Goods and Services Tax is an indirect tax that will be levied on goods as well as services. All the existing state and central indirect taxes will be subsumed under these apart from Customs Duties. It will be applicable in throughout the country. Under GST regime , every product will be taxed at the same price in every place of where tax is same as in Himachal Pradesh as well as Tamil Nadu thus we also refer GST as ONE NATION ONE TAX.It does not mean that every product will be charged at the same price as we cannot fix the same price for AC and food powder. Apparently, the essential will be collected at a lower rate than the affluence, but a single luxury product or an individual essential product will be charged the same rate throughout the country.
How GST works?
GST will be divided into three components the Central Goods and Services Tax(CGST), State Goods and Services Tax(SGST), Inter State GST. The CSGT will combine the Central indirect taxes like the service tax, excise duty, additional customs duty, additional special excise duty whereas SGST will integrate all the State indirect taxes like VAT, entertainment tax, octroi and others. The CGST is been collected by the Central Govt whereas the SGST is collected by the state government. In the case of an sales transactions within the states, IGST will be collected by the Central Government. GST will allow the Input tax credit for the taxes paid on the purchase of goods and services during a commercial activity and input tax credit of CGST and SGST will be provided by the respective governments.
How will GST effect the country?
GST bill envelope the Goods and Services Tax and can be the great indirect tax reform providing a uniform and simplified way of Indirect taxation in India. Once introduced it will replace and combine all the number of other taxes like VAT,CST, Service tax, CAD, SAD, Excise, Entry tax, purchase tax etc. The common idea for implementing GST is making India into a single market. This may have a better impact on GDP of India and help to boost the Indian economy.
Main Benefits of GST
- A unified indirect tax system.
- decreasing in manufacturing cost.
- It integrates a number of other taxes like VAT, CST, Service tax, CAD,SAD, Excise, Entry tax, purchase tax etc.
- minimized complex tax system.
Positive effect of GST
- A single tax scheme eliminating a bunch of indirect taxes.
- Less tax compliance.
- eliminates cascading effect of taxes.
- making costs shall be minimized, therefore prices of consumer goods likely to come down.
- Due to reduced costs some products like cars, FMCG etc. will become cheaper.
- minimize prices will improve consumption. improvement in demand will lead to increase supply. Hence, rise in production of goods. Maximizing production will lead to more job opportunities in the long run.
Hence, this is possible only if the benefit is actually passed on to the consumers. There are exceptional factors also like the merchant profit index that determine the final price of products.GST alone cannot estimate the final price of goods.Use Unavu GST feature to make your business profitable
We all live in a digital world where many things get obsolete really fast. It’s all about the cloud now because all your data is safe and secure off-site, with 24/7 access, seals the deal for many business owners transforming from hosting their own servers to save everything in the cloud.
Cloud based softwares have formed its brand quality into the world of point of sale systems, and many businesses are opting the mobility and simplicity of a cloud based POS system over a traditional Windows based POS system for the following reasons:
Cloud POS Mobility
Using a cloud based POS system gives you more mobility and flexibility. The whole system can be installed and run using an iPad and an iPhone. If you run a restaurant, your wait staff can take credit card payments table side and simply email the receipt or send it to the customer’s mobile phone instantly. Mobility lets you to control your business from anywhere in the world with 24/7 access to all system reports.
When a Traditional Windows POS system gets hit with a virus or if the system crashes and gets corrupted, you can expect some downtime as the IT staff from the POS vendor fixes the problem. Everything will need to be checked to determine if it’s a hardware or a software issue, and with most issues involving a virus or data corruption, the whole set-up needs to be reinstalled. This is costly and very time consuming.
In Unavu cloud POS system all the data is stored in the cloud, no problem on running out of storage space, theft, accidents and calamities ever again. Every data is stored in many off-site servers that have high security and several layers of redundancy.Credit card providers such as Visa, Mastercard and Amex have also stated that they will shoulder all the costs incurred by a lost or stolen credit card, but only for owners who use the latest in point of sale technology. So if you’re still stuck with an traditional cash register or even an old legacy system, the time to switch is now.
Traditional POS systems normally charge basic pay for hardware and software, plus additional yearly maintenance fees of about 18-20% more for upgrades. This is apart from the training and set-up to keep your team and your system updated on any new security features.
Cloud based POS systems come as software as a service models, with no upfront fees and low monthly costs. As the system is cloud based, software updates are automatically done and the system can update itself.
