openPR Logo
Press release

Cygnet Infotech launches custom solution for start-ups and MSMEs to ensure compliance in a cost-effective manner

04-19-2022 11:12 AM CET | IT, New Media & Software

Press release from: Cygnet Infotech LLC

Cygnet Infotech launches custom solution for start-ups

The Ministry of Finance has notified the applicability of mandatory e-invoicing for B2B transactions with effect from 1st April 2022 for taxpayers having annual turnover of more than ₹20 crores, vide Notification 1/2022 - Central Tax. With this new reform start-ups and SMEs will join larger organizations in having to comply and contribute to a more transparent tax ecosystem. This tax reform enables smoother payments, close to zero tax frauds, increase in trade financing and much more. However, this notification does not apply to B2C transactions. Registered persons having turnover more than ₹500 crores are required to generate dynamic QR code.

Cygnet Infotech has announced a custom solution for small businesses to ensure compliance in a cost-effective and timely manner. The solution comes with e-invoice generation capabilities, a ready-to-go tally connector and invoice generation tools. It also offers the option of a simple GST compliant financial accounting software for businesses. This will ensure that organizations can generate e-invoices and e-waybills directly from this accounting software. A team of tax technology subject matter experts has been put in place to help proprietors of small businesses fully understand the compliance norms and equip them with technology-enabled software solutions. The team assures of a 24-hour turn-around-time for deployment, by leveraging in-house automation tools. The team has been supporting SMEs as well as tax consultants, ERP integrators and billing solution providers to help them provide an effective solution for their clients.

Commenting on this, Mr. Niraj Hutheesing, Founder & Managing Director, Cygnet Infotech said, "This notification will further boost tax revenue and improve transparency in the tax ecosystem. We want to do everything we can to help start-ups and small businesses digitize and remain competitive. Our ready-to-deploy solution ensures timely compliance so that small businesses can stay focused on their growth."

Was first published on Cygnet Infotech.

Cygnet Infotech Pvt. Ltd. 2nd Floor, Dinesh Hall, The Textile Association (India)
Ashram Road, Ahmedabad-380009 Gujarat
shubham.thakore@cygnetinfotech.com

Our solutions take you on a journey of digital transformation through unique products, services, and superior product engineering. From traditional technologies to emerging technologies powering innovation, our teams have the expertise to help transform your organization's digital journey by identifying the right technology platforms that deliver the right solutions for you.​

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cygnet Infotech launches custom solution for start-ups and MSMEs to ensure compliance in a cost-effective manner here

News-ID: 2604601 • Views:

More Releases from Cygnet Infotech LLC

Cygnet Infotech Tops the List of Blockchain Solutions Provider - 2019
Cygnet Infotech Tops the List of Blockchain Solutions Provider - 2019
San Francisco, California, USA., Jan. 22, 2019. Cygnet Infotech, a leading IT solutions and services provider, has been recognized as a top blockchain solutions provider in a recently published research in California by TopDevelopers – a leading business directory for software development agencies. Cygnet has been making significant inroads in the emerging technology sphere and has been renowned as one of the early adopters of the rule-based intelligence of blockchain. Since
Cygnet recognized as a top blockchain solutions provider - 2019
In a recent research published by one of the leading business directories – TopDevelopers (USA), Cygnet Infotech has been ranked second globally in providing breakthrough blockchain solutions. The research was issued in San Francisco, California, USA. Cygnet Infotech has been working with some of the leading global brands in discovering newer possibilities with blockchain technology. It has already implemented multiple smart contract-based marketplaces, digital signature solution, solid waste management solution, anonymous
Cygnet collaborates with Bitbank for IBISA project
Cygnet collaborates with Bitbank for IBISA project
Bitbank, a Blockchain Fintech firm based in Luxembourg has chosen Cygnet to be their consulting and development partner for their ambitious and breakthrough IBISA project. Realizing the true ground-breaking potential of Blockchain, Bitbank has made it a vision to build more efficient and fair business models to empower individuals. Actively engaged in working with companies, government organizations and nonprofits, their focus remains on building decentralized applications based on Blockchain. Together with

All 4 Releases


More Releases for SMEs

Digitization in SMEs: Opportunities and challenges
Digitalization in German companies has made significant progress in recent years, as evidenced above all by the increasingly widespread use of ERP (Enterprise Resource Planning) software. ERP systems are key tools for the integration and automation of business processes ranging from financial accounting and human resources to production and sales. Current studies show that a growing number of companies in Germany are using ERP solutions to increase their competitiveness and
Swoop launches voice offering for SMEs
ASX-listed telco Swoop has launched a new voice offering aimed at small to medium-sized businesses (SMBs). Launched this year, the offering includes unlimited SIP trunks [https://www.swoop.com.au/business/voice/sip-trunks/] and unified communications [https://www.swoop.com.au/business/voice/unified-communications/] voice services. The launch follows Swoop's acquisition of Sydney-based telecommunications wholesale voice service Seventeen Services. "This acquisition is set to propel Swoop to new heights by enabling the launch of cutting-edge voice products, amplifying the company's offerings, and cementing its position as a
Swoop launches voice offering for SMEs
ASX-listed telco Swoop has launched a new voice offering aimed at small to medium-sized businesses (SMBs). Launched this year, the offering includes unlimited SIP trunks and unified communications voice services. The launch follows Swoop's acquisition of Sydney-based telecommunications wholesale voice service Seventeen Services. "This acquisition is set to propel Swoop to new heights by enabling the launch of cutting-edge voice products, amplifying the company's offerings, and cementing its position as a frontrunner in
How free software can benefit SMEs
Intuitive, easy and quick. MEDUSA4 Personal for small companies is impressive whichever way you look at it Cambridge, UK and Pittsford, NY – 2 November 2016: A modern design, new functions and more possibilities for commercial use make the free CAD software ideal for day-to-day use in construction and planning. Big benefits for small companies Companies producing construction drawings and plans can use MEDUSA4 Personal's complete range of functions free of charge. If
60% of Polish SMEs use IT services
Approx. 60% of small and medium sized enterprises use IT services in Poland. Some 30% of SMEs declare to employ people responsible for IT. The number of portable computers used by SMEs has been growing. On average, there are five such computers per one SME. The proportion of companies which use EU funds to finance ICT development has gone down over the last two years. Use of IT services According to the
IndiaMART.com Enriches SMEs with Power of Internet
First-of-its kind report on Internet & SMEs to be unveiled at 'Free for SMEs' Conference - FISME to ardently support the conference - Erudite speakers to share valuable information - Importance & scope of mobile marketing for SMEs also to be highlighted New Delhi, 2nd July 2010: With global economy becoming increasingly reliant on Information and Communication Technology (ICT) for undertaking various businesses, Indian Small and Medium Enterprises (SMEs) too are expected to