How to Use GST Billing Software for Export Transactions

The GST billing software application is a tool that helps businesses generate a bill and follow up on the accounting process. GST billing software shows and represents innovative technology solutions geared towards making preparing bills compliant with GST rules easier and more efficient.

CaptainBiz with its features has become one of the best billing software with tools to simplify invoicing, ensure compliance, and avoid adherence issues. It saves cost, and time, and minimizes error; in doing so, it aims to help your business soar.

Zero-rated Supplies under GST

Goods and Services Tax has impacted export transactions with zero-rated supplies remarkably. Exports are considered zero-rated under GST, which means they are taxed at a rate of 0%.

There are several benefits of zero-rated supplies under GST:

• Taxation is Simplified: Multiple indirect taxes are brought under the single taxation ecosystem, GST. GST or Goods and Services Tax has simplified the exporters’ taxation process. It has reduced administrative complexities and adherence burdens associated with different tax arrangements. GST has made it easier and more convenient for exporters to pay more attention to their business activities than taxation hassle.

• More Competition: Zero-rated supplies make goods and services more competitive in the global market by eliminating the burden of taxes on exported goods and services. Exporters have the agency to offer their products at a more competitive price.

• Better Cash Flow: Since exports are zero-rated, exporters do not have to pay GST on their outputs. This allows for better cash flow as the exporters do not need to allocate funds for GST payments, thereby focusing on their business activities and inducing investments.

• Generates Foreign Exchange: Zero-rated exports in GST are beneficial for the economy as they generate foreign exchange and boost the economy. They are also beneficial for the exporters as they can claim a refund of the input tax credit they paid.

Documents Required for Exporting under GST

• Get the Import Export Code (IEC)
• Furnish a bond or LUT if exporting without paying IGST
• Make sure relevant purchase orders are attached to other documents
• Issue Tax invoice containing these details: 

• Endorsement describing whether the supply is for export with or without payment of integrated tax; 
• Name, address, and GSTIN of the supplier; 
• Invoice number and date; name and address of the recipient including delivery address and destination country; 
• Harmonized System of Nomenclature (HSN) Code of goods along with relevant description; 
• Quantity of goods and the number of units; 
• The total value of the goods with the breakdown of the value into the price per unit; 
• Signature of the authorized signatory of the supplier

• File the shipping bill and include the details on the tax invoice. The shipping bill can also act as a refund claim provided that: 

• The person carrying the export goods files an export manifest; and
• The applicant has filed forms GSTR-3 or GSTR-3B appropriately.

Advanced Features of GST Billing Software

CaptainBiz offers several advanced features that can prove to be phenomenal for any business operation. Listed below are a few of them:

• Information and Data Analytics: CaptainBiz offers sophisticated information and data analytics tools to assist organizations and businesses in acquiring a correct understanding of their procedures, finances, and consumer actions. This consists of trend analyses and customizable reporting.

• Workflow  Automation: The CaptainBiz software application provides automation abilities to make business procedures effortless, minimize manual error as well as increase efficiency.

• Customization Features: CaptainBiz enables customers to personalize the software program according to the needs of their business design and demands. This consists of customized workflow, fields, and dashboards for different industries or departments. customized to various divisions or sectors.

• Protection and Security: Given the value and importance of data protection, CaptainBiz consists of innovative safety features such as data encryption and regular security updates to shield sensitive personal data. as well as routine protection updates to shield delicate service info.

Also Read: Top Features to Look for in GST Billing Software for Indian Businesses

Making Use of GST Billing Software Features

For Generating Export Invoices:

• Find the Generate and Share E-invoice section under the Features tab on the CaptainBiz website and application. 
• Start a 14-day free trial. You will have an option to access this trial button in the abovementioned tab.
• Fill in your details correctly. If there is an involvement in international deals, select foreign currency as necessary. CaptainBiz converts currency exchange rates for accurate conversions automatically – saving you time.
• For conformity, fill out necessary information such as exporter and buyer details, the invoice number and date, shipping details, description of goods, and so on
• This is where CaptainBiz comes to the rescue and does all your work. Recheck all the information and get started!

