BITOAA meets tally to tackle GST

As the whole nation is in confusion what GST will bring with it but the nation is already started preparing for it. Goods and Services Tax (GST) would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments. Goods and Services Tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. This method allows GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Taxable goods and services are not distinguished from one another and are taxed at a single rate in a supply chain till the goods or services reach the consumer. Administrative responsibility would generally rest with a single authority to levy tax on goods and services. Exports would be zero-rated and imports would be levied the same taxes as domestic goods and services adhering to the destination principle. The introduction of Goods and Services Tax (GST) would be a significant step in the reform of indirect taxation in India.

As other IT associations of different cities organizing meeting on GST with Tally, Bhoj Information Technology and Office Automation Dealers Association (BITOAA) organized the meeting with Tally on 27/01/2017 at Hotel Signetic Blue, Bhopal. The meeting started with welcome note by the president of the association Mahesh Dubey, than a session by Core took place. Treasurer give the whole detail about the Account, then came the main part of the meeting , Tally members elaborated the whole concept of GST and what should be planned to make market grow and manage accounts even after the introduction of GST.

Then the stage opened for Question Answer Session for the members and the evening was finished with networking cocktail dinner.