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What Kind of Technology does a Composite Dealer Need?

Software for Composite Dealer

Businesses with turnover of up to 1.5 Crores or lesser can opt for the Composition Scheme, as per the GST Council. Only manufacturers of goods, dealers, and restaurants (not serving alcohol) can opt for the scheme. These types of businesses are not required to file their GST returns on a monthly basis. Rather, they have to file GSTR-4 on a quarterly basis, in which only summary-level details are required.  However, composite dealer cannot claim Input Tax Credit on their purchases.

If you are a composite dealer, technology must help you stay GST compliant, while making your everyday business affairs easy to manage.

Easy setup of tax rates for calculating tax liabilities

Under the composition scheme, a flat rate of 1% is applicable for a trader and manufacturer. You must be able to configure these tax rates in your business software and get tax liability figures at the end of the quarter in a single click.

Another challenge that technology can help you deal with is when the GST Council announces any changes in the tax rates going forward. Technology must give you the flexibility to accommodate these changes. Also, it should maintain a history of tax rates so that tax liability gets calculated more accurately.

For example, assume that the tax rate is 1% for the period between 1st April to 15th May. The tax rate gets changed to 1.5% from 16th May up to June 30th. Technology must ensure that your total liability for the quarter April to June, accounts in both these rates along with their applicable dates.

Technology should segregate taxable, nil and exempt turnover

As per the GST law, a composite dealer’s tax liability is calculated based on pre-defined tax percentage on taxable turnover. The taxable turnover applies only on supplies of taxable goods. Goods can be categorized either as under taxable, or nil or exempt categories.

Firstly, technology should categorize the goods, and secondly, segregate the taxable turnover and ensure that you pay the right amount of tax.

Record purchases in the right manner

As mentioned earlier, if you are a composite dealer you will not be able to claim Input Tax Credit on your purchases. At the same time, you also have to pay taxes on purchases made from regular dealers or unregistered parties. We will explain both the cases to you.

Firstly, for purchases made from regular dealers, you will be charged CGST and SGST for local purchases, or IGST in case of purchases made from other states.  These taxes have to be accounted in as cost since you cannot claim any Input Tax Credit on these taxes. Also, these costs have to be added to the purchase cost of goods so that you can clearly make out the cost for the particular good.

Secondly, for purchases made from unregistered dealers (from 1st July to 12th Oct. 2017), Reverse Charge will be applicable. This means you have to calculate taxes on such purchases and accordingly factor in taxes and raise your tax liability.
Technology can help you in handling such purchases and appropriately calculate your tax liability.

Manage transactions under Reverse Charge Mechanism

As a composite dealer, in case of specified purchases and import of services, you are liable to pay Reverse Charge.

Technology should help you in generating these transactions and accordingly raise your tax liability so that you end up paying the right taxes.

Composite dealers can Manage and Generate their e-Way Bills

An e-Way Bill is required for transporting goods worth more than Rs. 50,000/- within states wherever applicable, and in some cases even for inter-state transactions. To obtain e-Way Bills, you need transaction level and transportation level details. You will need to record these details in your business software to create invoices, then log in to the e-Way portal and fill in these again along with additional details of transportation, to get the e-Way Bill.

With the right technology, you must be able to avoid the repetitive activity and reduce the chances of manual errors. Your software must generate a JSON file of the invoice which can be directly uploaded on the portal to generate the corresponding e-Way Bill.

Generate ‘Bill of Supply’ easily and file GSTR-4

As a composite dealer, you cannot charge tax on a sale, and thereby have to generate a ‘Bill of Supply’ instead of an invoice. Also, you need to file GSTR-4 on a quarterly basis and accordingly pay your tax liabilities.

It can become challenging to segregate taxable supplies, calculate taxable turnover, and add tax liabilities based on Reverse Charge. Any manual error could lead to the rejection of your returns or result in you paying the wrong amount of tax.

Technology should help you to calculate the right amount of tax during the creation of transactions, generate proper Bills of Supply, and calculate the overall tax liability. It must help you to file your GSTR-4 returns in the right way.

To make GSTR-4 filing easy for you, technology should help you to generate the form in JSON directly, which can be uploaded on the GST Portal for filing the return.

