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Tally.ERP 9 Release 6.4
Whether your business is based in the UAE or KSA, generate VAT returns with confidence using Tally.ERP 9 Release 6.4
Tally.ERP 9 Release 6.4 is built to enable simplified VAT compliance for customers in the UAE and KSA.
If your business is based in the UAE, you are required to file VAT return on a monthly basis. The last date to file the return for January 2018 is February 28, 2018. If your annual supply of goods and services is in excess of AED 150 million, you have to submit returns on a monthly basis.
If your business is based in KSA, you can generate the VAT return in MS Word format and use it as a reference while filling in details in the GAZT e-portal for filing the return.
Generate VAT return with confidence
Define tax return period:
- If you are in the UAE, you can start by defining the tax period as specified by the Federal Tax Authority (FTA).
- Before generating the return, get a complete overview of all transactions and taxes. The VAT tax computation and analysis report shows transactions which have been included or excluded in the return, the total amount of tax to be paid, and refundable amount if paid in excess. You can drill down further from each of these groups to find out why.
- Tally.ERP 9 raises alerts in case of tax mismatches, missing TRNs/TINs or missing tax components. This lets you take corrective action immediately.
- If your business is based in the UAE, you can generate the VAT return in PDF format and use it as a reference while filling in details in the FTA e-Services portal for filing return. If your business is based in KSA, you can generate the VAT return in Word format as specified by the General Authority of Zakat and Tax (GAZT).
- You can save a copy of the filed return in your system. Tally.ERP 9 will point at any changes which are made on the saved return period based on which you can revise your return if required..
Track reverse charges and Input Tax Credit
In Release 6.4, you can mark transactions with reverse charge applicability, and transactions for which you have paid VAT at customs. This way you can track reverse charges and Input Tax Credit.
Let Tally.ERP 9 manage VAT compliance while you focus on business growth.
Visit TallyHelp for further information.
Read our Release Notes to know about the capabilities of 6.4 in more detail.
Click here to check if you can upgrade to this release.
To buy or upgrade, visit https://tallysolutions.com/mena