Tally.ERP 9 Series A Release 5.5.2, February 2017

The new Tally.ERP 9 Release 5.5.2 is available now!

Whats new in Tally.ERP 9 Release 5.5.2

  • During certain licensing and product upgrade activities, Tally.ERP 9 had to be restarted manually in administrator mode. Now, Tally.ERP 9 will restart automatically in administrator mode if you have administrator rights. If you do not have administrator rights, you need to provide your Windows administrator user name and password to restart Tally.ERP 9 in administrator mode.
  • While splitting data, Tally.ERP 9 now recognizes excise duty classifications defined using earlier versions of Tally

Release 5.5.2 – Highlights

Telangana VAT and CST

  • Release 5.5.2 supports the latest format of Telangana VAT Form 200 and CST Form VI (for Purchase and Sales).

TDL:

  • Enjoy the newly supported data source types Rule Set, Num Set, and Flag Set, to populate data to a collection using the attribute Data Source

Accounting

  • In the Voucher Type Alteration screen after enabling the option Use advanced configuration?, under the columns Prefix Details and Suffix Details:
    • If a date was entered under the column Applicable From, and
    • If the column Particulars was left blank, the prefix and suffix details entered for the previous period was displayed for the subsequent periods.
  • This issue is resolved.
  • While recording or altering a voucher in single entry mode, if a line item was removed by pressing Ctrl+D, the preceding or succeeding line item was deleted. This issue is resolved.
  • When exported vouchers were imported, the voucher numbers were not retained. This occurred if the option Overwrite vouchers, instead of duplicating, during import? was enabled in F12: Configuration, and Automatic (Manual Override) method of numbering was selected, in the Voucher Type master.This issue is resolved.
  • In an invoice, if the party ledger selected was enabled with multiple mailing details, and predefined with the mailing name of another ledger, the Address Type of the other ledger was displayed in the Party Details screen.

This issue is resolved. Now, in addition to ledger mailing name, the corresponding ledger name is also displayed in the List of Address Types of the Party Details screen.

  • During verification of vouchers for audit, if the sampling method was set as manual sampling by clicking S: Set Manual Sampling in the Voucher Register report, the text Manually Sampled was not displayed against the voucher. This issue is resolved.

Banking

  • While configuring cheque printing by selecting the User Defined format for a bank ledger, the top and bottom lines for A/c Payee in the cheque was not displayed. This issue is resolved.

  • In the Bank Reconciliation screen, while creating a voucher for an unreconciled transaction imported from the bank statement, the field Transaction Type was displaying Cheque in case of payments and Cheque/DD in case of receipts if a different transaction type was set in the ledger master. This issue is resolved.

  • For DBS Bank, when you printed the Bank Reconciliation report, the Particulars column was blank in the print. This issue is fixed, and the Particulars column displays the values as seen in the report.

Payroll

  • An error file with the message Invalid found on line numbers was being generated while uploading the ECR text file. This was occurring as separator characters were getting added at the end of each line in the ECR text file. This issue is resolved.

Click here for release notes

Click here for download

Tally.ERP 9 Series A Release 5.5, January, 2017

The new Tally.ERP 9 Release 5.5 is available now!

Whats new in Tally.ERP 9 Release 5.5

  • Release 5.5 provides important improvements relating to the VAT, Payroll, and the overall product experience in your Tally.ERP 9.

Release 5.5 – Highlights

VAT

  Chhattisgarh, Himachal Pradesh, Jharkhand, and Uttarakhand: New statutory Experience

  • Generate accurate forms and annexures with ease. Also, experience faster exception handling. View and verify Included, Not-relevant and Incomplete transactions seamlessly. Enjoy the flexibility of defining tax rates at various levels, and create user-defined classifications.

Karnataka: Enhanced VAT Experience

  • If you have been using the VAT module in Tally. ERP 9 5.x series to file returns, you will be delighted with the speed with which you can now resolve exceptions. You can group exceptions item-wise or ledger-wise, and resolve multiple exceptions together.

