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Comparison Between Tally.ERP 9 and TallyPrime

As one of the best business management software, Tally is used by business owners, Accountants and other Tally users for more than three decades. During these years, Tally ensured to deliver top-performance by releasing various Tally versions which offered major improvements and enhancements. Thus, with the new release - TallyPrime - Tally aims to transform various business operations, providing you with greater flexibility and efficiency. Note: Tally has also launched TallyPrime Release 1.1 A. What is TallyPrime? The all-new TallyPrime is a better and smarter version of Tally.ERP 9. While it retains the simplicity of the Tally.ERP 9 software, it offers much more enhanced features that help you to improve different operations leading to seamless workflow and greater productivity. As [...]

By |2024-02-15T06:01:49+00:00January 15th, 2021|Business, Finances, goods and services tax, GST, Tax|Comments Off on Comparison Between Tally.ERP 9 and TallyPrime

What is the Difference Between DSC, E-sign and EVC in a GST Portal?

As a value-added tax, GST is levied on most goods and services that are sold for domestic consumption in India. GST (goods and services tax) is a comprehensive, multi-stage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes (Excise duty, VAT, Service tax) except for a few state taxes. In simple words, GST is an indirect tax on the supply of goods and services used in India. Understanding the process of payment through the GST portal is important, as it is a necessary payment to help the government keep track of the supply & demand as well as provide the best quality goods and services to consumers. There are a few ways to find user authentication in […]

By |2023-03-16T06:22:50+00:00November 20th, 2020|GST, Business, Finances, goods and services tax, Softwares, Tax, Technology|Comments Off on What is the Difference Between DSC, E-sign and EVC in a GST Portal?

Income Tax Relief Measures in India Amid COVID-19

During the COVID-19 pandemic, the central and many state governments are in the thick of the action to provide tax relief to taxpayers. This article offers an overview of the recent Direct and Indirect Key income tax relief provided by the government. Take a look! A. Direct Tax Return Filing OF Income The due date for filing late and revised returns of income for the assessment year 2019-20 was extended from 31 March to 30 June 2020. Additionally, the due date of all income-tax return for FY 2019-20 is extended from 31 July 2020 and 31 October 2020 to 30 November 2020 and tax audit from 30 September 2020 to 31 October 2020. The timeline for linking Aadhaar with PAN [...]

By |2022-09-28T07:41:32+00:00September 7th, 2020|Business, Finances, goods and services tax, GST, Tax|Comments Off on Income Tax Relief Measures in India Amid COVID-19

Democratising Access to Tally Enhancements

If you use Tally, you have at some point of time or the other gotten custom development done to meet your business’ very specific requirements. You’ve also probably experienced a disparate, disorganised ecosystem of partners providing you varying levels of service and varying levels of quality when it comes to delivering these custom modules or add-ons to you. We at Mark IT recognise this pain point and have been working hard to provide a solution that is standardised, transparent and cost-effective for all of our customers. Our solution, which we’ve come up with after months of customer feedback and internal brainstorming is called PowerPacks. A PowerPack is an affordable, transparent & powerful subscription-based module built on top of the Tally [...]

By |2023-02-17T06:18:37+00:00July 6th, 2019|Accounting Software, Business, goods and services tax, GST|Comments Off on Democratising Access to Tally Enhancements

How to File Form GST TRAN-1: Part 2

In our earlier blog How to File Form GST TRAN-1: Part I, we discussed about filing GST TRAN-1 with details of CENVAT and input VAT credit carried forward.  In this blog, we will discuss about how to file Form GST TRAN-1 for claiming transitional ITC on Capital goods. In the earlier regime of indirect tax, there were various conditions and restrictions for availing ITC on capital goods. For example, under Central Excise, a manufacturer can avail ITC up to 50 % in the current year and remaining in the subsequent year. Similarly, under VAT, each state had different provisions for claiming input vat on capital goods. As a result, on the date of transitioning to GST, businesses who have unavailed input tax […]

By |2023-02-17T06:08:51+00:00August 25th, 2017|claim transition credit, form gst tran1, goods and services tax, GST, gst input tax credit, gst transition, Tax, tran1|Comments Off on How to File Form GST TRAN-1: Part 2

