| Sep-19-2024

TallyPrime 5.0, All New Connected GST Returns Experience

TallyPrime 5.0 connected GST return filing experience will prove to be a game-changer for businesses. With seamless uploads, downloads, auto-reconciliations, and return filing, TallyPrime has now transformed how businesses handle their GST returns.

Let's dive into the features to understand how this works.

Streamlined uploads of invoices

No more logging into multiple portals. With TallyPrime, you can upload GSTR-1, GSTR-3B, and CMP-08 directly from the software. This seamless integration ensures that all invoices are accurately recorded and submitted, reducing the risk of discrepancies and saving valuable time. By eliminating the hassle of manual data entry and juggling between different files or portals, TallyPrime ensures that your GST returns are accurate and timely.

Filing of GSTR-1, CMP-03

Filing GST returns has never been easier. TallyPrime allows users to file their GSTR-1 directly from the software without requiring them to navigate to the GST portal. Moreover, you can choose your preferred filing method, such as DSC or EVC, making the process even more convenient. Additionally, CMP-03 can be efficiently managed, ensuring compliance with minimal effort.

You can see the filing of GSTR-1 in action with our TallyPrime Instant Demo - no download required.

Automated ITC reconciliation

ITC reconciliation is a critical task for businesses to ensure that their input tax credit claims are accurate. TallyPrime’s connected GST feature simplifies this process by automatically reconciling data from GSTR-2A and GSTR-2B. This automation saves time while eliminating manual errors, providing your business with a clear view of your ITC status and assisting in resolving mismatches and rejections effortlessly.

Invoice Furnishing Facility (IFF) for monthly invoice upload

For businesses opting for the Invoice Furnishing Facility (IFF), TallyPrime provides a streamlined solution. Users can upload their monthly invoices directly from TallyPrime, ensuring timely compliance and avoiding last-minute rushes. This feature is particularly beneficial for SMEs, offering a sense of reliability for businesses that need to upload invoices regularly, ensuring a hassle-free and risk-free ITC assurance.

GSTR-1 and GSTR-3B reconciliation

Reconciling GSTR-1 and GSTR-3B data is crucial to ensure accuracy in GST filings. However, the manual process of reconciling each entry can be nerve-wracking. This is where TallyPrime makes the process simpler and straightforward by allowing you to download the auto-reconciled returns by comparing book data with portal data. The ITC breakup report and ledger voucher register provide detailed insights, helping businesses identify and resolve discrepancies quickly.

See it in action with our TallyPrime Instant Demo.

Key features of TallyPrime’s connected GST returns

Seamless Uploads & Downloads	Instantly upload GSTR-1, GSTR-3B, and CMP-08. Download auto-reconciled files of GSTR-1, GSTR-3B, GSTR-2A, and GSTR-2B effortlessly.
Effortless Filing	File GSTR-1 directly from TallyPrime using DSC or EVC, without logging into the GST portal.
Dynamic Party Management	Validate and create party ledgers using real-time GSTIN/UIN details fetched from the GST portal.
Insights on ITC at Risk	Track ITC at risk with detailed reports like ledger vouchers.

 

How does the connected GST feature benefit businesses?

Resolve Mismatches and Rejections	Ensure smooth filing and upload/download processes, minimizing errors and rejections.
Save Time	Automate real-time processes that integrate seamlessly with the GST portal, freeing up time for business growth.
Ensure Compliance	Maintain compliance with minimal effort, reducing the risk of penalties and legal issues.
Stay Informed	Get real-time updates and clear visibility into compliance and financial transactions directly within TallyPrime.

Conclusion

TallyPrime’s connected GST returns experience is more than just a feature; it's a revolution in how businesses handle their GST compliance. By automating and simplifying processes, TallyPrime empowers businesses to focus on what they do best growing and succeeding their business. For Ramesh and countless others, this means more time for their business and less time worrying about compliance.

Embrace the future of GST returns with TallyPrime and experience the transformation.