Tally launches GST Pro initiative for the GSTP community

Tally Solutions has participated in the “National Conclave on GST” organized by the Institute of Chartered Accountants of India (ICAI) on 1st & 2nd June at Hotel Le Meridian in New Delhi. As the country approaches the first anniversary of GST in a month’s time, it was an ideal platform to reflect on the experiences of the past one year and what to expect in the next few months.

Recently, at the 27th GST Council Meet, the government had approved of a simplified and semiautomatic invoice matching system, which is expected to work in favour of the small businesses. The new system will put to rest the earlier concerns on timely ITC and restriction on the cash flow, which will not affect the day-to-day business operations.

Rakesh Agarwal, Product Management Head, Tally Solutions, was part of the conclave and addressed the gathering on the importance of technology to ensure effective compliance and increase the adoption numbers by the small tax player. He also said, “After a lot of speculation, the government has made a decision on the simplified return filing process. Our experience from the past one year shows that earlier the awareness and education on a return filing model begins, the better it is for the whole economy to move to new process with minimum disruptions. A key component of the new process is that the buyer is eligible for ITC on the basis of the invoices uploaded by the seller. In such a model, it becomes extremely critical for businesses to adopt a technologically robust and reliable software.”

Another key area discussed in the conclave was the mandatory implementation of e-way bill in the country, from 3rd June onwards. To ensure businesses can transition easily to the new law, Tally’s most recent release, Tally.ERP 9 Release 6.4, makes it very simple to generate and manage e-way bills. The solution is flexible and accommodates various exceptional circumstances that different businesses might find themselves in while complying with the new reform.

To emphasise on the importance of CAs and GSTPs in the new tax era, Tally has launched initiatives like the GST Pro Programme and taken measures to build the CA community. The GST Pro Programme targets the growing GSTP community, with an aim to build a powerful network of GST consultants and extend the benefits of this network to businesses across the country. Currently, there are approximately 5,000 GSTPs part of this programme. The CA community has a dedicated website with approximately 6,000 registered CAs. As part of this community, CAs can participate in discussions around GST and be updated on the latest developments. They have access to exclusive articles and videos of eminent CAs and industry leaders.

The two-day conclave addressed concepts related to Place of Supply, Input Tax Credit, Compliance under the GSTN and E-way Bill.