Works well with any platforms
UnavuPOS is a cloud based, you can easily integrate accounting software, gift cards, loyalty programs, rewards and other add-ons seamlessly. cloud based system is friendly than others. Integration has never been easier.
The Goods and Services Tax is a valid step towards indirect tax reforms, that will combine a large number of Central and State taxes into one tax and prevent double taxation to pave the way for common national market. GST will reduce the overall tax burden of goods on the consumers from the current 25% to 30% to around 17% to 19%. Thus, it would reduce the cost of products for the end user.
An invoice is the primary document used to assess the collection of any tax related to the transfer of goods or services. Under the new Goods and Services Tax (GST) scheme, government is implementing a new, comprehensive invoicing format that should facilitate the computation of taxes on invoiced goods or services.
There will be two types of invoices in the new tax scheme: a tax invoice and a bill of supply.
When supplying taxable goods or services a registered supplier should issue a tax invoice. Specific rules regarding the use and contents of the invoice apply:
- Bill number of the invoice
- State name and code
- GSTIN/unique ID
- HSN code/accounting code
Bill of supply
A registered supplier will issue a bill of supply when:
- The goods or services supplied are cleared
- The supplier opts to pay taxes under combination Scheme
As per the rules governing the bill of supply:
- Serial number
- Details of receiver
- Particulars of goods
- If the value of the goods or services supplied is less than Rs. 100, there is no need to issue a bill of supply. Instead, the authorized person must generate a stabilized bill of supply for any such supplies transferred during the day.
Benefits of GST
Increase tax levy and improve India’s economic development by breaking tax barriers between States and combining India through a uniform tax rate. It is calculated that India can profit to $15 billion a year by implementing the Goods and Services Tax.
The taxation burden will be splitting equally as between manufacturing and services, through a lower tax rate by increasing the tax base and minimizing exemptions.
It will build a transparent and corruption-free tax administration, by simplifying procedures of taxations and reducing the tax burden, though increasing the ambit of taxation.
Since, both Centre and State GST will be collected at the place of sale of a product, it will be charged on the manufacturing cost only, and hence, the cost of the product will come down. Lower price (approximately 5%-7% for consumer goods) will attract more consumption and thereby help both the manufacturer and the consumer.
Signing the invoice
The authorized representative of the registered person is need to sign the invoice either physically or digitally via Digital Signature Certificate.
Every invoices must support to the rules framed under GST India to avoid amends for non-compliance. Proper invoicing should enable the administration of the successful digital compliance under GST scheme.
UnavuPOS is an application service provider partnering with licensed GST Suvidha Providers. To understand how UnavuPOS GST can help you with GST compliance, contact us through
The Impact in Restaurant Sector With the passing of the Goods and Services Tax Bill, the nation’s Food and Beverage Industry has been left both flustered and fluttered. As because of indirect tax, this affects both the manufacturer and the customer. The impact of GST on Restaurant Industry is effectively seen in both categories– those who are working as restaurateurs (restaurant owners, businessmen, investors) as well as those that form part of the clientele (consumers ranging from cafe hoppers to fine diners).
With the GST coming into force, several state collected taxes like the value-added tax, entertainment tax, sales tax, service tax, purchase tax etc. have all been combined into a single transparent tax.
Benefits expected due to levy of GST on Restaurant Industry
- Restaurants and hotels may increase their overall service as a single tax will be processed at checkout.
- Finally consumers are free from having to calculate various taxes on the final bill.
- the payment system is going to be more effective and faster, with a single tax under GST for restaurants
- Overall, trading on several commodities that was not regulated earlier has become more structured, for example, oilseeds, pulses and cereals have been put under the light of a structured tax, and therefore can be accessed better in terms of both manufacture and consumption.
But are you aware that the GST could be a good thing?
- Instead of scanning several rates of taxes and duties, a customer can save a small percentage every time he eats out because of a standard value charged (under the current tax regime this value could come down to 18% on the total value of the bill).
- As a consumer, the GST on restaurant meals has made dining out more pocket-friendly with a single clear 18% charge as opposed to the earlier multiple 20-24% charges that were cumulatively levied.
Makes Better Days for Business Owners?
As an owner of a restaurant business, one may be argue with the several taxes from the purchase of raw materials right till selling the final product to the consumer. How does the GST on Restaurant Industry affect this target market.Raw materials can be procured at finance rates from agriculturists and farmers at a single stroke instead of owners having to negotiate – taxes shall remain uniform throughout states thus making the competition balanced. The overall cost of procuring goods will thus decrease substantially, Using UnavuPOS GST Feature makes the restaurant business a viable and easily manageable.