Before we conclude this blogpost, we would like to share the good news with all composite dealers that very soon, you will be able to experience all of the above capabilities in the upcoming Tally.ERP 9 Release 6.4. Stay tuned to our blogposts to get all the latest updates.

How Technology Helps in Managing & Generating e-Way Bills

How Technology will help you in generating e-Way Bills

How Technology Helps in Managing & Generating e-Way Bills

As we all know, the e-Way Bill has been implemented by some states of India for intra-state transportation, and in some cases for inter-state as well. While, the implementation at a national level has been deferred by the GST Council.

An e-Way Bill has to be generated when goods worth more than Rs. 50,000 have to be transported.

Here in this blog post, we will take you through various business situations and suggest how technology can make it easy for you to manage e-Way Bills.

Firstly, we would like to give you a background about e-Way Bills.

  • To generate e-Way Bill, you have to login to the e-Way Bill portal and provide all the necessary details that are required to create the invoice, along with transportation details, such as mode of transport, vehicle number, distance and so on.
  • An e-Way Bill can be generated either by a registered dealer or a transporter. In case of a purchase made from an unregistered dealer, either the transporter or the buyer has to generate e-Way Bill.

Now let us understand how technology can make your life easy with respect to managing e-Way Bills.

Technology can help in quicker and error-free generation of e-Way Bills

As we pointed out earlier, two types of information are required to generate e-Way Bills, invoice and transportation details.

As mentioned above, you need two types of information to generate e-Way Bills. So, it would be a great advantage for you if at the time of creation of invoice, you need to key in only the additional transportation details as per the format described by the CBEC department. After this, you must be able to export the details in a JSON file which can be directly uploaded on the e-Way Bill portal, which generates the e-Way Bill. This way, you will be save plenty of time and reduce chances of errors.

Generate e-Way Bills as per the needs of business

Every business has a different way of working. Let’s take the case of a business which generates invoices in the morning hours at one go for all the orders received the previous day. For such businesses it will be more convenient to first create all the invoices, feed in all the details for e-Way Bills, export a single JSON for all the invoices, and get their e-Way Bills at one go from the portal.

While at the same time, depending on the need of the business situation, another business would prefer to generate e-Way Bill for each invoice as they would like to dispatch goods as and when they receive orders.

Technology should be flexible enough to help create JSON files for either single or multiple invoices depending on the need of the business.

Switch between e-Way Bill portal and business software

In some business cases, where you have two data entry operators, one for managing e-Way Bill on portal while other user to generate invoices. Then both these users should be interdependent. What we mean by this is if User1 generates invoice first along with all the details then User 2 can simply use this invoice to generate a JSON, upload it to the portal and get the e-Way Bill Number.

Or the other way round, depending on the business situation, User 2 logs in to the portal first, and keys in the necessary details to get the e-Way Bill. User 1 should be able to key in the e-Way Bill No. at the time of creating the invoice in the system, which was already generated by User 2.

Technology must give flexibility to support such different business scenarios.

Technology must ensure you never miss out on any transaction that needs an e-Way Bill

As humans, we are prone to make errors unknowingly. If there are hundreds of transactions keyed in, it is quite likely that you might miss out on those for which e-Way Bills need to be generated, to ensure compliance.

Let’s take a case, where you have already transported goods to the transporter and then realize that you missed generating e-Way Bill for the consignment. Although technology is required to help you sort this situation, it must in the first place help avoid such a mistake. It must pre-define the criteria for qualifying a transaction for e-Way Bill, and segregate those transactions which fulfills the criteria in the form of reports.

Technology must help you in generating and printing consolidated e-Way Bill

As per commercial tax department, if mode of transport, State, place of supply, and vehicle number are same then you can generate a consolidated e-Way Bill Number. By generating a consolidated e-Way Bill Number it will be easier for transporter to manage, as this consolidated e-Way Bill contains details of every individual e-way Bills. A prerequisite to consolidated e-Way Bill is to have individual e-Way Bills for every invoice.

Technology should help you in grouping these transactions based on defined criteria and then it should help you in generating a JSON, so that you can upload it on e-Way bill portal and get a consolidated e-Way Bill Number.

