Introduction Tally ERP-9 & GST

Tally ERP9 is developed by Tally Solutions India Private Limited.Tally is a complete business solution, which provides the solution of the accounting needs for business for all types and it supports many currencies as well as multi user interface.It is user friendly account package for computerized accounting software. It contains Accounting, Book – Keeping, Inventory Accounting, Management Information System (MIS) and Payroll (only tally 9 ) etc. Tally ERP9 GST GST has replaced many Indirect Taxes in India. The GST Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017. Below are the types of Goods and Service Tax

Types of ( GST ) Goods and service Tax

1. CGST CGST is a Central Goods and services tax. It is applicable on suppliers dealing within the state.

2. SGST SGST is a state Goods and services tax. It is useful to suppliers who dealing within the state. Taxes which are possessed will be shared to state authority body.

3. IGST IGST stands for an Integrated Goods and services tax. It is applicable to suppliers who dealing interstate business and import transaction. Taxes which are collected will be shared to central and state authority body.

4. UTGST If the transaction is related to any union territory (Andaman and Nicobar Island, Lakshadweep, Dadra and Nagar Haveli, Daman and Diu and Chandigarh)

Is GST on Track? What we can Infer from the Budget Speech

Our Finance Minister, Mr. xyz , in his Budget Speech, did not elaborately discuss the roadmap of GST.I thank all individuals from both the Houses for having passed the Constitution Amendment consistently”. He additionally said thanks to the State Governments for settling every important issue in the GST Council.

This is a clear indication from the Finance Minister that major hurdles to GST implantation are cleared from the GST Council. The FM said that the GST Council held 9 contest to discuss different issues relating to GST, along with broad contours of the GST rate format , threshold discharge and framework for composition scheme, details for compensation to States due to implementation of GST, examination of draft model GST law, draft IGST law and the Compensation Law and administrative mechanism for GST. Further he said that the GST Council has finalised its recommendations on almost all the issues based on consensus.

Regarding readiness of the new law, our FM said that several teams of officers both from the States and Central Board of Excise and Customs have been working tirelessly to give close touches to the model GST law and other details. He also accepted that GSTN’s (IT arm of GST) arrangement of IT systems for GST is also on schedule.

Regarding the date of implementation, the Minister said, the Centre, through the Central Board of Excise & Customs, shall continue to strive to achieve the goal of implementation of GST as per schedule. Even though the Honourable minister did not spell out the date of implementation, the Revenue Secretary to the Ministry of Finance, Government India, Mr.Hasmukh Adhia did confirm to a private news channel that GST will be implemented on July 1st 2017. He also informed that the Govt. has pegged indirect tax growth of 8.8% while calculating the revenue for the fiscal year 2017-18.

The highlight of the Finance Minister’s speech is that he has pegged the fiscal deficit for 2017-18 at 3.2% of GDP and remains committed to achieve 3% in the following year. With this gradual approach, he ensured adherence to fiscal consolidation as recommended by FRBM report on fiscal consolidation roadmap. If this road map demand to be complete, then achieving the targeted revenue is inevitable, and achieving the fiscal object revenue may be available only by realize GST (to achieve the targeted Indirect Tax Revenue based on GST) at earliest. We are presuming that the Government is zealous about maintaining the Fiscal discipline and implementing GST on time.

Further one can also predict that Indirect Tax revenue growth of 8.8% in the first year of implementation is not easy for the Government to achieve, that too within 9 months. We are presuming here that the Government will not only implement GST on time, but with vigour, and expect high compliance from businesses.

With all this, there are enough and more indications from the Government that it is keen to implement GST from 1st of July 2017. Mr. xyz’s statement in the Budget Speech that he does not prefer to make many changes in the current regime of Excise & Service Tax because the same are to be replaced by GST soon is like the icing on cake.

Therefore, it is time for businesses to gear up for Tally ERP9 & GST readiness since GST transformation is not an overnight affair.

Tally ERP9

TALLY SOFTWARE VERSIONS Tally Solutions India Private Limited has developed Tally Software in the Year 1988.

  • The First Version of Tally is 4.5 (Dos Based) 1988
  • Later They developed 5.0 (Windows Based) in 1992
  • Tally 5.4 version developed in 1994.
  • Tally 7.2 Version developed in 2005
  • Tally 8.1 & 9 version developed in 2006

Tally ERP-9 is a perfect Account stock, tax estimate and finance programming. tally ERP-9 is exceptional related to other Accounting Software. tally ERP-9 is being applied by business corporations to keep up their books of Accounts. It is important to keep up the record of every money-related exchange. Certificate in Tally 9 provides basic skills to students to complete all kinds of accounting action as required by the industry. Tally ERP9 & GST is a full business accounting solution. It has high speed and real-time access to information. Tally course is of two months period and training is hand over by the capable faculty. Most of the companies suggest hiring people who have in-depth and skillful knowledge of Tally software.

CBitss Technologies offers an inclusive Tally training in Chandigarh. The extensive practical training provided by Tally training institute in Chandigarh. Equips live projects and simulations. Such detailed Tally ERP9 course has helped our students secure job in various MNCs. The trainer at CBitss Technologies are subject specialist corporate professionals hand over in-depth study in Tally Software courses in Chandigarh. Participants completing the Tally Software certification have the plethora of job opportunities in the business.