Skip to main content

GSTR Analysis software: A complete solution for NBFCs, FinTech, and Banks

The Indian economy is on a revival path after the unprecedented and challenging situation faced during the covid period. Among the several financial indicators, the data relating to Goods and Services Tax (GST) collections reveals a buoyant economy. GST collections have continuously exceeded Rs 1.40 lac crore over the last six months which is a positive sign of revival at the macro level. The GSTR analysis software is designed to help businesses fetch data from online government portals and simplify the registration and filing of complex data.




Benefits of GSTR Analysis Software


The GSTR analysis software can act as an indicator to depict the financial position of an enterprise, be it an MSME or a large corporate. The GST Analyzer tool can therefore come in handy for the lenders like Banks /NBFCs and FinTech in using it as a tool for assessment of credit proposals and for arriving at effective credit decisions. The GSTR Analysis tool analyses raw data from the GSTN server to provide you with detailed insights on various sale and purchase transactions to the lender over a specified time period. This tool also  defective or returned items, routine transactions as well as overall transaction trends. It simplifies invoicing by automatically computing all taxes. One significant advantage of the software is that it stores all paperwork at one place, making it convenient to access from anywhere, at any time. It offers real-time data checking and validation, cash flow management, and payment analysis.


A robust GSTR analyzer software with sales and purchase details provides a segment-based contribution percentage that offers insights into the business's major areas of concentration. The analysis reveals the taxable amount and customer compliance level, as well as geographical spread, details of major customers/suppliers, particulars of unrelated transactions, if any, and the seasonal/cyclical nature of the business. The software saves time for private lenders, banks, and other financial institutions by delivering ready-to-use reports with relevant insights.

Labels:

Comments

Post a Comment

Popular posts from this blog

Unveiling Financial Insights: Mastering Your Finances with Bank Statement Analyzer

Introduction As financial institutions juggle various financial commitments and aspirations, understanding the nuances of finance can be overwhelming. Amidst this complexity, bank statements stand as a treasure trove of financial information. However, deciphering these statements and gaining actionable insights from them can be a challenging endeavor. To seamlessly extract data from these statements, banks and other financial institutions rely on bank statement analysis tools. This advanced tool with cutting technology helps determine the creditworthiness of borrowers with ease and facilitate informed decision-making. The Significance of Bank Statements Bank statements are a comprehensive record of a borrower’s financial transactions within a specific time frame. They encompass details about deposits, withdrawals, transfers, and other financial activities. Yet, due to their intricate nature, these statements often require a trained eye to uncover the meaningful patterns hidden within.
Post a Comment
Read more

Top FinTech companies in India | ScoreMe Solutions

FinTech Technologies  are firms that help consumers and financial institutions enhance old services and create automated financial solutions. The services include wealth management, insurance, payment gateways and alternative credit scoring, among other financial services. The expansion of  Fintech companies in India  has been revolutionary. India saw a spurt in the number of Fintech startups between 2010 and 2015, with 1216 new startups emerging in the market. In 2021, Indian Fintech ecosystem stood at $31 billion, becoming the third largest Fintech market in the world.   With digitization leading us toward a cashless economy,  Fintech startups  have made it possible for customers to avail virtual financial services that are easily accessible, cheaper and quicker. New startups are emerging at a fast pace to enhance the quality of banking and other services, not just for the consumer, but also for organizations. Top services offered by FinTech in India The services provided by these st
Post a Comment
Read more

Top 10 FinTech Companies in India

  1. Pine labs   The unicorn makes point of sales (POS) machines and has tie-ups with more than 70000 retailers in India, including Pantaloons, Westside, and Shoppers Stop. POS machines help merchants process payments done through credit cards and debit cards, keep track of sales, and streamline the processes of the business. Marquee investors, such as Sequoia Capital and New Atlantic Ventures have invested in this Noida-based fintech. 2. CRED It is a rewards-based credit card bill payment platform. CRED lets users pay credit card bills, keep track of their credit score, make regular house rent payments, and provides short-term credit lines. Based in Bangalore, CRED supports credit card bill payments for American Express, Standard Chartered, Citibank, HSBC, HDFC, ICICI, SBI, AXIS, RBL, PNB etc. The platform supports VISA, MasterCard, American Express & RuPay cards. Investors like Sequoia Capital India, Ribbit Capital, DST Global, and Alpha Wave Global have invested in CRED. 3. Scor
Post a Comment
Read more