What is Form GST TRAN-1 and when to File it

  Last updated on August 25th, 2017 at 12:36 pm Businesses having carry-over Cenvat credit and Input VAT credit are allowed to carry forward the eligible Cenvat/Input Credit (ITC) from earlier regime to GST. The Cenvat credit including Service Tax will be carried forward as CGST Input Tax credit and VAT including entry tax will be available as SGST Input tax credit. And, also in certain businesses circumstances, input tax credit on closing stock held on 30th June, 2017, will be allowed to carry forward to GST regime. However, to be eligible to carry forward the credit, businesses are required to meet certain conditions. To know more about different business scenarios and conditions, read our blog Moving to GST: For […]

By |2023-03-23T07:57:27+00:00August 24th, 2017|goods and services tax, GST, gst input tax credit, gst itc, GST Return Filing, gst transition, gst transition in india, Tax, tran-1, tran1|Comments Off on What is Form GST TRAN-1 and when to File it

Your Checklist for Claiming Input Tax Credit (Downloadable)

Input tax credit is a critical component of compliance under GST. While input tax credit is available on all inputs used in the course of business or for furtherance of business, certain conditions have been laid down for claiming the input credit. Also, input tax credit is not allowed on certain inputs. This checklist is a useful ready reckoner for you to claim input tax credit correctly. Read: Your Checklist for Availing GST Input Tax Credit Conditions for claiming input tax credit Negative list (Goods or services on which input tax credit cannot be claimed) ✔ The inputs should be used or intended to be used in the course of business or for furtherance of the business ✔ Motor vehicles […]

By |2023-02-17T06:05:18+00:00August 4th, 2017|goods and services tax, GST, gst input tax credit, gst itc, input credit, input tax credit, Tax|Comments Off on Your Checklist for Claiming Input Tax Credit (Downloadable)

Reversal of GST Input Tax Credit (ITC)

GST, a comprehensive indirect tax system introduced on 1st July, 2017, is a transaction-based, technology-driven tax system. Under GST, compliance becomes a key factor for the success and credibility of businesses. GST compliance works on the concept of Self-Monitoring mechanism, under which the input tax credit will be dependent on your supplier’s compliance. This means, your supplier should file the returns, declaring the outward supplies along with the tax payment, and matching of invoice between supplier and recipient of goods and services. This is a major transformation from the earlier compliance process, in which the value of input credit availed by you is not dependent on your suppliers’ compliance. In our earlier blogs ‘GST Input Tax Credit Explained [Video] and […]

By |2022-06-09T10:27:16+00:00July 22nd, 2017|claim itc in gst, goods and services tax, GST, gst india, gst input tax credit, gst itc, ITC, itc reversal|Comments Off on Reversal of GST Input Tax Credit (ITC)

Want to Register under Composition Scheme in GST? Check your Eligibility

Businesses have to balance between managing their business and strive towards profitable venture. At the same time, caution and care is required towards compliance to various laws of the land. Over the past decade, with compliance in our country, though have taken the technology route, the amount of information to be furnished has increased. This naturally calls for dedicated time on the compliance front as they have a periodic deadline. India is predominantly an SME oriented business environment. This transpires to limitation of resources of 3M: men, money and materials, and an elaborate compliance will be a costly affair for small segment of businesses. The process of maintaining numerous records, monthly payments, filing of monthly return, and so on, is […]

By |2022-04-13T06:56:14+00:00July 20th, 2017|composite supply, composition dealer, composition levy, composition scheme gst, Form GST CMP-1, Form GST CMP-2, goods and services tax, GST, gst composition registration, gst composition rules, gst composition scheme|Comments Off on Want to Register under Composition Scheme in GST? Check your Eligibility

How to Determine the Place of Supply of Telecommunication and Financial Services

Last updated on July 17th, 2017 at 10:01 am Under GST, specific rules have been laid down for determining the place of supply of telecommunication services and financial services. Knowing how to determine the place of supply is very important to ensure that the correct tax is charged on a supply.  Let us understand how to determine the place of supply of telecommunication services and financial services. Place of supply of telecommunication services Telecommunication services include the services of telephone, internet, data transfer, broadcasting, cable, DTH (Direct to home) services, etc. For determining place of supply, telecommunication services are divided into 3 categories: Services provided using a fixed telecommunication line, leased circuit, internet leased circuit, cable or dish antenna Postpaid mobile […]

