Nowadays, a very common FAQ is coming from people according to VAT. Who will pay it or, how will they pay it? In short, here is some discussion about it. According to the Law of the ―VAT ACT-2012‖, all the registered companies have an annual financial transaction of at least BDT. 5 corer or more must submit a VAT return using the NBR approved VAT Application. Now, the million-dollar question is what features should you consider before selecting a suitable VAT Application for your Organization.
The first thing to check that, the application must be approved by the NBR authority otherwise you will be unable to submit VAT Returns. (http://nbr.gov.bd/nbr-enlisted/eng). If you found it on the list then it would be better to take a look at the demo of the application. Cause you might find some other applications as easy to use. Here Subra VAT could be a great choice of yours.
The software must make your life easier. So while choosing a VAT application, you must look for that application can able to Generate a report and submit it in real-time which will reduce the possibility of missing the deadline of submission. Here applications like Subra VAT can help you to do this.
After Sales Support, Training and Services:
Many Organizations may offer you FAQ, Guideline Book, Email Communication, and Chat for support, but this support is not enough for the non-tech savvy person. So sometimes it is needed to be in person and train the user for the better use of the application, and phone call support may help some times.
Here Subra Systems limited is offering Training to the user and customer service for help which will help them to speak with a live person and get their solutions, and it will help them not to get frustrated.
Security and Administration:
Administration and security must be the top priority of one organization. So when choosing a
VAT application what kind of security is maintain must need to know. Also, user access
restriction is important, so the systems should have an easy user access control system.
Choosing a VAT application that is having all core activities like company setting, customer profile setting, Product, suppliers settings, Updated HS codes, and VAT Compliance, and auto-generate VAT and SD report under the act of VAT and SD act 2012. In here, sometimes VAT policies may change, and sometimes internal information, not core needed to changes like some extra report. So what would be the provider company is offering that need to ensure.
In Previous VAT Act. 1991. One must submit all the paper copies of VAT returns which was a big hassle for everyone. But after the act 2012 now company can submit their VAT return through online with different forms. The new system is much easier with the NBR Approved VAT application.
So nowadays VAT management application is a very important and integral part of the origination. So company must be keen while choosing a proper VAT application.