    With Release 5.5 you can,

    o      Use the new Nature of Transactions that define goods at 0% CST against Form C.

    o      Filter e-Sugam voucher details as per the latest notification by the Commercial Taxes Department and as per invoice values defined by you.

    o      Maintain voucher totals even with transactions with discounts.

    o      Experience seamless CST apportionment and accurate voucher totals as CST amount is now added to purchase cost while making inter-state transactions.

Chandigarh: New template supported

  • Export Form VAT 15 as per the latest version (AMM_VAT15(CH).xlsx) prescribed by the Excise and Taxation department.

Haryana: Revised template supported

  • Export invoice-wise details of interstate branch and consignment transfers in the latest format TEMPLATE-VAT-RETURN-R1-LP5-LIST_OF_GOODS_IMPORTED.xls prescribed by the Excise and Taxation department. Click here to understand the changes in the revised template.

Delhi: Commodity details for labour charges collected made optional

  • From Release 5.5 onwards, you can skip entering the commodity name and code details for labour charges collected. This will not be listed as an exception on exporting the annexures from Form D VAT 16.

Payroll

  • New ESI monthly wage threshold of Rs. 21,000 is supported.

  • The revised format of the e-Challan Report (ECR) with support for Universal Account Number (UAN) is provided.

 

Click here for release notes

Click here for download

Tally.ERP 9 Series A Release 5.4.9, January, 2017

The new Tally.ERP 9 Release 5.4.9 is available now!

Whats new in Tally.ERP 9 Release 5.4.9

  • In this release, Tally has introduced the enhanced VAT experience for the states of Rajasthan and Uttar Pradesh, new annexure templates for Tamil Nadu, enhancement of the TDS Nature of Payments report, and the concept of Rule Set as a part of TDL.

Release 5.4.9 – Highlights

VAT

Tamil Nadu: New Annexure Templates

  • Commercial Taxes Department, Tamil Nadu has introduced new versions of Annexure 8 and Annexure 9 (V1.1.xls).  Using Tally.ERP 9 Release 5.4.9, you can export interstate purchases and purchase returns to the new templates.

Rajasthan and Uttar Pradesh: Enhanced VAT Experience

  • If you have been using the VAT module in Tally. ERP 9 5.x series to file returns, for the states of Rajasthan and Uttar Pradesh, you will be delighted with the speed with which you can now resolve exceptions. You can group exceptions item-wise or ledger-wise, and resolve multiple exceptions together.

Click here for release notes

Click here for download

How is the Value of Goods & Services Determined under GST?

Valuation of goods and services in GST

Tax Value of goods/services
Excise Based on transaction value or quantity of goods or MRP
VAT Based on sale value
Service Tax Based on taxable value of service rendered

Valuation of goods and services

Current tax regime

Let us look at how the value of goods and services is calculated in the current regime, with the help of an example:

Super Cars Ltd, a car manufacturer, sells spare parts to Ravindra Automobiles, their dealers for Rs 6,000. The MRP of the spare parts is Rs 10,000. The invoice that is issued to Ravindra Automobiles is illustrated below:

Value of goods and services for tax

Under GST Regime

We have used the same example as above to illustrate the method of valuation of goods and services in the GST regime:

GST Value Calculation
*Assuming GST of 18% on automobile spare parts

In the GST regime, the value of goods &/or services supplied is the transaction value, i.e. the price paid/payable, which is Rs 6,000 in the example.

Additional Charges and Expenses – in the GST Regime

How are additional charges and expenses such as discount, packing charges treated in the GST regime? Should they be included or excluded from the transaction value?

Let us consider this illustration.

Super Cars Ltd sells a car worth Rs 4,00,000 to Ravindra Automobiles.

  • They incur packing charges of Rs 5,000 on the car
  • They provide a discount of 1% on the price, as part of Diwali scheme
  • Super Cars Ltd agree to provide a further discount of 0.5% if Ravindra Automobiles makes payment by 31st of the month via net banking. Ravindra Automobiles makes the payment by 31st of the month using net banking.

