Goods and Services Tax (“GST”) was recently implemented in India. The implementation of GST requires sellers to adapt to the new system of taxation. The sellers may have to pay special attention to some aspects of the business while transitioning to GST, these are:Invoicing under GST:
Invoicing is a major step in fulfilling any sale transaction. Under the GST regime, two types of invoices are contemplated, namely tax invoice and bill of supply. Generating these manually is time-consuming and requires great attention to detail. A computerised system in this case can make the process faster and easier. Filing returns under GST:
GST returns should be filed online. Based on the different schemes your business is registered under, you may need to file your returns monthly or quarterly and once annually.
Some sellers may perform all these tasks manually, with the help of their CAs. However, sellers also have the option of opting for an account management system to take care of the GST fillings for their business. Tally. ERP 9 Release 6.1 software supports you in running your business operations offering book-keeping, account management, invoicing and other services to comply with GST rules. Here are some of the things you can handle with the help of this software:Running your day-to-day business operations:
Set up all the required tax rates, and maintain GST registration details of all your suppliers and customers.
Ensure that all new transactions are GST-compliant, and print GST compliant invoices.Submitting your returns:
Tally.ERP 9 allows to generate GSTR-1
. You can go to Form GSTR-1 report, apply corrections to vouchers that appear in incomplete/mismatch of information, and export the same to an Excel worksheet, which can then be validated using GSTN offline tool and uploaded to the GSTN portal.
It also allows you to fill and print Form GSTR 3B
, which generates a Word document. This document has the same fields as required by the GSTN portal, making it convenient for the user to fill the details on the GSTN portal. This will give you supreme confidence for filing Form GSTR 3B, review it and then fill in the values on the portal.
You can purchase GST ready Tally ERP 9 Release 6.1
on amazon.in. Explore various online selling options for your business by registering as a seller on Amazon.