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Tally launches VAT compliant accounting solution

BANGALORE: As the country gears up to adopt Value Added Tax (VAT) from 1 April, 2005, India's financial accounting company Tally Solutions, has launched its first VAT complaint Business Accounting solution, Tally 7.2.

 

 

Aimed at the over eight million establishments in the SME segment, the solution is positioned as the ultimate Accounting Software tool for India Inc encompassing VAT compliance amongst a host of other winning features.

 

 

Explaining the initiative, Tally Solutons managing director Bharat Goenka said, "VAT is simple and is aimed at transparency, but the changeover to VAT is a challenge, requiring a clear understanding of rules and compliance norms by the business community and more importantly the trading community. Tally Solutions has driven over 75 per cent of all VAT related education in India via seminars over the last 2 months and we have committed to conduct over 1500 customer event to demystify VAT in the coming weeks."

Unveiling Tally 7.2, Goenka said, "To make the changeover with simplicity, Tally 7.2 offers the convenience to print state specific Statutory VAT reports. This is an unprecedented move by any Accounting software tool."

 

 

Tally Solutions president Bharath Gopalakrishnan said, "With Tally 7.2, all a user needs to do is ensure the accuracy of all Purchase Invoices and Sales Invoices recorded. Thereafter, at the press of a key, State specific statutory reports, documents and accounts will be directly generated, along with forms. These could then be directly printed for filing Statutory Returns. Tally Solutions has over a decade of experience in countries like the UK, Singapore and a few others where our solution is already handling VAT successfully."

Tally 7.2 will address all VAT implementation issues such as offering:

· Single software addressing all states' requirements

· Configurability to handle differences in legislation

· Printing of Statutory reports

Tally Solutions will reach out to its customers through an extended channel arm of over 25000 resellers, enabled, trained and empowered by Tally Solutions to act as Value Added Resellers. By doing this, the company has revolutionized the software product business in India and has consolidated its position as the dominant market player in this space, informs an official release.

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