The invoice issued to Ravindra Automobiles, under GST, will look like this:

discounts in GST
*Assuming GST of 18% on car

 In the invoice,

  • Packing charge of Rs 5,000 is included in the transaction value.
    Packing charges or any incidental expenses charged before or at the time of supply of goods or services must be included in the transaction value.
  • Discount of 1% is deducted from the transaction value.
    Discount given before or at the time of supply, and which is recorded in the invoice, can be deducted from the transaction value.
  • Discount of 0.5% is not deducted in the invoice. As discount of 0.5% is given after the supply, it will not be shown in the invoice. However, since the discount was known at the time of supply, and can be linked to this specific invoice, the discount amount can be reduced from the transaction value. For this, Super Cars Ltd will issue a credit note to Ravindra Automobiles for Rs 2,360 (0.5% of Rs 4,00,000 = Rs 2,000+ GST@ 18% on Rs 2,000 = Rs 360), and the same must be linked to the relevant tax invoice.
    Discount given after supply but agreed upon before or at the time of supply and can be specifically linked to relevant invoices, can be deducted from the transaction value.

What are the exceptions to this rule?

Answer: Discount given after supply, and not known at the time of supply.

Let us understand this with an illustration.

Super Cars Ltd sells a car to Ravindra Automobiles for Rs 4,00,000. As per the standing agreement, a credit period of 30 days is allowed for payment. However, due to a severe cash crunch, Super Cars Ltd requests Ravindra Automobiles to make the payment within 2 days, promising a discount of 2% on doing so. Ravindra Automobiles makes the payment within 2 days.

In this scenario, since the discount was not known at the time of supply, it cannot be claimed as a deduction from the transaction value for GST calculation.

A summary of the effect of discount on transaction value is given below-

Type of discount Effect on transaction value
If the discount is given before or at the time of supply, and is recorded in the invoice Can be claimed as deduction from transaction value
If the discount is given after supply, but agreed upon before or at the time of supply, and can be specifically linked to relevant invoices Can be claimed as deduction from transaction value
If the discount is given after supply, and not known at the time of supply Cannot be claimed as deduction from transaction value

 

Effect of various charges/expenses of supply on transaction value is shown below-

Charges/expenses related to supply Effect on transaction value
Incidental expenses such as commission and packing Included in transaction value
Interest/late fee/penalty charged by supplier for delayed payment Included in transaction value
Subsidies excluding those provided by the Central and State governments Included in transaction value
Any tax other than GST Included in transaction value
Any amount payable by supplier, but incurred by receiver Included in transaction value

It is expected that GST (Goods and Services Tax) will bring about marked changes in the tax scenario in the country. The various aspects of product pricing, valuation of goods and services, and others will experience significant transformation as the tax system is simplified.

Moving to GST Era: For Registered Manufacturers

current-tax-era-to-gst_1-copy-704x286

The first and foremost task for you, as a business registered under the current law, is transiting to GST (Goods and Services Tax). While it is important to know the fundamentals of GST, it is also very critical for you to understand GST transition provisions available, and take necessary actions to ensure a smooth transition to GST and leverage on transition benefits.

You will need to review your accounting and reporting procedures, procurement, logistic decisions, and so on in advance to avail the appropriate GST input tax credit.

For better and ease of understanding, we have categorised GST transition provisions for each of the below business types:

  • GST for Manufacturer
  • GST for Trader
  • GST for Service Provider

GST for Manufacturers

Some questions you may have:

  • What will happen to the balance input tax credit available on the last day, before GST to be implemented?
  • What will happen to the input tax credit on capital goods which is yet be availed?

 

Today, the manufacturing and sales activity is governed by a separate indirect tax system. Manufacturing activity is covered by Central Excise and Sales is covered under State VAT/CST. Typically, a manufacturer should be registered under Excise as well as State VAT/CST.

As a manufacturer, you need a thorough understanding about the related provisions, and very importantly, you need to know the answer to “what should I do today for tomorrow’s GST readiness?”