Why does a person run a restaurant? Certainly, the passion to cook and make a profitable business out of it. Unlike a retail business, the owners of a restaurant have a most critical situation to handle the customers right from seating as soon as they enter the door, keeping all items in the menu, taking orders and processing KOTs faster to kitchen and serve faster, giving a hygienic and breezy dining experience and providing a good exit experience
Any faults anywhere and it could make the customers Angry. Wouldn’t it be really great, if our POS software could manage everything?
Guest Service and seating
Get a view able representation of floor plan with occupied tables, reserved and free ones to instantly choose on seating of your guests. order taking application, comes in handy for waiter to take orders with ease and spend 100% of time with customers and serving them
Menu, Recipe and Pricing management
Profitable restaurants are those which offer the best taste at the right rates. To manage it effectively, each and every menu have to mapped to their recipes till the items added level and control its inventory consumption closely to optimise cost and arrive at right price by Using UnavuPOS restaurant management software.
Flexible and Creative
Keep the restaurant encouraging large groups to dine with group offers. Regulate traffic to restaurant by happy hour offers. Categorise customers into the regulars, corporate, students and offer discounts accordingly. Have the flexibility to be creative with your restaurant by Unavu Gift card offering feature
It is very important to know your customer’s taste preference . Unavu restaurant POS software allows you to understand customer dining history, choice of menus they enjoy and more. It helps a restaurant owners to plan on future purchases and inventory and constantly update the menu based on customer preferences
A tax may be defined as a “Business burden laid upon individuals or property owners to support the Government, a payment exacted by legislative authority”. A tax “is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority”. Taxes are in different type they are Direct Tax or indirect Tax, and may be paid in money or as its labor equivalent (often but not always unpaid labor). India has a well developed taxation structure. Taxes are imposed by the Central Government, State Government and some minor taxes are imposed by the local authorities like Municipalities in India. The taxes is derived from the Constitution of India which allocates taxes for both the Central and the State government’s. The power of central and state government to make tax laws, which states that “No tax shall be collected except by the authority of law”. Every tax collected based on accompanying law, passed either by the Parliament or the State Legislature. Any tax which is imposed by the government and is legal charges collected by the government based on law or is beyond the power of legislative authority, is struck down as unconstitutional.
Types of Taxes in India
In India various kinds of taxes are found. In India, taxes can be either direct or indirect. However the types of taxes depend on whether it is levied by central, state or municipalities. The most known tax imposed by the local municipal authorities is the State Entry Tax
GST stands for Goods and Service Tax. The Goods and Service Tax Bill is officially known as the Constitution (One Hundred and Twenty Second Amendment Bill), 2014 which is to be implemented in India from 1st April, 2017. The purpose of this act is to merge the indirect taxes in India into a single taxation system. This is one of the most important reforms brought in Indian economic system which would affect us all. The taxes which will be submitted into GST include Central Excise Duty, Service Tax, Additional Custom Duty, and state-level Value Added Taxes.
Direct taxes are so named because they are directly paid to the union of India. Some of the direct taxes imposed by the central government are income tax, corporation tax, security transaction tax etc.
Indirect taxes are levied on some specific taxes and particular goods. It is not levied on any particular person or individual. Usually indirect taxes in Indian republic are a complex procedure that involves laws and regulations, which are interconnected to each other. Some of the indirect taxes are excise duty, custom duty, sales tax, value added tax, etc.
The Indian government introduced the New Tax System based on Good & Services With the introduction of GST tax system in India is expected to evolve. such as Pharmaceutical Sector, Textiles and Garments, IT Sector, Telecom Companies, Consumer durables, Automobiles
Every business person needs ways to run their business in a successful way i.e. business transaction should be maintained properly, get comparison of sales on every years, important alerts. Unavu Point Of Sale Software is designed to handle all needs of individual store or multiple stores chain in an accurate way as it is easily configurable according to the requirements of the customers as per their business type. In Unavu Point Of Sale Software, payment transactions & inventories can be easily maintained, Unavu Point Of Sale software controls inventory in a much easier way by the help of cash registers as well as helps in better controlling the employee based on shift of business hours to get its unique reporting features. In Unavu Point Of Sale Software, know more about TAX on compare on current sales .so that they can get better ideas for the betterment of the business. Explicit sales services and higher rate of customer satisfaction leads to the path of success.
