantly upgraded with latest tax information
· Calculates total tax for a host of items
By Udyog Software Marketing Team