Scenario 1: Availed CENVAT and Input VAT Credit

The balance CENVAT and input VAT credit available on the last day, prior to date on which GST is implemented, can be carried forward as Input credit.

What does this mean?

  • The closing balance of CENVAT and input VAT credit should be reflected in the last return filed by you
  • The credit as reflecting in the return should be allowed as CENVAT and input VAT under current law, and
  • It should also be allowed as input tax credit under GST

Today, a manufacturer other than the Small Scale Industries (SSI- whose turnover does not exceed Rs 4 crores) should file their monthly returns in Form ER-1, and  SSI quarterly returns in Form ER-3. They also need to file monthly or quarterly VAT return forms, as prescribed by their respective states. The amount of CENVAT carried forward in Form ER-1 or Form ER-3 as on the last day i.e., the day before GST is implemented will be allowed to be carried forward as CGST (Central GST) input tax credit. The input VAT credit in VAT return forms will be carried forward as SGST (State GST) input tax credit.

Let’s understand this with an example –

Super Cars Pvt Ltd, a car manufacturer located in Karnataka is registered under Excise and Karnataka VAT. As on 31st March, 2017, the Form ER-1 and VAT Form 100 (monthly return form for Karnataka) of Super Cars Pvt Ltd is as given below:

FORM E.R.-1
RETURN OF EXCISEABLE GOODS AND AVAILMENT OF CENVAT CREDIT FOR THE MONTH OF MARCH AND YEAR 2017
DETAILS OF CREDIT
CENVAT
AED_TTA
NCCD
ADE_LVD_CL_85
ADC_LVD_CT_75
EDU_CESS
SEC_EDU_CESS
SERVICE_TAX
EDU_CESSST
SEC_EDU_CESS_ST
Closing Balance 25,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

 

Form VAT 100 (See rule 138)
RETURN
Tax period (month/quarter) March, 2017
Credit/excess payment carried forward 5,000.00

 

As per Form ER-1 and VAT Form 100 of March 2017, Super Cars Pvt Ltd has a closing CENVAT balance of Rs 25,000 and input VAT credit of Rs 5,000. Can Super Cars Pvt Ltd. carry forward the CENVAT and input VAT credit?

Yes, the closing CENVAT balance of Rs 25,000 and Input VAT of Rs 5,000 are fully eligible for Super Cars Pvt Ltd to carry forward. This is because Super Cars Pvt Ltd. satisfies all the 3 conditions explained below:

  • The CENVAT of Rs 25,000 and input VAT of Rs 5,000 are carried forwarded in the return.
  • Under the current statute, CENVAT and Input VAT are allowed as Input Tax Credit.
  • In GST, the same is allowed as Input Tax Credit.

Now, for Super Cars Pvt Ltd, CENVAT will be a CGST credit, and Input VAT will be carried forwarded as SGST credit. This can be utilized to set-off the liabilities in the order as prescribed.

Scenario 2: Unavailed CENVAT credit and Input VAT on capital goods

Currently, under Central Excise, CENVAT credit should be availed to the extent of 50% in the current year, and the remaining in the subsequent year. Similarly, VAT paid on purchase of capital goods will not be fully available as Input VAT immediately. Depending upon the state VAT laws and the type of capital goods purchased, the Input VAT can be availed,

  • In instalments spread over different financial years
  • As credit after commencement of commercial production
  • At reduction value, and so on.

Due to this prevailing restriction for availing CENVAT credit on capital goods, there could be some unavailed CENVAT and Input VAT on the date of transitioning to GST.

Let us discuss with an example to understand better

Super Cars Pvt Ltd purchased machinery on 1st February, 2017. The details of the transaction are shown below:

Particulars Amount (Rs)
Machinery 1,00,000
Excise Duty @12.5% 12,500
VAT @14.5% 16,313
Total 1,28,813

 

As per the current CENVAT provisions, Super Cars Pvt Ltd is allowed to avail CENVAT up to 50% in the current year, and the remaining during the subsequent years. Also, according to the VAT provisions of Karnataka, input VAT credit can be availed only after commencement of commercial production. Let’s assume that commercial production was to begin in the month of June’17.

