GST Filing Being Possible with the help of Tally GST Software

Tally GST Software

The Goods & Services Tax (GST) was introduced in India on July 1, 2017, necessitating a GST-ready accounting application. Tally ERP 9 offers GST-ready software for simple financial data management, allowing businesses to provide only GST commencement dates for certain transactions, without affecting previous tax regime information.

What is GST software?

The Goods and Service Tax Act (GST) was introduced in India on July 1, 2017, and has significantly impacted taxation policies. A GST council was established to simplify rules and simplify accounting for businesses.

Regular dealers file GSTR-1 monthly, while less than 1.5 Cr. businesses file quarterly. Composite dealers file GSTR-4 quarterly. E-way bills are mandatory for goods worth 50,000 and above.

Why do businesses need GST Software?

Suppliers record purchases, so be mindful of the bill of purchase and choose vendors appropriately for seamless GST use. Customers can request invoice uploads if GST is paid by the seller.

Engage in matching transaction practices, as returns will be filed by your Tax Return Preparer. Exchange information with TRP may increase, leading to data changes. If inward stock does not reflect outward stock, upload all supplies outward, including cash sales.

What is Tally ERP 9?

Tally ERP 9 is a popular accounting software that simplifies business accounting and auditing, fulfills GST filing requirements, and is GST-ready, allowing for easy processing and recording of GST transactions for accurate annual accounting disclosures.

Why use Tally GST Software?

Tally GST software is a reliable and efficient GST accounting tool that accurately records transactions at the transaction level. It allows users to easily file GST invoices, reports, and transactions in GST format, export data to Excel Offline Utility tools, and manage E-way bills.

What are the advantages of using Tally ERP 9 for GST?

Tally ERP 9 provides GST invoices and transactions with error detection and correction functionality, allowing easy exchange of return data with tax experts.

It allows filing of GSTR-1, GSTR-3B, and GSTR-4, generating and maintaining e-Way Bills, and facilitating quick modification exchanges for tax consultants. Tally GST billing software supports various invoice types and tax rates.

Tally’s GST software features

The features of the Tally ERP Software with GST are :

• Tally ERP 9 on Cloud allows easy, safe, and fast access to business reports from any device via a web browser, ensuring a secure and efficient experience.
  
  
• Tally ERP 9 Release 6 simplifies GST billing by activating GST, inputting GST registration and tax rates, creating tax ledgers, and creating and printing sales invoices.

• GST-Ready Tally manages GST transactions, invoicing specifications, reverse charges, enhanced payments, branch transfers, journal adjustments, composite dealer’s bill of supply, and export business invoices.

• Utilize GST with Tally ERP 9 Release 6 to identify supplier lapses and ensure valid input tax credit by promptly highlighting these issues.

• Enhance customer loyalty and business growth by monitoring pending invoices, ensuring customers receive input tax credits, and enhancing their business experience.

• Tally’s GST application helps detect and fix mismatches before uploading to GSTN, ensures smooth GST returns, and allows easy export of returns. It adapts to business needs, handling basic invoices, multi-item bills, and more.

How to use GST in Tally ERP?

To operate GST applications in Tally ERP, users need to understand GST types. To create a company, activate GST functionality, and create a ledger, make a GST calculation before accounting entry. Tally automatically calculates tax based on inputs.

How does Tallystack’s Tally on Cloud service help users?

Tallystack provides GST-ready tally software on a cloud-based platform, enabling GSTR filings, e-way bill recordings, auditing, billing, taxation, inventory management, and ratio comparison, enhancing company performance and financial position.

Conclusion

Tally on Cloud simplifies maintenance and operations for companies, enhancing performance and accuracy in accounting, billing, auditing, and GST. Tally providers handle management, allowing for more focus on main activities.

To experience the benefits of Tally GST on Cloud, try a free trial or visit Tallystack. in.