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Works Contract under GST

What is works contract? Works contract, by definition, is an agreement to carry out for cash, deferred payment, or other valuable consideration – building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property. Typically, it is a combination of goods and services but is neither a composite nor a mixed supply as defined under the CGST Act. It also includes transfer of property (whether as goods or in some other form), which has happened for the purpose of execution of a works contract. It goes without saying that works contract in general, is of prime importance in the field of real estate. Thus, it is crucial for all real estate […]

What is Time of Supply for Services on Reverse Charge

In our previous blog, we discussed Time of Supply for Services under the Forward Charge Mechanism. Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay tax to the government. What is reverse charge mechanism? Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay the tax. For example, on availing a transportation service, the recipient of the service has to pay service tax to the government. Why reverse charge mechanism? In order to ensure that the tax is collected […]

By |2021-07-22T09:59:30+00:00March 31st, 2017|goods and services tax, GST, gst supply, gst supply conditions, gst supply on reverse charge, reverse charge, supply of service, time of supply|Comments Off on What is Time of Supply for Services on Reverse Charge

What is Time of Supply for Goods on Reverse Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods on Forward Charge. In this blog, we will discuss time of supply of goods on reverse charge. In order to ensure that the tax is collected on the sale of goods or services from various unorganised sectors, the government introduced Reverse Charge Mechanism. Under this, the recipient or buyer of goods or services has to pay the tax to the credit of the Government, unlike in the forward charge, where supplier is liable to pay the tax. The key change is the shift in responsibility of paying tax, which has moved from the supplier to the buyer. Under Current […]

By |2021-07-22T09:45:46+00:00March 31st, 2017|goods and services tax, GST, gst supply, gst supply conditions, reverse charge, supply of goods, time of supply|Comments Off on What is Time of Supply for Goods on Reverse Charge

What is Time of Supply for Services on Forward Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods. In this blog, we will discuss the Time of Supply on Forward Charge for Services. Under Current Regime Under the current indirect tax regime, on rendering taxable services, service tax is applicable. The point in time when service tax is to be paid to the central government is determined in accordance with the point of taxation (POT). According to POT, the liability to pay service tax on forward charge will be determined as shown below: Earliest of the following Date of issue of invoice If the invoice is issued within 30 days from the date of completion of the […]

By |2021-07-22T09:36:28+00:00March 29th, 2017|forward charge on services, forward charges, goods and services tax, GST, gst supply, gst supply conditions, supply of service, time of supply|Comments Off on What is Time of Supply for Services on Forward Charge

What is Time of Supply for Goods on Forward Charge

Point of Taxation (POT) refers to the point in time when tax is required to be paid. This is a mechanism which is used to determine the point in time when the tax liability will arise. Under the current indirect tax regime, the point of taxation is different for each of the tax type. Scenario Type of Tax Point of Taxation Manufacturing of Goods Central Excise Incidence of excise duty arises on the manufacture of goods in India, and the liability to pay excise duty arises at the time of removal of the excisable goods from the excise unit. For example, Goods manufactured on 28th April, 2016 and removed from the excise unit for sale on 5th May,2016. The liability of […]

By |2021-07-23T06:51:47+00:00March 27th, 2017|forward charges, forward charges on goods, goods and services tax, GST, gst supply, gst supply conditions, supply of goods, time of supply|Comments Off on What is Time of Supply for Goods on Forward Charge

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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