Before we conclude, we would like to bring to your attention that there are many more business scenarios which must be supported by your software. Our upcoming Tally.ERP 9 Release 6.4 supports all of the above mentioned technology aspects and more. Our intention is to make managing and generating e-Way Bills simpler for you.

For more updates on products, keep reading our blogposts.

Consolidated E-way Bill

Generating Consolidated E-way Bills

Consolidated E-way Bill – Generating, Cancelling & Updating

Over the last few blogs, we have taken you through all the options available to you under the “E-way Bill” tab, on the main menu of the e-way bill portal. We are now in a position to seamlessly navigate the portal as far as generating a new e-way bill, generating a bulk e-way bill, updating the vehicle number in an e-way bill, printing an e-way bill and cancelling an e-way bill is concerned. In this blog, as well as the next, we will deal with how to generate consolidated e-way bill, as well as how to cancel, print and update it. Before we go into the portal features, let us understand more about the utility of the consolidated e-way bill.

What is a Consolidated E-way Bill?

A consolidated e-way bill is generated whenever the supplier feels the need to transport multiple consignments of goods in a single vehicle. In other words, if a single vehicle is transporting multiple consignments belonging to the same supplier, there is no need to deal with separate e-way bills for each consignment, but rather a consolidated e-way bill may be generated. This will not only make things simple for the supplier, but also for the transporter, who will then need to carry a single document.
In order to access the options available for consolidated e-way bills, you may:

    • • Log on to www.ewaybill.nic.in
    • • Enter your User Name and Password, then the Captcha Code, and then click “Login”, as shown in the picture below:

consolidated e way bill

    • • On successful authentication of your credentials, the main menu of the e-way bill portal will open up as shown below:

consolidated ewb

    • On the left hand side of the main menu of the e-way bill portal, click the option “Consolidated EWB”

Generating Consolidated E-way bill

In order to generate consolidated e-way bill, the following are the steps:

    • • Ensure that you are ready with all the e-way bill numbers of all the consignments, which you plan to transport in the single conveyance or vehicle
    • • Select the sub-option “Generate New” under the “Consolidated EWB” tab as shown below:

consolidated e way bill form

    • • On doing so, the following consolidated e-way bill form will be displayed:

consolidated ewb form

    • • Fill in the following fields:

      • * Mode (Road, Rail, Air OR Ship)
      • * From State (Select from the drop-down menu)
      • * Vehicle Starts From
      • * Vehicle No. (as per the format specified, as shown in the image)
      • * E-way Bill No. (Once you enter this, the remaining fields such as “E-way Bill Date”. “Generated BY”, “Inv. No. and Date”, “Inv. Amount”, “Source” and “Destination”, will be auto-populated)
      • * Add multiple consignments by clicking on the “+” sign
      • * Click “Submit”

• On completion and submission of this consolidated e-way bill form, the completed e-way bill with a consolidated e-way bill number, will be displayed as follows:
consolidated e way bill

Cancelling Consolidated E-way bill

In order to cancel a consolidated e-way bill, the following are the steps:

    • • Select the sub-option “Generate New” under the “Consolidated EWB” tab as shown below:

consolidated web generation

    • • On doing so, the following screen will be displayed:

consolidated ewb

    • • Enter the Consolidated e-way bill no.
    • • Click “Go”
    • On doing so, the portal will display the concerned consolidated e-way bill with an option to cancel. Once cancelled, you will not be able to make any further changes to that particular consolidated e-way bill.

Printing Consolidated E-way bill

In order to print a consolidated e-way bill, the following are the steps:

    • • Select the sub-option “Print Consolidated EWB” under the “Consolidated EWB” tab as shown below:

consolidated e way bill

    • • On doing so, the following screen will be displayed:

consolidation e way bill system

    • • Enter the Consolidated e-way bill no.
    • • Click “Go”
    • On doing so, the portal will display the concerned consolidated EWB with an option to print.

