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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

How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

In the Bill to – Ship to model, the billing and shipping of goods are done to two states and entities. In order to avoid the cascading of multiple taxes through the course of the transaction, the first sale will be taxable, and any subsequent sale during the movement of goods is exempt from tax. Today, Bill to – Ship to transactions are a common occurrence. Let us understand ‘Bill to – Ship to’ transactions with an example. Ganesh Traders, a dealer in hardware goods, located in Maharashtra receives an order from Maruthi Traders, located in Karnataka. The order is for the supply of 100 aluminium ladders, with an instruction to ship the ladders to Prime Hardwares, located in Tamil Nadu. […]

By |2023-03-16T05:29:22+00:00March 13th, 2017|bill to ship to, goods and services tax, GST, gst calculation, gst place of supply, gst supply, gst supply conditions, supply of goods, supply of service|Comments Off on How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

How is the Value of Goods & Services determined under GST?

The value of all the goods and services consumed in an economy is arrived at based on certain metrics. In the current tax regime in India, this value is calculated in different ways. An overview is provided in the table below: Tax Value of goods/services Excise Based on transaction value or quantity of goods or MRP VAT Based on sale value Service Tax Based on taxable value of service rendered   Valuation of goods and services Current tax regime Let us look at how the value of goods and services is calculated in the current regime, with the help of an example: Super Cars Ltd, a car manufacturer, sells spare parts to Ravindra Automobiles, their dealers for Rs 6,000. The […]

By |2022-05-04T10:25:56+00:00December 6th, 2016|GST, gst calculation, Tax, valuation, value of goods gst, value of service gst|Comments Off on How is the Value of Goods & Services determined under GST?

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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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