Key GST Features and Description

• GST-Compliant Invoicing: TallyPrime automatically generates professional, tax-compliant invoices that include all mandatory details like GSTIN, HSN/SAC codes, and proper tax breakdowns (CGST, SGST, IGST, Cess). It also supports e-invoicing and e-way bill generation through seamless integration with the government portal.
• Automated Tax Calculation and Accounting: The software automatically calculates the correct tax liability for each transaction, reducing manual errors. Each transaction entry automatically updates the relevant ledgers and tax registers, ensuring real-time accuracy across accounting, inventory, and compliance data.
• Direct Return Filing: Users can prepare and upload their GSTR-1, GSTR-3B, and CMP-08 returns directly to the GST portal from within TallyPrime, eliminating the need for manual data entry into the portal or managing separate spreadsheets.
• Auto-Reconciliation: TallyPrime's powerful reconciliation feature automatically matches purchase data (GSTR-2A and GSTR-2B) with your book entries. This helps identify discrepancies, track input tax credits (ITC) at risk, and ensures accurate claims, preventing mismatches and potential penalties.
• Flexible Setup and Configuration: It offers the flexibility to configure GST rates at various levels (company, stock group, stock item, or ledger) to suit specific business needs. It also handles complex scenarios like reverse charge, imports, exports, and specific requirements for SEZ (Special Economic Zone) units.
• Multi-GSTIN Support: For businesses operating across multiple states or having different business verticals, TallyPrime allows management of multiple GST registrations (GSTINs) within a single company file.
• Error Detection and Correction: The software features built-in "Prevention, Detection, and Correction" mechanisms to flag missing or incorrect information in real-time, helping businesses stay audit-ready and avoid compliance errors.
• Comprehensive GST Reports: TallyPrime provides a range of insightful, readily available GST reports, including GSTR-1, GSTR-3B, ITC reports, and HSN/SAC summaries, offering a complete view of tax liabilities and helping in informed decision-making.
• Amendment Management: After returns are filed and marked as 'Signed' in TallyPrime, any subsequent modification to a transaction from that period is tracked and automatically reported as an amendment in the following month's returns.