If you use Day Books or Ledger Book in UNAVU POS was made for you
UNAVU Point of Sale software, having good interface design application to Handle the inventory management, and all businesses records of Accounts & Reports and TAX(CGST&SGST)with multiple platforms. Our industry-leading automation saves you countless sales hours and puts all your data in accounting – where it belongs for our restaurant and retail POS systems.
Access Anytime: Take Orders, Payments, Shipments, Even Track Inventory from admin accounts by using Unavu Cloud POS
See the Current status of business details with UNAVU Point of Sale tuned up for mobile devices. Our application works with Android, meaning you’ll get the best , unrivalled versatility, and up-to-the-minute updates as standard. That means you’ll get the sharpest tool on the market, and it won’t die mid-use. Ex: Restaurant it frees up your wait staff and enables clear communication between them and your kitchen/bar staff. Customer’s orders are fast to enter, and get printed out instantly to your kitchen ticket printer, reducing your table turnover time.
With flexible & Affordable hardware choices than any other Point of Sale
It’s the most benefit for POS software, and it can be run with the widest range of POS hardware with Windows PC and Android devices means more choices, more features, and lower hardware prices. You can use your own compatible hardware, or get tremendous deals on our wide range of devices – including.
Touch Screen POS Terminals, Receipt Printers, Secure Cash Drawers, Customer Facing Displays and much more.
In fact, as an independent company, you have multiple payment processing options to choose from – which means no forced credit card rates! We also have all the EMV Compliant equipment you will ever need.
When you work with UnavuPOS, you work with a team that cares about customer service. we providing them with expert support 24/7 days a week days. Our POS system, is use-friendly hands-on training, we’ll help you master one that’s a real asset to your business.
Web-based management: Take care of business from anywhere in the world
To cloud or not to cloud? UnavuPOS puts this debate to rest by delivering the advantages of both. Our innovative software design delivers the reliability and speed of premise-based systems with all conveniences of the cloud. Patrol your sales area, go home, or finally take that vacation. Wherever you bring your phone or laptop, you’ll have complete control over your Unavu Point of Sale system and real time reports, right in the palm of your hand.
Restaurant POS software is used to process orders, making payments, and managing inventory levels. In essence, it can place everything regarding establishment’s sales in order. though it’s turning progressively indispensable for businesses across industries, not each restaurant is on board. Many smaller shops are still using analog cash registers and spreadsheets to process transactions and update inventory.
Thankfully, restaurants can choose among POS software solutions with different features and price points. Like anything else, finding the right one is about assessing your needs and how they should be met. To help you get started, here are three of the most important features to look for:
Striking the delicate balance between having ingredients on hand and customer demand can make or break an operation. You can keep track of what you’re running out of and what customers aren’t interested in. Some POS solutions can even notify you when you’re running low on certain items—which is crucial during high-volume times. The last thing you want on a busy Saturday night is to run out of your bestselling item.
POS software can create sales reports and help managers track the performance of individual establishments in different locations. Such reporting highlights which items are selling quickly and shows businesses how to focus on the biggest revenue generators. This data can be critical for demand and revenue forecasting. Depending on the system, reporting capabilities may include total sales, sales for any given time period, sales per item or category, and sales by item or server
Some POS software has the capability to store basic customer data like names and contact information. This data can give sales managers and servers the ability to personalize the dining experience and thereby improve customer loyalty. the probability of selling to a new customer at between 5 and 20%, while the chances of selling to an existing customer are between 60 and 70%. By collecting customer details, retailers can identify valued customers and anticipate their orders. After all, there are few things as comforting as that age-old notion of going somewhere where everyone knows your name—and dinner order.
What are the components of GST?
GST is a combined scheme of making central and state taxes together. there are three types of taxes – Central GST and State GST and IGST (Integrated GST) for interstate transactions.
Since every the center and state taxes are combined and made as one tax under GST, state governments and central government will need to have their share of GST. Hence, there will be three types of taxes under GST. Since GST is a consumption-based tax, the tax revenue will be charged and collected by the consuming state. This helps the consuming state to secure their tax base.
If the goods are transferred within state i.e., the consumption state is same as origin state, there will be CGST (Central Government Tax) and SGST (State Government Levy)
When transfering goods from one state to the other, IGST will be charged and the central government will settle the tax to the consuming state.
Will GST bring down my tax burden?
