Home News This IT company ups GST Tally with 75% conversion

This IT company ups GST Tally with 75% conversion

GST glitches

BENGALURU: Software company Tally has helped over 75% of its 11 lakh customers migrate to the goods and services tax (GST) regime through its ERP software. Starting September, millions of businesses across India will need to file invoices on a monthly basis under the new tax regime.

The remaining 25% will gradually migrate to the Tally software solutions while many may also choose to upload invoices directly on the GST Network (GSTN) portal, managing director Bharat Goenka said. “We are seeing nearly 30,000 conversions every day from a peak of 50,000 conversions a day a few months ago,” he said.

Tally Solutions mainly works with small and medium businesses, which are expected to be the bulk of the taxpayers under GST.

This IT company ups GST Tally with 75% conversion

Goenka said that while the negativity around GST has gone, there is likely to be chaos once the filings begin next month, especially on the input tax credit.

Tally, which is one of the GST Suvidha Providers (GSP) to connect all invoices directly to the GSTN, is also offering its software solution as an Application Service provider (ASP). Tally Solutions has also bag ged a partnership with the Common Service Centres, wherein its software will be used at over 2.5 lakh physical centres.

“Apart from offering the software, we also have the ability to scale knowledge and skills at these centres,” Goenka said. Tally is also looking to help its customers file GST invoices offline through an integration with the offline tool of the GSTN.

Over 7.5 million businesses have registered as taxpayers under the GST regime, and Goenka estimates the number to go to 10 million by the end of the year. Among these, only 1.5 lakh businesses have opted to be under the composition scheme.

Source: Economic Times