Taxation and Compliance

Prevention, detection and correction technology for accurate return filing

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GST compliance and filing

Whether you file GST returns yourself or share the data with your tax consultant, TallyPrime makes GST filing simpler for you. The built-in capability of error detection and correction ensures that you file your GST returns correctly.

e-Invoice

With TallyPrime, you can generate e-invoice instantly with no changes to invoicing process that you follow. With TallyPrime’s connected services, you can automatically generate e-invoice and print IRN & QR code on the invoices without manual intervention. TallyPrime also supports the bulk generation of e-invoices and offline generation e-invoice file (JSON) to handle exigency scenarios.

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GSTR-2B and GSTR-2A reconciliation

Simply import your GSTR-2B/2A statement, and TallyPrime will automatically reconcile and give you a quick and comprehensive summary of reconciled transactions and the mismatches.

The best part is that all the unreconciled transactions are flagged in different categories, helping you know the reason for mismatches and take suitable action to resolve them.

Fully connected e-way bill solution

Using TallyPrime’s online connected e-way bill solution, you can instantly generate e-way bill for a single invoice in the flow of recording invoice or multiple invoices from a report. All you need to do is just record an invoice and TallyPrime will automatically generate e-way bill and capture e-way bill number on the invoice. This comes with an option to extend, cancel and update e-way bill details online within TallyPrime.

 
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Manage MSME payment compliance

The payments to micro and small business must be cleared, adhering to MSME compliance. With TallyPrime, you can effortlessly identify and track the payables for on-time processing. You can filter the upcoming due days based on the bill date, MSME credit period or the earliest of bill date or MSME credit period.

Audit trail compliant as per MCA’s guidelines

Stay audit trail (edit log) compliant using TallyPrime EL release from day one. You can maintain the necessary edit logs, as required, for each transaction/master, along with the date & time, including the details of users and deleted transactions. The best part is that you can get to know the modified elements by comparing them quickly with a previous version.

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Multi-GSTIN support in a single company

Create multiple GST registrations and manage transactions and returns related to all the GSTINs in a single company. Easy to categorise or identify transactions GSTN-wise and flexible to view/export GST returns and reports for a single GSTIN or a combined report for all GSTINs.

Return sign and amendments

You can mark the returns ‘Signed’ indicating returns are filed, and further inclusions/modifications are identified and tracked for your action. This helps you manage the complete cycle of amendments and reporting of such details in subsequent GSTR-1 and GSTR-3B return.

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GSTR-1 reconciliation

GSTR-1 reconciliation helps you quickly verify the data on the portal with the data in your company books and identify any differences between the data. This is a good practice to keep your books and returns in sync.

GST compliance for composition dealers

Businesses who have opted for composition scheme can manage their compliance easily using TallyPrime. From recording Bill of Supply to generating GSTR-4/CMP-08 in the prescribed format Tally makes it simpler and easier.

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Managing TDS and TCS is no longer tedious

In TallyPrime, you can manage TDS and TCS requirements for your business in an accurate and simplified manner. The return forms are designed to detect errors/incomplete details and allow you to correct them seamlessly, so that the return is 100% fool-proof.

Always stay compliant

No worries of changing laws, you are always up to date and compliant with TallyPrime. Regular product releases ensure that new laws, law changes, returns etc. are supported on-time.

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Other features to manage compliance with ease

  • Easy and quick to configure the tax details via GST Rate Set-up
  • You can export the return data in the multiple formats. For e.g. GST Return data in JSON and MS-Excel
  • Generate consolidated e-Way Bill by selecting the required invoices
  • You can create GSTIN-wise voucher numbering series ( e.g. B2B and B2C) for the same voucher type and maintain unique numbering for each GSTIN
  • e-Commerce report in GSTR-1 to track details of e-commerce operator-wise net sales, helping you to report the values in return
  • Support for previous tax regimes such as VAT, CST, Excise and Services tax

GST returns and statements in TallyPrime

Returns for regular dealer

  • GSTR-3B
  • GSTR-1
  • Annual computation

GST reconciliation reports

  • GSTR-2A reconciliation
  • GSTR-2B reconciliation
  • GSTR-1 reconciliation

Returns for composition dealer

  • GSTR-CMP-08
  • GSTR-4
  • GSTR-9A

GST reports and statements

  • Incomplete/Mismatch summary
  • Input Tax credit summary
  • Advance receipt tax liability
  • Revere charge tax summary
  • HSN/HAC summary
  • Document summary
  • Track GST return activities
  • Challan Reconciliation report
  • e-Invoice status report and registers
  • e-Way bill report and register

Business reports in TallyPrime

With TallyPrime, you get access to a wide range of reports that help you analyse business performance and improve decision-making. What’s more? You can access business reports on your mobile or any device, from anywhere. Experience now with the sample data.

Don’t just take our word for it! Give it a try

Tally’s Prevention, Detection and Correction mechanism ensures that your books are always accurate – from GST returns to reconciliation, hence giving you the confidence that the returns you file are always correct!

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