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gst transition

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TRAN 2 GST Form : Overview and Revised Timelines

About a year back, when India was getting ready to step into the GST era, the subject of input tax credit carried forward from the previous tax regime, was a major cause of concern for most businesses. Understandably, a sizeable amount of tax would have been paid while purchasing inputs, raw materials, semi-finished goods, finished goods or on procuring materials which were sent to the job worker. Also, it was a practical scenario that businesses would be holding some amount of opening stock on 1st July, 2017, and whether the tax credit on such stock will be available or not, was something businesses needed clarity on. In response to this, the government laid down the transition rules and formats, which […]

By |2023-05-05T11:43:57+00:00March 14th, 2018|file GST TRAN-2, File TRAN-2, Filing GST TRAN 2, Form Tran 2, GST Form TRAN 2, GST TRAN 2, GST TRAN 2 due date, GST TRAN 2 last date, GST TRAN-2 Format, gst transition, How to file TRAN 2, TRAN 2 Filing, TRAN 2 GST, TRAN-2, TRAN-2 due date, TRAN-2 last date, TRAN-2 Offline tool, What is TRAN-2, When to file TRAN-2|Comments Off on TRAN 2 GST Form : Overview and Revised Timelines
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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
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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
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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
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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
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Have more questions? Check out our FAQs below.

PowerPacks FAQ

What is a PowerPack?

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!

Why do I need to pay annually?

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?

What if I want to cancel? Can I get a refund?

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!

Do you offer discounts?

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?

What if I need support?

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.

I don't see a PowerPack that I want listed here. Are you planning on adding more?

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!

Other Vendors are offering the same PowerPack for a Flat rate. Why should I pay you annually?

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!

What payment types are available to me?

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.

What if I want to buy multiple PowerPacks at the same time?

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!

Can I use a PowerPack on multiple serial numbers?

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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