Tally Solutions

In the 31st GST Council Meet, it was decided that a New Return System under GST would be introduced for taxpayers.

Budget management is an effective tool for organisations to better manage their expenses and costs. It is traditionally the domain of financial managers.

The trial balance could be defined as a statement or a list of all ledger account balances taken from various ledger books on a particular date to check the arithmetical accuracy.

There are three methods in which a Trial Balance can be prepared. Which are as follows; Total Method or Gross Trial Balance, Balance Method or Net Trial Balance and Compound Method

GST rates are classified into 4 Tier Structure of which some of the commodities are in high tax brackets of 28% and basic essential commodities are placed in lower tax brackets of 5%, some with NIL.

With Tally.ERP 9, composite dealers can easily manage their business and compliance needs. Here are the key enhancements for Composition scheme in Tally.ERP 9.

The prime motive of the composition scheme is to provide a simplified tax payment regime for the small taxpayers. It is optional and is mainly for small traders, manufacturers and restaurants.

Goods and Service Tax Network (GSTN) is the backbone of the GST Portal which acts as a medium of interaction between the taxpayers and the government.

Invoicing rules under the GST act mandates the issuance of an invoice or a bill of supply for every supply of goods or services.

Composite Dealer feature provides comfort to the assessee by discounting them from the requirement of paying tax on value addition by maintaining detail of 'inputs' and 'outputs

A scenario could be defined as a description of a possible set of events that might reasonably take place.