GST in Tally ERP 9

GST (Goods & Service Tax) is the complete overhaul of corporate taxation in India with its hope of simplifying a number of separate taxation laws active in India including VATs and service tax. GST Bill was officially accepted by President of India on Sep 8, 2016 and following that GST council is working tirelessly to decide on various nitty-gritties of GST. As of Jun 22nd 2017, it is on track to get launched by July 1, 2017.

As a result of GST, all accounting systems of small, medium, as well as large companies need to change and large number of accounting and finance professionals need to get trained on new GST rules and regulations. Tally is India's premium accounting software company and its flagship product Tally ERP 9 is used by businesses across the length and breadth of India.

Tally is currently working hard to support all different GST rules and regulations as part of Tally ERP 9 Release 6.

GST in Tally ERP 9 Release 6

Tally ERP 9 is getting ready for GST with its release number 5.5. Subsequent release will have more and more features available based on updated rules and regulations of GST, with full feature support available with ERP 9 Release 6.

Tally.ERP 9 Release 6 is GST-Ready Release with following features:

  • Quick set up of your GST details so that your business can start without any delay
  • Support for all GST Transactions for your business
  • Easy detection and correction of errors for hassle-free tax return filing
  • Seamless export of returns in Excel to upload returns
  • Ability to Upload GST data directly to GST server and corresponding efiling
  • GST Returns directly from Tally Software

As of June 22, 2017, Tally.ERP 9 Release 6 is in preview mode and should be finally available during the first week of July.

Tally ERP 9 release 5.5 has support for following core GST feature:

  • Triangulation Report (To prepare for GST and to Detect & Correct Errors)
    To give an idea of upcoming features we need to understand the typical returns that need to be filed by a taxable company or person as part of GST regulations.

  1. By the 10th of subsequent month, a taxable company/person needs to submit GST Return 1 (Form GSTR-1) that will have details of all outward supplies

  2. On 11th of a month, one will be able to download Auto populated form GSTR-2A which will contain details of inward supplies based on GSTR-1 filed by ones suppliers

  3. By 15th of a month, one will have to submit Form GSTR-2 (with proposed corrections to GSTR-2A)

  4. By 20th of a month, one will have auto populated Form GSTR-3 with all details and ready for payment of taxes

Tally ERP 9 will have support for all these returns and also for uploading invoices, proposing corrections etc.

We will update this article as more and more information becomes available about exact process to be followed in Tally ERP 9 for GST.

GST in Tally ERP 9 pdf

Lot of our visitors have been asking about GST in Tally ERP 9 details in pdf form. As of now, GST support in Tally ERP 9 is still work in progress. This is due to the fact that GST council has still not finalized all GST rules and regulations. Once these are decided, Tally will have an updated release available with all GST features needed for small and medium businesses. We will create the GST in tally ERP 9 pdf at that moment and put it here.

Category: finance gst