HostBooks, a Fintech company based out of Gurugram, with its all-in-one cloud accounting, GST & other compliance solution, has been selected as a GST Suvidha Provider (GSP) by the GST Network (GSTN).
How GST Suvidha Providers are selected?
GST Suvidha Providers (GSP's) selected based on their financial ability and evaluation of IT capability to provide the essential services to taxpayers making them GST-compliant. GSP's are required to provide a wide range of services, like GST registration, GST returns filing and GST reconciliations to ASP's and taxpayers.
The role of HostBooks as GSP and how HostBooks aim to serve the industry
HostBooks all-in-one accounting solution helps businesses in managing their sales, purchase and other transactions efficiently and facilitates automatic GST reconciliation of customer's data with GSTN data i.e. GSTR-1A, GSTR-2A, and GSTR-3B. HostBooks ensures that all its software upgrades are in sync with GSTN ensuring complete GST compliances by providing innovative and efficient software solutions.
HostBooks has revolutionized the accounting procedure by bringing compliance through multiple ways:
1. Simplified GST- HostBooks is one such accounting software offering a seamless GST billing and returns filing experience. All activity regarding GST issues such as GST return filing, GST bill preparation, mismatch reconciliations, calculation of penalties and interests can be done electronically through HostBooks.
2. It automates repetitive tasks- Most of the processes such as invoicing, statements, payments reminder & collection, reporting, and budgeting are required repeatedly consuming a lot of time and adds up the employee costs. In such a case, HostBooks works through automation and performs such repetitive tasks without undergoing manual calculations also can extend services live payment reconciliation and payment reminder
3. Cloud Computing Software- HostBooks is cloud computing software that boosts productivity and cuts down operational costs.
4. Real-time insights with powerful dashboard - To fuel the growth of your business, HostBooks provides the employees with insights in real-time relating to the margin goals of your organization and they could take immediate measures to improve the chances of errors.
5. Mobile Apps: Either HostBooks all the applications are on Mobile App or mobile optimized and gives immense ease to the customer.
"Although GST has completed two years, taxpayers and businesses are still facing challenges. HostBooks is continuously working toward providing seamless cloud-based GST solutions to help them manage their compliances, regardless of the size and nature of the businesses. Now, being a GSP will help us to serve businesses and taxpayers even better. We as a company are growing at a faster rate and serving more than 40K users in the short span. As an organization, we are focusing on customer satisfaction and profitable business matrixes. We are also in discussion with various investors for our future growth plan", said Kapil Rana, Founder of HostBooks.
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