Blogs

Lakhs of businesses in India are today running on Tally.ERP 9. Many of these are using Tally’s latest version – Release 6.3.1, while others are yet to upgrade. This blogpost intends to inform business owners why they need to continuously upgrade, currently to Release 6.3.1 in case they haven’t.
 

The GST law which was introduced in India in July 2017, makes it mandatory to print the GST Numbers or GSTINs on invoices. This is something that you must already be aware of. Thereby, as a business owner, you need to ensure that you have the right GSTINs of your suppliers and customers entered in your GST returns for successful filing.

Introduction
The Marked Vouchers feature which is available in the latest release of Tally.ERP 9, makes it very easy for both business owners and tax consultants to update their books with changed vouchers conveniently, at any point in time.
In this blog post, we will explain how Marked Vouchers feature works and how it proves to be an extremely useful capability in different business scenarios.
 

The GSTR-3B form has to be filed every month by regular dealers, until March 2018. By now, as business owners you must be clearly aware of the details that are required to be included in the GSTR-3B for successful filing. You must have also filed GSTR-3B for the months from July to November 2017 by now.
 
In this blogpost, we will focus on the various formats in which you can generate GSTR-3B form, as per your preference, by using the latest version of Tally.ERP 9. With the help of these formats you can easily file GSTR-3B using Tally.ERP 9.

Every business wants to be GST compliant and a key prerequisite for this is to be able to generate correct GST invoices. This again is based on a key principle of GST, which is invoice matching. Every business is expected to upload details of each and every invoice on the GST portal. Thereby it is critical that invoices capture right information so that returns don’t get rejected on the GST portal.
 

Update: As per a tweet from the official Twitter handle of the GST Council on the evening of 1st Feb, 2018, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods, in view of the difficulties faced by businesses in generating the e-way bill due to technical glitches. It shall be made compulsory from a date to be announced

India being a federal nation, the Central Government is empowered by the Constitution to levy duties and taxes on the manufacturing and rendering of services. The government in the states are empowered to levy tax on intrastate sale of goods, in which movement of goods happen within state jurisdictions. When the sale of goods involves movement of goods between different states, the Centre is empowered to levy tax on such sales, and the revenue so collected, will be shared by the Centre and the State.

In the GST regime, broadly two types of invoices will be issued – Tax Invoice and Bill of Supply. Tax invoice is to be issued by a registered taxable person for the supply of taxable goods or services. The bill of supply is to be issued by a registered taxable person for the supply of exempted goods or services, and for supplies by a composition tax payer.
In this blog, considering the latest additions in the GST Law, let us understand the invoices to be issued in specific business cases and the details required to be specified in these invoices.

Invoicing is a crucial aspect of tax compliance for every business. It is essential to be aware of the rules of invoicing under GST. Let us understand these in detail.

Invoicing in the current tax regimes
In the current tax regimes, two types of invoices are issued:

1. 1. Tax invoice – This is issued to registered dealers, and can be used to claim tax credit. Sample formats of the two main types of tax invoice in the current tax regime, the Rule 11 Excise invoice and tax invoice are shown below.

Introduction
“At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom.”
These words of our first Prime Minister Pt. Jawaharlal Nehru, spoken at the midnight of 14th August, 1947 – as India prepared itself to welcome independence from the British rule – will hold true again 70 years later, as the nation prepares itself to herald a new era – promising freedom from tax duplications, freedom from tax complications and freedom from tax corruption.