Value Added Tax: If VAT procedures sound complex, Tally 7.2 simplifies every aspect, now you can: - Determine user-defined VAT rates on products, classification of Purchase & Sales transactions based on VAT definitions - Generate VAT-compliant invoices - Collate VAT reports containing input tax paid, output tax collected, carry forward balance and net tax payable - File specific monthly/quarterly and annual Statutory Returns and forms compliant with the laws of your state just to name a few. What's more, Tally's legendary Power of Simplicity has proven to be the perfect solution for all Accounting and Inventory needs. With Tally 7.2 all you need to ensure is accuracy while keying in your invoices, thereafter all documents, reports and Statutory Returns will be generated automatically.
This means, you will not have to employ any additional staff, expensive consultants or spend your valuable time sweating over the details of any tax related or regulatory issues.
