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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 243


Indian Taxation
 Service Tax

♦ Uniform abatement rate of 70% for transport of goods by rail, road and vessel with effect from 1 April, 2015, is supported.

♦ Increase in service tax rate from 12.36% (inclusive of cesses) to 14% (subsuming the cesses) with effect from 1 June, 2015, is supported.

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








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