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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 245

Indian Taxation
 Value Added Tax


♦ Increase in VAT rate of petrol from 20% to 25% and diesel from 12.5% to 16.6% is supported.


♦ Increase in VAT rate of diesel from 11.5% to 16.4% is supported.


♦ Increase in VAT rate of diesel from 11.25% to 13.4% is supported.


♦ Revised VAT rate of 16.4% on diesel is supported.

Jammu & Kashmir

♦ Increase in VAT rate of diesel from 12% to 16% and motor spirit from 20% to 24% is supported.

 Requirement: Valid Tally.NET Subscription and Tally.ERP 9 Series A Release 4.9 or above.