NEWS

"We are helping customers to transition smoothly to the GST regime"

By VARINDIA - 2017-09-07

Tejas Goenka, Executive Director - Tally Solutions

"We believe GST is a journey for all businesses in the country and we are committed to walking this journey with them. Before GST came in, we spent considerable amount of time and effort in educating businesses across the board on the new law and how they will get impacted by it. This was backed up with forums like our blog (blogs.tallysolutions.com), a mobile app on GST (Tally for GST available on the app store and Playstore) and more than 5000 events to spread awareness. With GST getting implemented, we launched our GST ready software Tally.ERP 9 Release 6 which makes it very simple for businesses to record and maintain accurate GST ready invoices. Now with the return filing season coming in, we are enhancing our product to deliver accurate returns at the click of a button. To enable smooth adoption of the product we are holding Tally camps and Kendras across the country where businesses can move to Tally easily. We are also working with the ICAI to enable CAs on technology so that their clients can benefit as well. As the laws and associated technologies evolve, we will support businesses so that they can easily adapt.

There have been different kinds of changes. Services have generally seen an increase and so have products whose rates have increased from what they were in the previous regime. However, there have been quite a few goods for which the new GST rates are lower than what they were earlier and therefore effective price for the end consumer has come down. Also, the fact that the ‘tax on tax’ has been done away with has also resulted in decrease in prices as seen prominently in the automobile sector. However, with potential of savings that businesses can make because of increased ability to claim input credit on various expenses is still not being realized by them and will require few more cycles. Once this starts happening, we anticipate prices to come down."