For Automation:

• Automated Shipping Documentation Generation makes paperwork reliable. It minimizes manual errors and also saves time.
• An effective software that has a logistics monitoring system enables smooth tracking as well as offers accurate results in less time. CaptainBiz’s logistics monitoring system tracks and offers errorless results in a short time. 
• CaptainBiz invoicing software application provides direct shipping information which is better than manual tracking across platforms.
• Integrating invoicing with the shipping process caters to benefits like cost savings, simplified documentation generation, and optimized shipping solutions.

For Ensuring Compliance:

• An invoicing software application that ensures adherence is crucial for exporters to not worry about compliance with regard to the GST laws and regulations. CaptainBiz, in this regard, guarantees smooth GST compliance in India, producing accurate tax calculations and creating invoices that are compliant with local regulations. CaptainBiz is distinguished as it continuously updates, ensuring it follows current GST changes to maintain conformity.
• CaptainBiz billing software keeps an eye on governing reforms which help exporters avoid noncompliance issues and allow for more accurate documentation and invoices.
• Good software integrates government services like GST Network (GSTN) and enables smooth GST return submissions and refund claims. CaptainBiz is updated with legal interventions related to GST and similar reforms. 

How to Integrate GST Billing Software in Your Business?

CaptainBiz is user friendly and can be easily integrated within your business operations. Different integration options are listed below:

• APIs: CaptainBiz supplies APIs (Application Programming Interfaces) that permit smooth integration with various other software program systems, making it possible for data exchange (consented) and also interoperability between various applications.

• Third-Party Integrations: The software application supports integration with prominent third-party services and tools utilized by companies, such as CRM systems, accounting software,  advertising and marketing automation systems, etc.

• Single Sign-On (SSO): To improve user experience coupled with data safety, CaptainBiz supports single sign-on capability, enabling customers to gain access to several integrated applications with a single set of login credentials.

• Data Synchronization: Integration capacities might consist of real-time or scheduled data synchronization between CaptainBiz and various other systems making certain that information is consistently updated throughout all systems.

Also Read: How To Integrate GST Registration With Your Billing / Invoice Software?

Steps for Setting Up GST Billing Software for Exports

Here is a step-by-step guide on setting up GST billing software smoothly, especially for handling export transactions:

Step 1: Download the CaptainBiz application from your preferred app store and register for a 14-day free membership. You can cancel this subscription at any time. 

Step 2: After installing the CaptainBiz app, follow the instructions to set up your account and configure settings like user consent and permissions, company information, and so on.

Step 3: See the option in the settings/configuration menus in the CaptainBiz app related to export purchases and make sure it is enabled. This might consist of features such as zero-rated tax settings, export billing templates, and documentation tools.

Step 4: Identify the tax rates appropriate to exported products in the tax settings section. To comply with GST policies for zero-rated supplies, set the rate to 0% for export transactions in the tax obligation setups area of CaptainBiz.

Step 5: Check and enable multi-currency assistance and include correct foreign currencies if your export transaction consists of foreign currency exchanges. Through this, CaptainBiz will automatically do currency conversions wherever necessary.

Step 6: Customize the export billing template to include mandatory information needed for export purchases. Now run a sample purchase to check everything is set and configured properly.

Choosing Software: Choosing the appropriate software application that functions well with diverse currencies and conversions is cardinal to operating businesses on an international level. Such software promises a greater degree of financial reporting, complies with legal guidelines, and establishes clear prices for consumers.

Besides this, the software application aids the entire accounting process, minimizes errors, and improves efficiency in managing the cash flow by automating currency conversions. CaptainBiz has a GST Reports feature that offers an effortless solution for managing your Goods and Services Tax (GST) compliance. With quick and errorless integration, all GSTR reports including GSTR1, GSTR 3B, and GSTR4 are automatically updated as transactions are recorded. This ensures high accuracy and eliminates the hassle of manual data entry.

Also Read: Step-By-Step Guide To Getting Started With CaptainBiz Today

Leveraging GST Software for Business Growth

The variety of advanced features offered by GST billing software like CaptainBiz can be leveraged for business growth in multiple ways.

