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How GST will Reduce Tax Evasion

GST (Goods and services tax) – India – Tally Solutions How GST will Reduce Tax Evasion It has been 4 months since GST has been introduced in India. Since its introduction on the 1st of July 2017, GST has subsumed various taxes like Service Tax, VAT, and Excise… The post How GST will Reduce Tax Evasion appeared first on GST (Goods and services tax) – India – Tally Solutions.

By |2019-11-27T10:50:29+00:00November 15th, 2017|GST, gst impact, GST regime, Guest Posts, How GST wil reduce tax evasion, Impact of GST, Tax evasion|Comments Off on How GST will Reduce Tax Evasion

Impact of GST on Traders

GST (Goods and services tax) – India – Tally SolutionsImpact of GST on Traders On October 14th, 2016 the Confederation of All India Traders (CAIT) signed an MOU with Tally Solutions in order to train their member businesses – roughly 6 lakh traders all over the country, on the subject of GST. While the focus is largely to enable the trading community to appreciate and accept the importance of […] The post Impact of GST on Traders appeared first on GST (Goods and services tax) – India – Tally Solutions.

By |2019-06-07T08:54:34+00:00June 29th, 2017|composition levy, goods and services tax, GST, gst for traders, gst impact, gst impact traders, gst itc, gst traders, Tax, trading gst, VAT|Comments Off on Impact of GST on Traders

5 Things for Businesses to Know as you Welcome GST

  Last updated on June 29th, 2017 at 07:04 pm 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 […]

By |2019-11-21T13:12:34+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

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 |2019-11-29T10:57:26+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 |2019-11-29T11:06:59+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 |2019-11-29T10:55:37+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?

Impact of GST on Suppliers on e-commerce Platforms

India’s e-commerce sector is expected to cross revenue of Rs.12,000 crores in 2020, according to a joint Assocham-Forrester study. It is also expected that the sector will grow at an annual rate of 51%, the highest in the world. The Indian Government’s recent move of currency demonetisation and the vigorous push for digitisation in every aspect of life has only propelled the e-commerce industry’s growth. For a supplier on an e-commerce platform, it is certainly an exciting time to do business, given the accessibility to geographically distant customers, low operational costs, and the scalability that e-commerce provides. At the same time, taxation on e-commerce transactions in the current regime is ambiguous and different states have different levies of tax. The […]

By |2019-11-30T04:42:19+00:00June 1st, 2017|e-commerce platforms, e-commerce supplier, ecommrce, GST, gst e-commerce, gst impact, gst india, gst supply, Tax|Comments Off on Impact of GST on Suppliers on e-commerce Platforms

Life of Chartered Accountants under GST

If one looks at GST, it does seems like a boon for consumers – with the promise of lower prices; for businesses – with the promise of a simplified indirect tax regime; and for the Indian Government – with the promise of higher tax revenues. However, there is another stakeholder in the business ecosystem who stands to benefit immensely from the introduction and gradual roll out of GST – the Chartered Accountant. Here, I am going to list out the key benefits brought about by GST – that will surely make the life of a CA much easier and simpler, in the coming few months and in the future as well. Increase in clientele GST is a whole new taxation […]

By |2019-11-30T06:28:44+00:00May 31st, 2017|Chartered Accountant, GST, gst compliance, gst impact, Tax|Comments Off on Life of Chartered Accountants under GST

Have customers across states? – Here’s how GST will affect you

The ultimate dream of every business is growth and expansion. One starts a business, earns profit, re-invests, earns more profit – and the cycle continues. You get your first customer, then 10, then 100. You start off in your immediate locality, and as you grow, you expand your operations to your city, your state, neighbouring states – till the entire country is your playground. However, in the current taxation regime, this is easier said than done. Apart from the obvious finances and efforts that businesses with customers in multiple states invest, there are also a fair amount of compliance costs and complications which are incurred – both by seller and buyer. Selling Goods to Customers in Other States Current Regime […]

By |2019-11-27T10:24:13+00:00May 24th, 2017|goods and services tax, GST, gst impact, selling goods across states, supply of goods|Comments Off on Have customers across states? – Here’s how GST will affect you

Impact of GST on Working Capital for SMEs

Working capital is the lifeline of a business to carry out day-to-day operations. Managing working capital efficiently is a problem that plagues both small and large businesses. Inability to manage working capital may have adverse effects, including premature closure of businesses. GST, a comprehensive indirect tax system, is a few months away from rollout. Businesses need to understand the implications of GST on various day to day operations. Therefore, let us take a look at the ways in which GST impacts the working capital for SMEs and understand how you can use GST to your advantage. Introduction of “Furtherance of Business” as a concept for Input Tax Credit Under the current regime, input tax credit is available only on inputs […]

By |2019-11-30T04:45:31+00:00April 10th, 2017|goods and services tax, GST, gst impact, gst input tax credit, gst itc, sme, working capital|Comments Off on Impact of GST on Working Capital for SMEs

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 our PowerPacks. In addition, when the Tally platform is upgraded, your PowerPack will always work. Current offerings in the market sell you a ‘perpetual’ file but 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 be sure to help you out! If you need more hands-on support, just give us a call or drop an email and we’ll get you setup.

Absolutely! We will continue to build out PowerPacks that serve our customers at an absolutely affordable price. We’ll drop all our customers a note 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 and we’ll be in touch!

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, your business saves a ton of money upfront which you deploy for other improvements your business may need!

You can choose between a number of payment types – NEFT, credit or debit card, UPI, EMI or any wallet (like PayTM, PhonePe etc.) that you wish to use. Providing flexibility to our customers is important to us! We will continually add more payment methods as soon as we can.

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 setup the PowerPack for multiple serial numbers, simply purchase additional PowerPacks for each of your serial numbers. Simple!

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