Upgrade to the latest TallyPrime Release 3.0 for easier GST management. With a more simplified version from setting up GST to creating invoices, handling returns, and reconciling accounts.
It helps you with everything from setting GST details to filing the returns. What’s cool is it checks your filings against official records like GSTR-2A and GSTR-1 to ensure accuracy. Plus, it brings in other useful features to simplify your tasks and let you focus on your business. This means you can ensure accuracy and easily comply with GST regulations. Our online tally course with certificate will help you better.
TallyPrime Release 3.0 makes managing your GST and business needs simpler than ever. Check out these 5 new capabilities it offers.
1. Seamless Integration with GSTN
Now, you don’t have to spend hours manually matching your GST data with GST Network (GSTN). TallyPrime now links directly to GSTN, so your data updates instantly. No more mistakes or wasted time entering data. With TallyPrime, your GST filings will always be precise and on time, freeing up your resources for other tasks.
TallyPrime makes handling GST easier by doing away with manual work. It connects directly to GSTN, so you don’t have to enter data or match things up yourself. This helps make sure your GST filings are accurate and on time.
- It also lets you share data instantly with GSTN. So, any updates or changes happen right away, without delay.
- Using TallyPrime cuts down mistakes since it automates most of the work. This means you’re less likely to have errors that could cause problems with GST rules.
- And because TallyPrime handles a lot of the work for you, it frees up time. You can use that time for other important tasks or planning for the future of your business.
2. Automated GST Returns Filing
No more stress about filling out those GST returns by hand! TallyPrime has made it super easy with automated filing. It does everything for you, from getting the data ready to sending it off. No more mistakes either – TallyPrime is super smart and makes sure everything is correct.
- It covers all the bases, too. Even if it’s your monthly returns or the big annual one, TallyPrime has got you covered. So, you can relax and focus on growing your business instead.
- No more worrying about making mistakes. TallyPrime is super smart and makes sure your GST returns are filed without any errors. That means no more fines or trouble with the taxman. Whether it’s the GSTR-1, GSTR-3B, or the yearly ones.
- With TallyPrime release 3.0 on your side, you can find peace of mind. You don’t need to worry about deadlines and paperwork and concentrate on what really matters—running your business smoothly.
3. Dynamic GST Audit Trail
TallyPrime keeps track of all your GST transactions in a detailed log. This helps you easily see every move your business makes regarding taxes, like when you claim tax credits, sell goods, or adjust taxes. Having this record makes it easier for you to show tax officials if they ever ask.
- When it’s time for a GST audit, having all your transactions neatly recorded makes the process smoother.
- You can easily show the tax authorities everything they need to see, reducing the chances of any problems.
- By using TallyPrime’s dynamic GST audit trail, You can tweak the “Track GST Return Activities” report in different ways. For instance, you can switch it from showing returns to showing periods. Also, you can filter it to see only pending tasks or completed ones.
4. Real-time GST Insights
TallyPrime gives you up-to-the-minute updates on your GST, so you can see exactly what taxes you owe and when. This helps you make smart choices about your finances and plan ahead for taxes. From payments to figuring out how much you’re spending versus earning, ensure you’re following all the rules.
- It helps you to personalized dashboards for your business needs which suits you best.
- By giving you real-time insights into your GST, TallyPrime helps you make smart choices about taxes, saving money, and following the rules.
- TallyPrime makes it easy to keep up with the rules. It reminds you when deadlines are approaching, when there are new rules, and when things change, so you can stay on track.
5. Making Changes and Reporting in Tax Returns
With the new TallyPrime update, handling changes and reporting your tax returns is a breeze. All you have to do is mark your filed returns as ‘signed’ on the GST portal. Once signed, any changes or new entries are highlighted and kept track of for you to review and take action on. That means, if there’s a mistake in your invoices or transaction amounts after you’ve filed, you can’t directly fix it in the filed returns.
But, the GST portal does let you make corrections in the next returns you file. So, any changes or fixes you need to make can be reported in the following returns as amendments.
- After filing your April 2023 invoice, if you spot a tax error:
– Mark the return as completed in TallyPrime.
– Any future changes for that month will be tracked automatically.
- Correct the tax amount in the April transaction. TallyPrime will note these changes and flag them in the ‘Uncertain Transactions’ section of GSTR-1.
- Specify the date of correction (e.g., May 25th), and the adjustments will be included in the May GSTR-1’s ‘Amendments’ section and reflected in the May 2023 GSTR-3B.
In Simple Terms
TallyPrime’s latest updates are changing how businesses deal with GST rules in India. It connects smoothly with GSTN and handles things like filing returns automatically, and keeping track of changes, and providing instant updates on what’s happening.
TallyPrime gives a complete package to make dealing with GST Compliance easier for your Business needs. With the help of Super 20 Training Institute by your side, you can cut down on mistakes, follow the rules better, and concentrate on growing in a tough market.