As the country approaches the first anniversary of GST in a month’s time, ‘National Conclave on GST’ was organised by ICAI (The Institute of Chartered Accountants of India). The event acted as an ideal platform to reflect on the experiences of the past 1 year and what to expect in the next few months. Tally Solutions participated in the conclave held in New Delhi.
Rakesh Agarwal, Product Management Head at Tally Solutions represented the company at the ‘National Conclave on GST’. He addressed the gathering on the importance of technology to ensure effective compliance and increase the adoption numbers by the small tax player.
He also said, “After a lot of speculation, the government has made a decision on the simplified return filing process. Our experience from the past 1 year shows that earlier the awareness and education on a return filing model begins, the better it is for the whole economy to move to new process with minimum disruptions. A key component of the new process is that the buyer is eligible for ITC on the basis of the invoices uploaded by the seller. In such a model, it becomes extremely critical for businesses to adopt a technologically robust and reliable software.”
Another key area discussed in the conclave was the mandatory implementation of e-way bill in the country, from 3rd June onwards. To ensure businesses can transition easily to the new law, Tally’s most recent release, Tally.ERP 9 Release 6.4 makes it very simple to generate and manage e-way bills. The solution is flexible and accommodates various exceptional circumstances that different businesses might find themselves in while complying with the new reform.
To emphasise on the importance of CAs and GSTPs in the new tax era, Tally has launched initiatives like the GST Pro Programme and have taken measures to build the CA community. The GST Pro Programme targets the growing GSTP community, with an aim to build a powerful network of GST Consultants and extend the benefits of this network to businesses across the country.Currently, there are approximately 5000 GSTPs part of this programme. The CA community has a dedicated website with approximately 6000 registered CAs. As part of this community, CAs can participate in discussions around GST and be updated on latest developments. They have access to exclusive articles and videos of eminent CA and industry leaders.
The 2-day conclave addressed concepts related to Place of Supply, Input Tax Credit, Compliance under GSTN and E-way Bill.
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