As per the Tally Solution’s official blog, they will be releasing two new GST Ready versions of Tally.ERP 9.
They will be:
- Tally.ERP 6.0
- Tally.ERP 7.0
Both of the versions will be fully GST compliant and will help you to file your GST returns easily along with taking care that you do not miss the deadline and upload the right data.
They have released their product release plan which simply means at what times and in what circumstances they will be going to release the new GST Ready versions of Tally.ERP 9.
I read the blog post and one thing is clear from it. Everything is dependent upon GSTN.
GSTN means Goods and Services Tax Network. It is developed in partnership with Central Government, State Governments and various other private entities.
It is a single window for filing documents and returns online under the GST law.
Therefore, GST returns, registration, documents and any other filing which is required under the GST law will be done via GSTN.
Coming back to Tally.ERP 9’s new releases, they will be done as and when the government comes out with a stable plan and the dates of the implementation of the GST law.
Here is what they have mentioned on their blog and my opinion on it.
Tally.ERP 9 Version 6.0 – Getting Started
This is one of the major updates of Tally since this will the first updated version with all the GST capabilities in it.
This is going to be huge and I strongly suggest, please don’t panic or worry if something you are looking for is not in Tally or you are unable to find it.
As soon as this version will be released, I will go through it in detail and study it. I will then solve all your questions and confusions.
This version is going to have the following updates relating to GST in Tally.
You will be able to create transactions which will be fully compliant with GST. Therefore, you don’t need to worry whether all the transactions are GST ready or not.
As the transactions you enter will be GST ready, you will also be able to print GST ready invoices. This is a great relief.
At the time of taking credit or filing return, the person who has purchased from you will ask for the details to file his GST return because everything should be matched.
You will be able to maintain books and accounts. This is assumed as this is the reason you are using Tally in the first place. 🙂
Passing entries and maintaining books and accounts in Tally is easy and fast.
Last but not the least, you can submit your data to the GSTN (Goods and Services Tax Network) with the help of Tally in an easy way.
How to Submit Data from Tally.ERP 9 to GSTN
Here is how you can do it.
- Firstly, enter all the transactions on which GST is applicable.
- Then you can view all the details in Tally.
- You can check the correctness of the data with the help of a new feature in Tally called Triangulation. By using this feature, you will be sure that correct information is uploaded on the GSTN.
- Export the file in Excel format which will be in a format of the new GST Offline Utility tool.
- Import the Excel file in the Offline GST Utility tool and export the file in JSON format which will be uploaded on the GSTN for final filing of the return.
- Now, the only errors will be of not matching of the transactions with the purchaser or the seller.
I think this is relatively very efficient manner for utmost compliance with the GST currently.
You will have a very few errors and the process of complying with the new GST law will be very much easy for you.
This was the Version 6.0 of Tally.ERP 9 which is said to be released by Tally Solutions on 26th June, 2017 which is 1 day from the writing of this post.
As soon as the version will come out, I will create an entire series of videos and posts in which I will explain everything in detail about the GST and how you can implement it via Tally.ERP 9.
In short, this will be one of the GST Ready versions of Tally but it can contain some errors or bugs as it is the first one.
Now, let us talk about the next version of Tally which is Tally.ERP 9 Version 7.0.
Tally.ERP 9 Version 7.0 – Perfected One
This is nothing but a more refined version of Tally in terms of GST which will be released much later when most of the things in the new GST law will be clear and people will be following it.
Version 7.0 will be available after taking into account your hardships and any feedback you will give to the Tally Solutions.
They will hear from you and will try to solve all your questions and make effective changes as per your requirements.
So, once again, please don’t panic or worry if you find anything strange or unrelated or wrong in Tally about GST.
In short, this will be one of the GST Ready versions of Tally which will be much more matured version of Tally.ERP 9 and will work with GST seamlessly.
What is my Opinion on the New Versions of Tally.ERP 9
I have worked with Tally since Tally 7. Then came Tally 7.2 and then Tally.ERP 9.
After the introduction of Tally.ERP 9, came all the releases of it and now comes the two most important versions of Tally.ERP 9 i.e. versions 6.0 and 7.0.
So, I am using Tally for quite a long time.
One thing I can say is that it has never disappointed me except for one thing.
Import and Export of data and information. It is quite difficult at the beginning to export the data for a newbie and importing is an advanced stuff.
You can only import XML file which is exported from the Tally itself.
That makes it very difficult for people input data if anyone is migrating from another software.
That in turn makes usage of Tally limited. And, that in turn makes sales of Tally limited.
But I am still thinking why Tally Solutions have not taken a step in this direction.
If you are a person reading who works at Tally Solutions, please do something about it.
But, apart from import and export, everything works just awesome in Tally.
From the good history which I am having with the use of Tally, I am quite sure, the new versions will be amazing and easy to use as well.
From the specifications and features mentioned on their official blog, I am of the opinion that the new GST Ready versions of Tally will be easy to use and you should not expect any kind of problems from passing entries to filing the GST returns.
The features of the GST are fully embedded in the Tally.ERP 9 Version 6.0.
If you know a little bit about creating taxation rates in the previous versions of Tally, you should have no problems creating the taxation rates in the new version of Tally for GST.
The best thing is that, Tally Solutions (the company behind Tally) has made the process of entering GST information and working of it in Tally almost same as previous taxation regime.
In fact, the process of taxation is same as I have said in the earlier post where I discussed about using GST implementation before GST was introduced in Tally. (Yes it can be possible, have a look at it.)
Soon, one of the first GST Ready versions of Tally will be released for everybody on 26th June, just after 1 day (currently the preview version in released, so you can have a look at it.) and I will start explaining it in a very simple manner as I have explained everything on this blog in a simple manner.
Till then, stay tuned to TallySchool.
P.S. – Have a look at how you can Upgrade Tally.ERP 9 to new GST Ready Version.
Please comment below if you need any clarifications regarding the use of GST in Tally. I will be more than happy to help you.