Considering the scenario – Super Cars Pvt Ltd availed

  • 50% CENVAT i.e. Rs 6,250 in the current year (2016-17).
  • Remaining CENVAT of Rs 6,250 in subsequent year (2017-18).
  • Input VAT credit after commencement of commercial production, eligible in 2017-18.

Will Super Cars Pvt Ltd be allowed to carry forward the unavailed CENVAT of Rs 6,250 and input VAT credit of Rs 16,313 on transition to GST?

Yes, Super Cars Pvt Ltd is allowed to carry forward the unavailed CENVAT credit on capital goods, provided these conditions are satisfied:

  • Under the current statute, CENVAT and input VAT are allowed as input tax credit.
  • It is admissible as input tax credit in GST.

Super Cars Pvt Ltd satisfies all the conditions, and they are eligible to carry forward the CENVAT and input VAT credit.

GST Composition Levy Explained

composition-levy-explained-copy-704x286

The current state indirect tax regime has provided a simpler compliance for small dealers known as the Composition Scheme. Under this scheme you,

  • Pay taxes only at a certain percentage of turnover
  • File periodic returns only (usually on a quarterly basis)
  • Have an option of not having to maintain detailed records or follow tax invoicing rules
  • Are not allowed to take Input Tax Credit (ITC)
  • Are not allowed to collect tax on sales

Thus for smaller businesses, it is simpler to calculate tax liability. This saves time and energy involved in maintaining detailed records.

Let us understand how the composition scheme is different with the following example:

Composition Tax

Composition Levy in the GST Regime

Similarly, the same benefit is provided under the GST regime. Small dealers and businesses could opt for the composition scheme known as Composition Levy. Under this scheme, a Composite Tax Payer pays tax only at a certain percentage of his turnover.

Threshold Limit

  • NE Including Sikkim – Aggregate turnover of the person having same PAN of above Rs 10 lakhs during the financial year but does not exceed Rs 50 lakhs.
  • Rest of India – Aggregate turnover of the person having same PAN of above Rs 20 lakhs during the financial year but does not exceed Rs 50 lakhs.

Rate of Levy

  • Rate of levy is yet be notified
  • Rate of levy will not be less than 1%

Conditions for a Composite Tax Payer

Apart from the threshold limit, the following conditions are applicable for a composite tax payer:

  • No Interstate supplies – A composite tax payer should not engage in interstate supply of goods and / or services and imports.
  • Payment of composition tax – If the composite tax payer is in the trade of supplying goods and services, then composition levy will be applicable for both supply of goods and supply of services.
  • Does not have to collect tax – The composite tax payer does not have to collect tax on all his outward supply of goods and / or services.
  • Applicable for all business verticals under the same PAN – Composition levy will be applicable for all business verticals operating within state or interstate under the same pan.
    What does this mean?

    An individual with different business verticals, like:

    • Mobiles & Accessories
    • Stationery
    • Franchisee

    In the above scenario, the composition scheme will be applicable for all three business verticals. The dealer cannot opt for any one business vertical to fall under the composition scheme.  For example, if the business vertical’s place of business is in Karnataka & Kerala for a single PAN, each of the business vertical in that particular state should have only ‘Intra-State(within state)’ supplies.

  • Cannot claim Input Tax Credit – The composite tax payer is not eligible to claim input tax credit on all his inward supply of goods and / or services.
    What does this mean?

    If a dealer chooses to be a composite tax payer, he cannot claim input tax credit even if he makes taxable purchases from a regular taxable dealer. Ideally, the taxable amount would be added to the composite tax payer’s cost.

Return Forms for a Composite Tax Payer

A composite tax payer is required to file quarterly return and annual return. Types of returns and details to be furnished are explained below:

Return Type Frequency Due date Details to be furnished
Form GSTR-4A Quarterly Auto-populated details of inward supplies made available to the recipient registered under composition scheme on the basis of FORM GSTR-1 furnished by the supplier.
Form GSTR-4 Quarterly 18th of succeeding month All outward supplies of goods and services including auto-populated details from Form GSTR-4A and tax payable details. Details of any additions, modifications, or deletions in Form GSTR-4A should also be submitted in Form GSTR-4.
Form GSTR-9A Annual 31st December of next fiscal Consolidated details of quarterly returns filed along with tax payment details.

