Tally launches latest Release for GSTR1
In the wake of the changes proposed by the government as a result of the recent GST council meeting on 6th October, Tally Solutions the country’s premier business software provider has launched Tally.ERP9 Release 6.1.1, the latest in its suite of GST ready releases. The company has factored in some of these changes in the software which has further enhanced the return preparation process, making it easier for GSTPs and businesses to file returns for GSTR1.
Some key changes factored. Suspension of reverse charge mechanism: in keep- ing with the new change, the software will not calculate GST on purchases from unregistered dealers (URDs) as part of the GSTR1 filing. GST on advances received not required for SMEs: the software as per the latest rules will not calculate GST on advance payments for SMEs with an annual aggregate turnover up to INR 1.5 crore. For larger businesses, the software provides for an option to account for this calculation while filing returns.
The software has not just adapted to the council changes quickly, it also offers the consumers empowerment to ensure a smooth return preparation so that the submission pro- cess is accurate, error and hassle free.
Commenting on the recent developments, Bharat Goenka, Managing Director, Tally Solutions, “We commend the government’s responsiveness to address the concerns of SMEs on ground. As a software provider, we have tried to adapt to these changes into our software to ensure a smooth and seamless GSTR1 filing process for the SME. We will continue to work closely with GSTN and bring out our further releases that can enable our customers and GSTP community to create and submit returns from our software itself in an easy and effective manner.”
Consumers see two areas of challenges in the GST return filing process, namely the preparation of returns and the submission of these returns. Tally. ERP 9 validates the GSTIN number, HSN codes etc. which helps avoid rejection on the GSTN portal. Through various layers of data correction and the unique error detection capability, the user is assured of an accurate filing process. In addition, having worked closely with GSTN and its offline tool, the company has worked to increase precision and ensure seamless transfer of data to the offline tool, thereby ensuring a smoother return submission process.