By |2023-02-17T06:28:22+00:00July 15th, 2017|goods and services tax, GST, gst for banking, gst for telecom, gst on insurance, gst place of supply, place of supply, place of supply of services, place of supply under GST, Tax|Comments Off on How to Determine the Place of Supply of Telecommunication and Financial Services

How to Define GST Rates and HSN/SAC Codes in Tally.ERP 9

With the introduction of the GST Act, if your business needs HSN/SAC codes and tax rates, you can set these details easily using our GST-ready software, Tally.ERP 9 Release 6. With this, you have the flexibility to configure GST rates and HSN/SAC codes at any level based on your business and reporting needs. As per the GST Act, based on your yearly turnover and type of business, you need to print HSN/SAC code on invoices and reporting as per the table below: Business Type No. of Digits of HSN Codes Less Than 1.5 Cr Not Required Between 1.5 Cr to 5 Cr First 2 digits Above 5 Cr First 4 digits For Import-Export 8 digits For Services 5 digits Let […]

By |2023-08-07T10:55:59+00:00July 11th, 2017|define gst rate, goods and services tax, GST, gst compliance, gst rate, GST Tax Rates, hsn code, hsn/sac code, tax rate|Comments Off on How to Define GST Rates and HSN/SAC Codes in Tally.ERP 9

5 Things for Businesses to Know as you Welcome GST

GST is here. While the entire country gears up to welcome the biggest economic and tax reform since Independence, here is a checklist for you – so that you easily transition into GST. Here’s looking at 5 main things you need to know in order to have a seamless and effective transition to GST 1. Transition of registration Any dealer who is registered under State VAT, Central Excise, Service tax etc. in the current regime, and holds a valid PAN – shall be given a provisional certificate of registration in GST in Form GST REG-25. Post the issuance of the provisional registration certificate, the dealer will have a time of 90 days in which the prescribed documents will need to […]

By |2023-02-04T08:12:37+00:00June 28th, 2017|goods and services tax, GST, gst checklist, gst compliance, gst impact, tally gst, Tax|Comments Off on 5 Things for Businesses to Know as you Welcome GST

GST Migration – Goods Sent for Job Work

For manufacturers, an important concern is the tax treatment of goods sent for job work in the current tax regime which are being held by the job worker as on 1st July, 2017 – the date of transition to GST. Two questions that such principal manufacturers will have are- Will tax be applicable when the goods sent for job work in the current regime are brought back or supplied in the GST regime? What is the documentation required for goods lying with a job worker on 1st July, 2017? Let us answer these questions. 1. Tax applicability on goods sent for job work in the current regime and brought back or supplied in the GST regime A. Goods brought back […]

By |2023-03-23T09:45:49+00:00June 26th, 2017|goods and services tax, GST, gst india, gst migration, gst transition, job work, job work gst, migrating to gst, supply of goods, Tax|Comments Off on GST Migration – Goods Sent for Job Work

Branch Transfers – How to Calculate the Taxable Value

Branch transfer refers to the transfer of materials from one unit/location to another unit/location belonging to the same business entity. It is also known as Stock Transfers. Branch transfers are done for various reasons, such as: Transfer of semi-finished goods from the manufacturing unit to another unit for further processing Transfer of goods to godowns/warehouse for further supply Trader may transfer goods to another branch due to demand From the perspective of compliance- to enable the customers (B2B) to avail input tax credit, branch transfers are done and then the sale is affected. Whatever may be the reason for transfer of goods, it is vital for businesses to understand the tax implications on such transfers. How are these transfers treated […]

By |2023-02-17T06:11:07+00:00June 24th, 2017|branch transfer, goods and services tax, GST, gst calculation, gst calculator, stock transfer, Tax|Comments Off on Branch Transfers – How to Calculate the Taxable Value

