Tag: gst

Tally launches ERP 9 Release 6.0.3, helps to generate Form 3B

Tally launches ERP 9 Release 6.0.3, helps to generate Form 3BIt’s a little over a month that GST has come into effect and under normal circumstances businesses would be hurrying to file their GST returns. The government with a view to calm the nerves among business owners has provided some relief with the regular filing norms being relaxed for the first 2 months. As a substitute to this, all businesses are expected to submit a consolidated summary of their sales and purchases through a form called 3B. However, this still needs to be a submitted in the GSTN portal like a regular return. Tally Solutions, the premier Indian software company, has announced the release of Tally.ERP 9 Release 6.0.3 which will allow users to generate Form 3B.

Given how critical precision of data is in the GST regime, Tally.ERP 9 Release 6.0.3 promises easy generation of accurate Form 3B through its powerful error handling experience which intuitively prompts the user on gaps in transactions and helps correct them. In addition, the release supports vehicle, LR/RR numbers in GST invoices, invoices with cess support for tobacco based products and coal and refund for cancelled transactions against advance receipts and payments. Users will also get a dashboard which details of reverse charge liabilities arising out of dealing with unregistered dealers….Read More

India Smartphone shipment shrinks due to GST

India Smartphone shipment shrinks due to GSTAs per the news report, Canalys, a market research firm has reported that smartphone market has contracted for the first time in India. The report highlights that shipment of smartphone fell by 4% year-on-year to 27 million units in the country. This drop in the shipment is mainly due to the implementation of GST which took place on July 1,2017.

talking about the impact of GST, Rushabh Doshi, Canalys Analyst said that the entire market is confused over GST and a lack of awareness about the changes that are needed. He also added that the market has adopted a wait-and-see policy as the distributors and retailers are apprehensive about the impact on prices.

Most of the banks have automated Core Banking functions. Their collection process grossly remains manual, maybe because it is outsourced to collection agencies and they have not been deploying technology ….Read More

Dell EMC, SAP enable MSMEs become GST-ready with GST-in-a-box solution

Dell EMC, SAP enable MSMEs become GST-ready with GST-in-a-box solutionDell EMC has announced that it will deliver comprehensive on-premise digital Enterprise Resource Planning (ERP) solutions to enable Micro, Small & Medium Enterprises (MSMEs) across India to become Goods and Services Tax (GST) ready. SAP’s pre-packaged “GST-in-a- Box’” solution will be available to MSMEs through joint go-to-market initiatives across 30 SAP GST solution centres across 15 cities in India. Through the new solutions, customers can make their businesses GST-ready in 100 days, thereby ensuring minimal disruption when it comes to transitioning to the new tax model while focussing on what they do best.

The Goods and Services Tax (GST), a single-window taxation system, is expected to be a catalyst in the digital transformation of Indian businesses of all sizes, including MSMEs. As per a CII report, this sector contributes up to seven per cent of the manufacturing GDP, 31-per cent of the GDP from service activities and 37 per cent of manufacturing output to the Indian economy. There has also been a growing focus of the Indian government on MSMEs across industries. A five per cent reduction in income tax declared in the Union Budget 2017 will prove beneficial for the sector, thereby encouraging their growth prospects….Read More

Tally to conduct 7,000 GST adoption camps

Tally to conduct 7,000 GST adoption campsTally Solutions has announced that it will conduct 7,000 “Upgrade your Tally” camps across the country to help customers move to GST ready software.

The company will work with its network of 28,000+ partner network in the country to cover all cities and towns. The schedule of camps is available at tallysolutions.com/events.

Businesses can walk into any of these camps as per their convenience between 8 AM to 8 PM, get their Tally upgraded to GST ready Tally ERP 9 Release 6 and also get their GST queries answered by GST experts. In addition, businesses who are interested to experience GST ready Tally will also be able to get a free demo of the product on-site. The company is also hosting DIY tools on its site help.tallysolutions.com to simplify the migration process….Read More : http://www.varindia.com/news/tally-to-conduct-7000-gst-adoption-camps

Tally to conduct 7,000 GST adoption camps

Tally to conduct 7,000 GST adoption campsTally Solutions has announced that it will conduct 7,000 “Upgrade your Tally” camps across the country to help customers move to GST ready software.

The company will work with its network of 28,000+ partner network in the country to cover all cities and towns. The schedule of camps is available at tallysolutions.com/events.

Businesses can walk into any of these camps as per their convenience between 8 AM to 8 PM, get their Tally upgraded to GST ready Tally ERP 9 Release 6 and also get their GST queries answered by GST experts. In addition, businesses who are interested to experience GST ready Tally will also be able to get a free demo of the product on-site. The company is also hosting DIY tools on its site help.tallysolutions.com to simplify the migration process….Read More

Alankit unveils cloud-based “GST Muneemji” solution

Alankit unveils cloud-based “GST Muneemji” solutionAlankit is a multi-business conglomerate operating in the financial services and e-governance domain for the past 25 years. It is an authorized GSP (GST Service Provider) and is working relentlessly for smooth implementation of GST regime across all business genres throughout India. With an aim of spreading awareness and getting businesses on-board with GST for increased compliance, the company initiated an evangelization drive throughout the nation covering 22 cities, including metros and tier II towns (Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Cochin, Ahmedabad, Indore, Guwahati, Raipur, Visakhapatnam, Lucknow and Chandigarh). Alankit has also launched a cloud-based solution for tax professionals called “GST Muneemji” and a portal called http://www.alankitgst.com which offers quick and easy-to-comprehend information on various aspects of GST.

For smooth implementation of GST across business sectors, the company has launched “GST Muneemji” – a cloud-based solution for tax professionals. This solution comes at an annual subscription of Rs.5,000 per GSTIN and allows a taxpayer/ tax professional to file up to 14,000 invoices. For invoices above 14,000, the end-user may avail a top-up plan which offers filing of another 1,000 invoices in Rs.300….Read More : http://www.varindia.com/news/alankit-unveils-cloudbased-gst-muneemji-solution

MSMEs foresee a mix of opportunities and challenges under GST regime

MSMEs foresee a mix of opportunities and challenges under GST regimeMSME (Micro small and medium enterprises) share a major presence in the Indian economy with a contribution of 37.54% to its GDP. Also, it has been continuing to maintain a strong foothold in the market contributing to nation building. The role of MSME role is very crucial with regard to job creation, employment generation, increase in income of people and the overall economic growth.

The Ministry of MSME with a total budget of Rs. 85.705Cr, including Government of India’s contribution of Rs. 58.105Cr during 2017- 18 to 2019-20 has decided to implement Digital MSME scheme for promotion of information communication technology in the MSME sector. Through this the government envisions to make MSME digital, and plan to promote ICT in MSME industry along with the implementation of the scheme.

The GST regime holds an enormous opportunity for various sectors of the economy and is expected to herald a new era of indirect tax regime. By replacing various indirect taxes, GST is expected to be a key step in the field of indirect tax….Read More