A few of them are explained below:

• CaptainBiz allows you to assess export sales information. This helps you evaluate consumer information to simplify order information like order trends and average order value.

• You can analyze this data to understand consumer behavior. Through CaptainBiz’s Customer Creation feature, the user can create new or edit existing customer/supplier data and easily view the list wherever and whenever required.

• This information can also be analyzed for market research to identify brand-new market opportunities along with predicting future threats. You can produce a purpose-driven advertising project that is based on this information research to cater to the demands of the consumer.

• CaptainBiz allows you to track Key Performance Indicators (KPIs) of the international market to enhance export sales. This can help handle challenges and draw more opportunities for upgradation, leveraging business growth. 

Success Stories of Exporters Using GST Software

For Manufacturers: “I need to keep my costs as low as possible as a manufacturer. This is where CaptainBiz comes to the rescue and helps me with efficient ways of reducing costs I also stay carefree about noncompliance issues.” – Manish Pandey (Lucknow)

For Services: “As a Services person, it’s important to control my Margins. CaptainBiz understands that. I do not have to worry about finding ways to control my margins by committing any mistakes unintentionally. CaptainBiz provides efficient and precise solutions to my problems” – Ali Mirza (Bhopal)

Final Thoughts

CaptainBiz is a GST billing software that gives you the fastest way to get your invoicing organized so that you get paid on time, control your inventory, reduce costs, and grow your business smoothly.

To start your trial of our GST billing software in export, please register for a free demo today and experience how our revolutionary product can completely transform your export works.

Thanks to major automation features, like compliance checks, multiple currency support, and compatibility with other systems, CaptainBiz Software significantly simplifies invoicing, documentation, and compliance for exporters in general. You would not want to let go of this excellent opportunity for the improvement of export processes and a better business growth path.

Click here to register for your demo or free trial: CaptainBiz Software Registration

Frequently Asked Questions

1. What is CaptainBiz?

CaptainBiz is a one-stop billing solution that provides business accounting and inventory management software solutions for small businesses in India. CaptainBiz instantly tracks inventory, monitors payments due to you, and downloads sales reports (compatible with Tally) or GST reports for monthly tax filing. CaptainBiz is endorsed by the Goods & Services Tax Network (GSTN) of India as an affordable and easy-to-use solution for GST and non-GST companies.

2. How do I install and set up CaptainBiz?

Once you register your company on CaptainBiz.com and activate your account, you can simply log in and get started. CaptainBiz account can be used on a personal computer or the CaptainBiz app (available on the Play Store or App Store).

3. Is CaptainBiz available offline?

CaptainBiz is an online, cloud-based software solution. You can access it anywhere anytime but it is not currently available offline.

4. How do I use CaptainBiz?

Register your company for free you will get a 14-day trial on every new registration. Post which you will need to activate your account and once it’s done, your company will be signed up, and you can start using CaptainBiz. 

5. Which types of businesses use CaptainBiz?

CaptainBiz is designed for manufacturers, traders, retailers, wholesalers, distributors, and service-based solutions. CaptainBiz helps businesses with quick invoicing, providing one-stop GST billing solutions, payment tracking, and many more features. 

6. How does GST work in practice?

GST applies to businesses whose turnover for a financial year is over Rs. 20 lakhs. The Centre collects Central GST (CGST) while the State collects State GST (SGST).

Integrated GST (IGST) for the inter-state transactions, is collected by the Centre from the buying state. Dealers, Retailers, Wholesalers, Manufacturers, and Service Providers who pay CGST and SGST are given input tax credits (ITC). This means that they receive a credit for the taxes they paid on their purchases. The credits of the CGST can only be used for the CGST amount paid and the same logic is applied in the case of SGST. Agricultural services, including harvesting, packaging, warehouse, cultivation, supply, and leasing of machinery, are essentially GST-exempt services. For GST rules related to your state, please visit: https://servces.gst.gov.in/services/gstlaw/gstlawlist 

Monish Korde

Monish is a passionate finance content writer with a knack for crafting engaging content, he breaks down complex concepts into clear, actionable steps. Monish’s expertise lies in personal finance and economics.

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