Indirect tax, a tax which consists of consumption, transaction, value-added, sales and use taxes can cost organizations a huge amount of money to manage each year. Though keeping pace with indirect tax is a legal obligation, staying on top of continually varying tax rates and rules can be overwhelming. If it is done incorrectly, organizations are at a risk of exposing themselves to audits, interest charges, and monetary penalties.
In a complicated tax environment distinguished by the rising popularity of VAT and other indirect taxes and intricate by new regulations and capital requirements, it is more critical than ever to manage your indirect taxes with an aim towards optimizing cash flow and reducing risk.
Improving your business intelligence and analytics competency is the latest fascinating evolutionary process that organizations are considering. As a business leader, how efficient is your organization at offering you with the timely information and insight that you need to make your most important business decisions?
Progressive organizations are opting for an hybrid approach in which they can leverage the flexibility and scalability of their enterprise resource planning system and the domain-specific skills, accuracy, and comprehensiveness of best-of-breed indirect tax solutions.
Managing indirect taxes requires a strategic and comprehensive approach. Visual Udyog is effective indirect tax software that helps you find relevant and fast answers to critical tax related queries and also helps you align your tax documentations. The indirect taxation process is a complex web of legal risks and Visual Udyog definitely offers an efficient solution packed up with the below mentioned advantages.
· Upto 7 times faster than manual documentation
· Single entry posting in all registers and automatic monthly data compilation
· Error free calculation, auto totaling and posting
· Validations available at all checkpoints. No scope for errors
· Fast data entry and reporting. Saves upto 50% of your time
· MIS reporting enabled for Excise Audit
· Efficient manpower utilization to reduce administration costs
· Control on inventory using Ageing analysis, ABC Classification, shortage stock information, expiry tracking, batch/lot tracking etc
· Track creditor and debtor outstanding
· Handles all types of Indirect taxes like Excise Manufacturing, Excise Trading, Service TAX, VAT, TDS, GTA, and Work Contract Tax
By Udyog Software Marketing Team