JioGST – A Revolutionary Mobile GST solution For Merchants, Traders and Retailers
“The snake which cannot cast its skin has to die. As well the minds which are prevented from changing their opinions; they cease to be mind.” – Friedrich Nietzsche
At the stroke of midnight on 30 June, 2017, India ushered into in a new age by reforming its current tax structure. Government of India abolished the system of multiple Indirect Taxes prevalent in the country and introduced a single tax called Goods & Services Tax or GST from July 1, 2017.
GST is aimed at creating a level playing field for businesses in the country. As mentioned, GST subsumes all indirect taxes levied on goods and services, thereby creating a seamlesas nationwide market. It will also put us at par with other nations which have a unified, structured tax system.
A reform in nationwide tax system of such a magnitude may appear overwhelming at the outset, especially to the merchants. Although GST looks great on paper, the trading community fears that the GST rollout might disrupt growth again. They seem to be hardly prepared for complexities that follow – a zero tax rate along with four different tax slabs. Top it up with some cesses and it becomes a perfect recipe for confusion.
Composition Scheme for Small & Medium Businesses
Government has tried to address the issues that trading community will face, with respect to staying GST compliant, by introducing Composition Scheme under GST. Under this scheme, a taxpayer will be required to file summarized returns on a quarterly basis, instead of three monthly returns (as applicable for normal businesses). This return will have to be filed through a G2B portal (Government to Business portal) provided by the Goods & Services Tax Network (GSTN).
GSTN is an umbrella, non-profit non-government company, which will provide shared IT infrastructure and service to both central and state governments including tax payers and other stakeholders.
The technical hiccup in GST
Although tax payers may access the G2B portal directly, it may be noted that such system will be uniform for all the users and may be basic in form and design. The portal may not exactly be termed as “user-friendly”. Advanced users may still be able to understand and navigate the G2B portal with relative ease as compared to small and medium sized merchants.
So, the big question before the small and medium sized merchants is how to remain GST compliant while concentrating on their businesses? These merchants are looking for alternative applications which offer rich & secure interface, provide ease of use and are customer friendly. Developers of such applications are called GST Suvidha Provider (GSP) and Application Service Providers (ASP).
JioGST – A Mobile First Solution for Merchants, Traders and Small Retailers
To make it easier for merchants to be GST compliant, Jio has introduced a “mobile-first” solution for merchants. JioGST is a feature packed, revolutionary product for merchants to become GST compliant.
The new service from Jio is an end-to-end solution and is set to become a panacea for all of the merchant’s GST woes. The service is aimed at traders with yearly turnover of ₹ 20-75 lakhs though it can easily cater to merchants which fall outside this bracket on both sides (below ₹ 20 lakhs and above ₹ 75 lakhs).
JioGST is currently offering merchants a Starter Kit for only ₹ 1,999 which is available in Jio Stores and jio.com.
Unboxing the JioGST Starter Kit
The Starter Kit of JioGST is a fully loaded bouquet of software and necessary hardware that a merchant can start using immediately to stay GST compliant.
Let’s take a look at what is included in this kit.
(1) A Mobile Based Software Solution – A mobile first compliance application that comes with free GSP and ASP services for 1 year. The GSP and ASP services will ensure enriched access to the G2B portal and address the compliance difficulties of taxpayers. The merchants are not required to maintain any accounting/billing software at their end. The application provides automatic population of purchase summary.
And all this can be done on a mobile, without the need of a computer!
Market Value : ₹ 1,999+
JioGST Starter Kit : NIL (for first year)
(2) JioFi Device – The kit also includes the revolutionary JioFi device. The device offers unlimited voice calling and 24 GB of data for 1 year. Jio is currently offering doorstep delivery and activation of the device in select cities. There is also an ongoing offer from Reliance Digital where a 5% discount voucher (upto max ₹ 2,000) is being offered to customers which can be redeemed against a minimum purchase of ₹ 10,000/-. There are also some attractive finance schemes available on smartphones and laptops.
Market Value : ₹ 3886
JioGST Starter Kit : ₹ 1,999
(3) A Billing Application – This is the need of the hour for every merchant and Jio has nailed it with their offering. The mobile based billing application lets the merchant generate daily summary invoices for full GST compliance. Merchants do not need a printer as the invoice is generated electronically.
The application comes with a built-in library/catalogue of thousands of consumer, grocery and electronic products with tax codes. A merchant need not fret if a particular product if not found in the catalogue. A new product can easily be added to the library. This application comes FREE for 1 year.
Market Value : ₹ 4999
JioGST Starter Kit : NIL (For first year)
(4) Approaching a Professional – The application also makes it possible for a merchant to easily approach an expert tax practitioner, in case required. Through JioGST, a merchant can get access to thousands of JioGST empanelled tax practitioners and can authorize a professional to file the return on his/her behalf.
(5) JioGST Knowledge – This must be another stellar feature of the application. Through JioGST’s Knowledge Series, one can access industry specific seminars for corporates and associations. A merchant can also reach out to experts, for their GST queries, via e-mail.
Moreover, JioGST channel on JioChat provides GST related updates. It also helps in discovering new business ideas, thus aiding in business development.
Market Value : NA
JioGST Starter Kit : Unlimited Access
Is JioGST Right For You?
Merchants and traders rarely employ full-time staff to manage their day to day finances. With the onset of a new tax regime in India, “Tax Compliance” is back in the driver’s seat. In light of the recent changes, merchants and traders need to ensure that their finance books are fully tax compliant.
These merchants would be required to install third-party billing solutions to manage their day to day billing. These billing solutions generally require that merchants invest in certain hardware (computer, printer etc.) and software (billing software), thus incurring huge fixed costs. Further, to stay compliant, they have to sit with their tax practitioner in order to file clean returns at regular intervals.
JioGST provides a golden opportunity to such merchants to manage their taxes on-the-go at a fraction of a cost when compared to similar products in the market. The software lets a merchant generate GST compliant invoices from a mobile without the need of a printer or a billing software. The merchant can also email invoices and export the results for report generation and monitoring.
Being a wireless internet device it can be carried anywhere. Introductory price of ₹ 1,999/- and plethora of attractive offers makes JioGST the best option for merchants looking for GST solutions in the market.
Beat the GST woes with JioGST. Check it out at the nearest Jio Store or on jio.com