GST plans to reject cascading effect of tax. All inputs credits can be utilized and it will bring down the tax burden on account of usage of credit. The credit can be claimed only after it matches the invoice of the respective suppliers.
In the current tax regime, tax credit claims under various tax laws are not allowed. For eg: tax credit on account of taxes paid under excise duty cannot be claimed against service tax dues and vice versa.
Will GST increase my compliance?
GST looks to minimize the consent trouble of the customers. There is only one consent that is required and only a single compliance has to be done. Under the present scheme, service tax, VAT and other returns are to be filed separately whereas the input tax mechanism under each tax is different.
In GST the acknowledgement are prepared by the GSTN once the person inputs all his purchase and sale details. Matching of invoices for availing input credits are done automatically and returns are prepared.
Once the returns are processed and approved, there are no further returns to be filed on a monthly basis. In the current tax regime, customers have to file and manage all taxes separately excise, VAT, service tax etc.
How to prepare my GST return?
GST returns are been arranged with the help of your invoices for the period of filing of return. The assessee has to upload all his relevant purchase and sales register and other information required like advances with which the returns are automatically generated.
There is a separate way for the agreement of invoices filed and the assessee can work with their vendors for unmatched items post which the final return will be prepared and tax liability has to be discharged.
CGST and IGST are part of GST, Goods and Service Tax.
CGST is known as Central Goods and Service Tax and IGST is expanded as Integrated Goods and Service Tax.
Different indirect taxes of Central Excise Duty, Central Sales Tax CST, Service Tax, Additional excise duties, excise duty levied under the medical and toiletries preparation Act, SAD (Special Additional Duty of customs) surcharges and cesses are merged with CGST. Under IGST, the taxes for movement of goods and services from one state to another are collected.
Most of the share of tax revenue in CGST is allocated for central government and IGST tax revenue is shared between State government and Central government as per the rate fixed by the authorities.
CGST expands as Central Goods and Service Tax and SGST is the expansion of State Goods and Service Tax.
Different indirect taxes of Central Excise Duty, Central Sales Tax CST, Service Tax, Additional excise duties, excise duty levied under the medical and toiletries preparation Act, SAD (Special Additional Duty of customs) surcharges and cesses are merged with CGST. In SGST, the taxes like State Sales, VAT, Luxury, Entertainment tax is so far as they relate to supply of goods and services etc. are subsumed.The most of the share of tax revenue under CGST is allocated for central government where as SGST tax revenue is allocated for state government.
What is Goods and Service Tax
GST is a Target-based tax, as against the current principle of origin based taxation. The new tax scheme follows a multi-stage collection mechanism wherein tax is collected at each stage and therefore the credit of tax paid at the previous stage is available as a set-off at the next stage of transaction. This helps to cancel “tax on tax” or the descending impact of tax. GST shifts the tax incidence near to the consumer and benefits the industry through better cash flows and better working capital management. From customer point of view, GST helps to bring down overall tax.
The GST bill is been looking forward to transform the country into a consolidated market, replacing most indirect taxes and merging all those into a single tax scheme.
With the all-general tax levied on manufacturing, sale and consumption of goods and services at the national level, the bill avoids extra taxes on transportation of goods across state boundaries
CGST, SGST, IGST
The GST to be levied by the Centre would be called Central GST (CGST) and that to be levied by the States (including Union territories with legislature) would be called State GST (SGST). An Unified GST (IGST) would be collected on inter-State supply including stock transfers of goods or services. This would be collected by the Centre. Import of goods would be treated as inter-State supplies and would be subject to IGST in addition to the applicable customs duties. shipping will be done as zero-rated provides which makes no tax will be payable on exports of products or services. However, exporters can claim input tax credit.
Transaction in the retail sector is done mainly through cash and we have already seen the drop down of sales during demonetisation. Post GST, there is no significant change in sales as consumer behaviour would not be changed. Unorganised retail sector would likely to participate more by coming in mainstream taxpaying system. GST on any transaction cannot be eliminated unless the complete transaction is out of GST system right from manufacturer to retailer. Because of simplicity of taxes like one tax, credit of all type of taxes even small business men would like to contribute in India biggest tax reform. The government is also discouraging the purchase from the unregistered dealer as tax on the purchase from unregistered dealer needs to be paid by the registered dealer by way of reverse charge
Hence, on a concluding note we would like to say that, just the way we are certain about the benefits of GST in the retail segment, we are confident that it will bring relief to the consumers as well by eliminating a plethora of taxes such as CST, Octroi and excise, among others.