GST Migration – Demystifying the Closing Stock Dilemma

With only a few days to go for GST to be rolled out, one of the key points of interest for most businesses are the transition rules and provisions, especially pertaining to the closing stock being held on the transition date. This is super-critical for businesses, as the rules will determine the amount of input tax credit available on the closing stock, and based on that, businesses will need to re-organise themselves in the last few days of the current taxation regime to manage their inventorhim as closing stock wheny effectively. The main concern A crucial case in point is the input tax credit on the closing stock for those dealers who have not registered under the current law but […]

By |2022-11-29T12:11:20+00:00June 22nd, 2017|closing stock, goods and services tax, GST, gst closing stock, gst migration, input credit, migrating to gst, Tax|Comments Off on GST Migration – Demystifying the Closing Stock Dilemma

All you Need to Know about Job Work under GST

The manufacturing sector is the second largest contributor to our GDP. Many new initiatives taken by the Government in the form of Make-in-India, Invest India, Start Up India, and e-biz Mission Mode Project under the national e-governance plan are facilitating investment and ease of doing business in the country. Indian manufacturing companies in several sectors are targeting global markets and are becoming formidable global competitors. Job work is an integral aspect of the manufacturing industry. Manufacturers usually outsource a portion of their activities to a third person. This turns out be cost-efficient and helps them to be more productive by focusing on their core activities. This process of outsourcing the whole or a part of an activity to a third […]

By |2021-05-20T07:23:20+00:00June 20th, 2017|goods and services tax, GST, gst input tax credit, job work, job work gst, manufacturing, Tax|Comments Off on All you Need to Know about Job Work under GST

Impact of GST on Manufacturers – Part 2

In our last blog on this topic, we discussed about some of the positive impacts of GST on the manufacturers across our country. While the core benefits do stand out in terms of ease of doing business, and decreased costs on several fronts, there are certain aspects of GST which may not be conducive to the manufacturing sector. Let’s have a look. Negative Impact Reduced working capital Under the current taxation regime, stock transfers are not subject to tax, provided Form F is furnished. Input VAT credit is available in excess of 4% of tax paid on purchase, and the 4% thus reversed, finds its way into product cost. However, under the GST regime, stock transfers are deemed to be ‘supply’ […]

By |2022-06-08T05:46:41+00:00June 8th, 2017|goods and services tax, GST, gst impact, gst manufacturing, GST Registration, gst supply|Comments Off on Impact of GST on Manufacturers – Part 2

Impact of GST on Manufacturers – Part I

The “Make in India” campaign has provided a huge boost to India’s position on the world map as a manufacturing hub. According to Deloitte, India is expected to become the 5th largest manufacturing country in the world by the end of 2020. But more importantly for us, it promises to do wonders for the manufacturing sector – which has seen a stagnant phase in the last 2 decades and currently contributes to 16% of our GDP, as per IBEF. And that, surely means good news for our manufacturers. But is only a campaign going to turn things overnight? Probably not. While the government has a full arsenal of ideas, innovations, and strategies on how to make “Make in India” happen […]

By |2023-03-23T09:54:46+00:00June 6th, 2017|goods and services tax, GST, gst impact, gst manufacturing, GST Registration|Comments Off on Impact of GST on Manufacturers – Part I

How will GST Transform the Indian Wholesale Market?

India is a land of growing consumerism. With about 14 million retail points serving the end customer, in both urban and rural markets, it is a mammoth task for manufacturers – especially those of FMCG and consumer durables – to address the demand. What makes this even more challenging is the fact that as on today, 92% of the retail sector is unorganized – making it practically impossible for a manufacturer to cater to the last mile, solely on the strength of direct distribution channels. The inevitable saviour? The Indian wholesale market. A preamble Before we delve further on the impact of GST on the wholesale market, it is probably useful to understand the position of a wholesaler in the […]

By |2022-11-29T11:18:09+00:00June 5th, 2017|goods and services tax, GST, gst impact, gst input tax credit, gst wholesale market|Comments Off on How will GST Transform the Indian Wholesale Market?

