The Goods and Services Tax abbreviated as ‘GST’ has picked up the Indian market by a storm that seems inescapable. Passed confidently as India’s largest and the only one tax reform since independence, GST surely brings a lot of changes in the country’s tax structure changing it from a federal state-based tax pattern to a unified ‘one country – one tax’ structure. GST is targeted to eliminate the tax barriers that obstruct smooth trading across state boundaries along with the reduction of the cascading tax on tax impact. However, GST doesn’t come as a boon for many businesses with their present accounting systems or Tally solutions being configured according to the previous tax structure.
Changes That GST Brings Along For Your Business Accounting StructureOther than the evident changes in the tax rates on the various goods and services, GST brings a major change in the process of compliance, making it non-repudiable with the idea of ‘invoice matching’. This means that unlike the previous process of compliance where you can submit a summary of your returns, you will now have to submit each of your sales invoice records on a monthly basis. Eventually, this turns out to comply you to accept, reject, or customize all the purchase declarations against you, which afterward amount for the returns you get. This undoubtedly leaves you with the only option to digitize all your data for each single day from day one, here is where Tally Solutions Jaipur can help you!
How Tally Solutions Can Help You With The Introduction of GSTTally Solutions Jaipur comes with its well-customized Tally software solution that can accompany you through your GST journey. With this technology–driven tax regime (GST), Tally is surely a GST-ready solution developed perfectly by the Tally solutions company keeping in mind the intricacies and rules of GST.
How Tally Solutions Can Make You GST-Ready
- Catering The Invoice Matching Needs With Tally Solutions Software Tally ERP 9
- Tally ERP 9 Software from Tally Solutions Jaipur can help you meet the invoice management needs, be it the simple invoices or the complex multi-item and multi-rate invoices in an automated manner.
- The Tally solutions company can customize the software to add it with the functionalities of advance receipt management, supply bill management, management of reverse charges, purchase bill management, export invoices, and input tax credit details, etc.
Seamless Management of GST Returns With Tally Solutions Software
- As according to the norms laid by GST Return forms, Tally Solutions Jaipur has developed the
- Tally.ERP 9 Software to eliminate the complexities of screen invoice-wise information.
- Error detection and correction is made a lot easier with new Tally software, with a preview available for the effect of the modification on any GST Return.
- Finalized return forms from Tally solutions software can be exported in the standard GSTN format.