Have an online business? In 2017 e-commerce sales were as high as $2,304 billion and are expected to grow upto $2,842 billion this year! The good news is that Woo Commerce GST plug-in helps you manage your goods and service taxes for your e-commerce sites from anywhere in the world on your fingertips. You just have to specify your GSTIN number while setting up the plug-in, which later will be displayed on your invoice automatically.
Advantages of GST plug-in:
In this section you will understand various advantages of the GST plug-in. From the low installation charges to a great help for record maintaining to ease of taxation work, etc. There are many reasons to use this plug-in for an e-commerce site. The following advantages will help you understand why GST plug-in is the best to enhance your business.
1) Easier to process high number of orders in less time.
Choosing this plug-in, you can easily process high number of orders. With growing business it becomes difficult to handle various orders with different tax slabs while billing at the payment gateway. GST plug-in helps you to assign taxes to different products at the time of initial setup at once, which at the end becomes easier for billing and maintaining records.
2) Classification of different products.
Nobody starts an online business to sell only one product. E-commerce platforms are made to help you sell as many products on very less investment charges. Also having too many products and their classification every time someone orders something from your site is not easy. GST plug-in is here to make it simpler for you. WooCommerce GST plug-in also provides you with HSN code for classification of your different products within no time. Isn’t it great??!!
3) Easy customer payment data.
One can study the payment reports on their time and it becomes easier to understand which product needs to be applied with CGST, SGST, IGST, etc. on the basis of where the product is to be delivered also giving us the final billing in the form of Invoice with all the required details. Which when manually done takes time and efforts.
4) International Selling.
GST plug-in is not restricted to any country. GST plug-in does not restrict you from discovering your target market whether ther are in USA, South Africa or any other countries for that matter. You can use it anywhere in the world (considering your website should be built on wordpress). You will have to assign the tax slabs according to your country tax system at the time of set up of the plug-in.
5) Ease of storing.
Having this plug-in installed helps you to not only maintain the records but having the records with you on your finger tips whenever you need them, e.g. you might not hav checked the reports two days back, you dont need to run to your office to find the files and study the report. Just login on your site from wherever you want with your login details and you will have all the reports with you with in fraction of seconds.
6) Affordable Employment.
As the GST plug-in does 50% of your tax work, there is less need of hiring an employee for the accounting work. Resulting in affordable employment for any startup or even a well earning e commerce site.
7) Ahead of your competition!
With the fast growing e-commerce market, there is a high competition to go ahead of. Using the GST plug-in, you not only save your time but also save the time of the customer because of which the customer prefers your website rather than others which in return increases the conversion rate creating a win win situation!