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Statutory Updates

     

 Statutory Updates for Taxation Modules,
                                             Returns and Annexures


In view of the latest statutory requirements and the increasing compliance by businesses falling under the purview of Value Added Tax, various enhancements are being introduced in Tally.ERP 9. These business specific enhancements pertaining to changes in VAT Rates, Forms and Annexures etc. are provided for each State to ensure smooth functioning of day-to-day operations and timely filing of VAT Returns in the physical as well as the electronic modes as per the requirements of the Department.



Updates pertaining to Stat Release 239


VALUE ADDED TAX

Jharkhand

♦ Revised VAT rate of 22% on high speed diesel, light diesel oil and petrol is supported

Punjab
♦ VAT rates of 3.5% and 8.5% on capital goods are supported

Rajasthan
♦ Revised VAT rates of 8% and 14.5% are supported
♦ Increase in Composition Tax rate from 0.25% to 0.75% is supported








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