Tally’s GST-Ready Product Release Plan

With just a few weeks left for the roll out of GST, one of the burning questions on your mind as a Tally user is probably, How will Tally support my business to become GST compliant? With this blog post, you will understand Tally & GST product strategy, and how you can smoothly transition into GST with Tally.ERP 9 (now TallyPrime) Release 6.0. State of readiness of GSTN As you know, the GST Council has approved the law, and the rules are now being finalised. Finalisation of GSTN APIs and readiness of GSTN are closely tied to the finalisation of GST rules. Until the GSTN foundation is available with the required stability, it is impossible to create a robust and […]

By |2023-02-17T06:21:24+00:00June 2nd, 2017|goods and services tax, GST, gst compliance, gst india, gst software, gst software india, gst transition, tally erp 9 gst, tally for gst, tally gst, Tally.ERP 9 gst transition|Comments Off on Tally’s GST-Ready Product Release Plan

Have more questions? Check out our FAQs below.

PowerPacks FAQ

A PowerPack is a powerful widget built on top of the Tally platform. It adds value to your business by simplifying key, daily activities that may currently be done manually. A good example is Digital Signature – replace the need for physically signing (or even printing out!) By automatically inserting a digital signature on your entire Tally generated invoices. Saves you a ton of time, saves printing costs and also saves the environment since you print less!
Good Question! Our team is continually improving these PowerPacks. By adopting a subscription model, it allows our team to invest time to continually improve them. In addition, when the Tally platform is upgraded, your PowerPack will always work. Current offerings in the market sell you a ‘perpetual’ file and then charge you exorbitant upgrade fees when a new version comes out. We eliminate all of that and charge you a low fee. Think of it as sacrificing a couple of cups of coffees per year! Surely you can sacrifice 2 cups of coffee for improved productivity at work, right?
No problem! We understand that our customers’ needs evolve over time, and you may not need a certain PowerPack after a certain period of time. If you cancel within 7 days of purchasing the PowerPack, we will refund your money within 3 business days – no questions asked! If you’ve purchased an annual license, you can simply cancel your subscription and your license copy will lapse after your subscription period ends. No surprise charges. EVER!
Come on! You must be joking. Ok, you’re not. Well, the answer, surprisingly, is YES! If you purchase a PowerPack for the whole year, you can get it for only INR 999/year! That is a 15% discount or almost 2 months free 🙂 Happy now?

We’ve designed our PowerPacks to be self-serve and easy to install and use. We also provide you with a user manual and feature list with screenshots to get you started. But if you still have questions, drop us an email at [email protected] and we’ll help you out! If you need more hands-on support, just give us a call or drop an email.

Absolutely! We will continue to build the PowerPacks that serve our customers at an affordable price. We notify our customers when a new PowerPack is available. Meanwhile, if you need something very unique to your business, we have a top-notch development team that is eager to solve complex problems for businesses like yours. Fill out this form, we’ll get in touch with you!
Good question again! Other vendors may offer you a PowerPack (add-on/module) for a flat one-time fee. But what they don’t tell you is that anytime there is a release upgrade or newer version of Tally, the PowerPack will stop working. To get it to work again, you will need to pay the vendor more money. This cycle is never-ending! In addition, other vendors may not update their PowerPacks with additional features. If they do, they may charge you extra for the same. With Mark IT, your PowerPack will always work even if there is a release update. The subscription model also allows us to continually enhance our PowerPacks and pass on the benefits to our customers at no extra cost. Plus, you save a ton of money upfront which you can use for other business improvements!
You can choose between a number of payment types – NEFT, credit or debit card, UPI, EMI or any wallet (like PayTM, PhonePe etc.) Providing flexibility to our customers is important to us, so we ensure to continually add the latest payment methods.
We’re glad you want to! Simply add multiple PowerPacks to your cart and buy! In addition, if you wish to purchase additional PowerPacks for additional serial numbers, simply change the quantity to the appropriate number of serial numbers and you are set. Feel free to add any comments in the Notes section if there is something you need to tell us regarding your order. Trust us, we read every customer’s emails!
A PowerPack is compiled and attached to a single serial number. If you’d like to set up the PowerPack for multiple serial numbers, simply purchase additional PowerPacks for each of your serial numbers. Simple!

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