 

In the current composition scheme, a composite dealer has to declare only the aggregate turnover of sales. He is not required to declare invoice wise details. In GST, the composite tax payer will file his returns with the invoice wise details of inward supplies which is auto-populated based on Form GSTR-1 filed by his supplier along with the aggregate turnover of outward supplies.

Tally.ERP 9 Series A Release 5.4.8, November, 2016

The new Tally.ERP 9 Release 5.4.8 is available now!

Whats new in Tally.ERP 9 Release 5.4.8

  • In Release 5.4.8, several product improvements and enhancements have been made in areas related to
    • Accounting,
    • Data Management,
    • Inventory,
    • Import/Export,
    • e-mailing,
    • TCS,
    • TDS,
    • VAT, and
    • remote accessibility.

Product Improvements

Accounting Vouchers

  • When a receipt voucher was created by allocating the entire receipt amount to On account in Bill-wise Details screen, and this receipt voucher was later altered to adjust against a sales bill for a partial amount, the sales bill value was not appearing in the Amount field. The Amount field was displaying the entire value of the receipt voucher. This issue is resolved.

Accounting Reports

  • When Cash Flow or Fund Flow report was exported month-wise to any format, the data in the exported file appeared only for the first month. For the remaining months, the data was blank. This issue is resolved.

  • In Balance Sheet columnar view (generated from horizontal format), the negative balances of sub groups belonging to any group were displayed as positive. This issue is resolved.

Contra Vouchers

  • While recording contra vouchers in single or double entry mode, by using cash ledgers created under the Cash-in-Hand group, in the Denominations For window under Bank Allocations, the denomination of 2000 is now provided.

Cash Deposit Slip

  • While printing the Cash Deposit Slip, if you have enabled Print Cash Deposit Slip?, the Cash Denomination section now displays the denomination of 2000. The denomination of 2000 is now displayed in the printed Cash Deposit Slip.

Data Management

  • The error Debug location error Internal error. MsgFile::Walk function status is fixed. If you are accessing Tally data from a shared network location, we urge you to:

TDS

  • A debit note recorded against a TDS purchase transaction with both, TDS and service tax ledgers, was being listed under Uncertain Transactions in TDS Form 26Q or Form 27Q report (with the exception type Expenses/purchase returns not linked with expense/purchase transaction). This issue is resolved.
  • When TDS expenses were booked against two parties, using same TDS nature of payment, and
    • Transactions recorded with the first party were for an amount greater than the single bill value.
    • Transactions recorded with the second party were for an amount lesser than the single bill value.

The value of transactions made with the second party were combined with transactions made with the first party, and displayed under Deduction at Normal Rate in TDS Form 26Q report. This issue is resolved.

VAT

  • A provision is made to copy the default accounting allocation configured in an item master to other stock items or groups.
  • The triangulation report is enhanced to display all tax liabilities under one heading – Sales/Liability. In case of purchases from unregistered dealers, the amount of tax liability recorded in the books and liability not recorded are displayed under different rows for each tax rate. This makes it convenient to know the tax liability.
  • In stock item master, when MRP was enabled and Tax Rate was provided, the Tax Rate updated last in the item master was applied for all items, when opened in alteration mode. This issue is resolved.
  • On drilling down from the triangulation report to the Voucher Register, the transaction in the Voucher Register was displayed in the order in which it was recorded, and not date-wise. This issue is resolved.
  • While printing sales invoice in simple format from display mode, the VAT ledger name and amount were not printed. This issue is resolved.

Payroll

  •  Increase in minimum charges payable for Employer PF Administrative and Employer EDLI Administrative to Rs. 500/- and Rs. 200/- respectively, is supported.

 

And more…..

 

Click here for release notes

Click here for download

Available new stat 269 from 7th November, 2016

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

Vat

Jharkhand :

    • As per the notification, effective from 04 Nov 2016, the following VAT classifications are provided to support the revised VAT rate from 5% to 5.5% :
      • Input VAT @ 5.5%/Purchase @ 5.5%
      • Interstate Purchases @ 5.5%
      • Output VAT @ 5.5%/Sales @ 5.5%
      • CST @ 5.5%/Interstate Sales @ 5.5%
      • Purchase From URDs – Taxable Goods @ 5.5%
      • Purchases – Capital Goods @ 5.5%
      • Purchase Tax @ 5.5%
      • Output VAT – Works Contract @ 5.5%/Sales – Works Contract @ 5.5%
    • As per the notification, effective from 04 Nov 2016, the following VAT classifications are provided to support the revised VAT rate from 14% to 14.5% :
      • Input VAT @ 14.5%/Purchase @ 14.5%
      • Interstate Purchases @ 14.5%
      • Output VAT @ 14.5%/Sales @ 14.5%
      • CST @ 14.5%/Interstate Sales @ 14.5%
      • Purchase From URDs – Taxable Goods @ 14.5%
      • Purchases – Capital Goods @ 14.5%
      • Purchase Tax @ 14.5%
      • Output VAT – Works Contract @ 14.5%/Sales – Works Contract @ 14.5%

Note: Currently, the values from transactions recorded using the above classifications are captured in the VAT Computation report. In future releases, the relevant VAT forms will be enhanced to capture these values.

And more….

Tally.ERP 9 Series A Release 5.4.7, November, 2016

The new Tally.ERP 9 Release 5.4.7 is available now!

Whats new in Tally.ERP 9 Release 5.4.7

  • With this release, you can export data to the latest excel e-filing templates of Bihar.

Release 5.4.7 – Highlights

VAT

Bihar

  •  New tax rates of 6% and 15%, and VAT Schedule III – A for 5% are supported in Accounts and Inventory masters as per latest e-filing requirements.

  • You can now export data to the latest excel templates of VAT and CST forms, and annexures for e-filing.

 

Click here for release notes

Click here for download

Tally.ERP 9 Series A Release 5.4.6, October, 2016

The new Tally.ERP 9 Release 5.4.6 is available now!

Whats new in Tally.ERP 9 Release 5.4.6

  • With this release, you can print and generate an XML file for Form ST-3,
  • export data to the latest e-VAT templates of Haryana and Maharashtra,
  • capture supplier details with Importer Exporter Code (IEC) in Form 2 report of excise.

Release 5.4.6 – Highlights :

Service Tax

  • As per the notification, krishi kalyan cess is supported in Form ST-3. You can save the return, print it as MS Word document and export to XML format, as per the latest Form ST-3 template and XML schema.
  •  In Company Statutory and Taxation, the following changes have been made in the Type of Organisation :

    • Individual/Proprietary has been replaced with Individual/Proprietary/One Person Company with the provision to file half-yearly returns in month-wise or quarter-wise breakup.
    • Partnership and Limited Liability Partnership have been merged as Partnership/Limited Liability Partnership.

VAT

Haryana

  • In Haryana Annexure LP-4, the following fields are mandatory as per the new template version 0.5.0 provided by the department:
    • Goods were transported from outside the territory of India
    • Name of the Railway, Airport, shipping, road transport company post office by which goods were transported in India
  • A new rate of tax 10% (Surchargeable) = 10.5% is introduced for sales and purchase annexures, as per the template version 0.5.0 provided by the department.

Maharashtra

  •  A provision is made to support the latest version of Maharashtra VAT e-return Excel template.

Punjab

  • While exporting VAT Form 16 to the template, commas (,) were getting exported to the amount fields. This issue is resolved.

Excise for Traders

  • The supplier’s Name, Address and Excise Registration No./IEC Code details of self-import transactions were not captured in Form 2for dealer and importer units. This has been enhanced as per the latest template dated 30/09/2016.

Click here for release notes

Click here for download