Updating vehicle number for Consolidated E-way bill

In order to update the vehicle number for a consolidated e-way bill, the following are the steps:

    • • Select the sub-option “Vehicle Update” under the “Consolidated EWB” tab as shown below:

consolidated e way bill

    • • On doing so, the following screen will be displayed:

consolidated ewb

    • • Choose, the info option, by which you want to view the consolidated e-way bill (“Consolidated EWB No.” OR “Generated Date”)
    • • Based on the option you choose, you can either enter the consolidated e-way bill no. or you can select the date on which the consolidated EWB was generated
    • • Click “Go”
    • • On doing so, the portal will display a list of consolidated e-way bills. You may select the particular consolidated EWB to update the vehicle number, post which the following screen will be displayed:

generate consolidated ewb

    • Please note that the original “From Place” will be auto-populated.
    • • Fill in the following fields:

      • * Mode of Transport (Road, Rail, Air OR Ship)
      • * Enter Vehicle No.
      • * Enter From Place
      • * Select From State (Select from the drop-down menu)
      • * Select Reason (Select from the drop-down menu, the appropriate reason, which could be transhipment or vehicle breaking down)
      • * Remarks

• In case there are any fields which are entered wrongly, an appropriate error message will pop up. If all is in order, the vehicle number will get updated to that particular consolidated EWB.

In our next blog, we will deal with a slightly more complex topic i.e. how to generate and manage bulk consolidated e-way bills.

How to Update Vehicle Number in E-way Bill

Update Vehicle Number in the E-way Bill - Update E-Way Bill

In our previous blogs, we have discussed about how to generate e-way bills, both individually as well as in bulk. One crucial observation regarding the e-way bill is, that the e-way bill is not valid for movement of goods, without a vehicle number on it. In case the suppliers or recipients are transporting the consignment of goods on their own via their own private vehicle or non-transporter vehicle, they themselves will fill the vehicle no. Else, if the suppliers are using the services of a transporter, they will need to provide the Transporter ID of the transporter. The transporter will then need to sign in to the e-way bill portal and update vehicle number in E-way Bill from his end.

However, there may be situations, where the vehicle might get changed. One reason could be that the transporter may be working with multiple vehicles working across different areas, and would have arranged for the consignment to be transited from one vehicle to another, as the goods pass from one area to another. Another more practical reason could be vehicle breakdown, in which case, the transporter will need to get hold of another vehicle to continue the transport of goods. In both cases, it is imperative that we update e-way bill with the right vehicle no., so that at any point in time, should the e-way bill be checked by any tax official, the vehicle no. should match with the vehicle carrying the consignment. This is precisely why, the provision has been kept for E-way bill updation with the vehicle no. any number of times.

In this blog, we will understand how to update vehicle number in EWB, to ensure a smooth transportation of goods.

How to update vehicle number in E-way Bill

    • Before going for updating the vehicle no., you should be ready with the e-way bill for which you want to update the vehicle no. and the new vehicle no. for data entry
    • Log on to ewaybill.nic.in
    • Enter your User Name and Password, then the Captcha Code, and then click “Login”, as shown in the picture below:

e-way bill-vehicle-1

    • On successful authentication of your credentials, the main menu of the e-way bill portal will open up as shown below:

e-way bill-vehicle-2

    • On the left hand side of the main menu of the e-way bill portal, click the option “E-way Bill”
    • Click the sub-option “Update Vehicle No.”

e-way-bill-vehicle-3

    • On doing so, you will see the following screen:

e-way-bill-vehicle-4

    • You can choose to see your e-way bills by either of the following 3 options, under the field “Show E-way Bill”:
      • E-Way Bill No.
      • Generated Date
      • Generator GSTIN
    • Based on the option you select, you will be asked to enter the e-way bill no. / generated date / generator GSTIN, which will fetch you the e-way bill of your choice, for which you want to update the vehicle no.
    • Once you have selected the e-way bill of your choice, for which you want to update the vehicle no., you will be redirected to the following form:

e-way-bill-vehicle-5

  • In the vehicle no. EWB updation form, based on the e-way bill you have selected, the following fields will be auto-populated:
    • From GSTIN & Place Information
    • To GSTIN & Place Information
  • The following fields will need to be filled in by you:
    • Mode of Transport (Road, Rail, Air OR Ship)
    • Enter Vehicle No. (If the mode of transportation is rail, air or ship, you need to enter the transporter document no., instead of the vehicle no.)
    • Enter From Place
    • Select From State (Select from the drop-down menu)
    • Select Reason (Select from the drop-down menu, the appropriate reason, which could be transhipment or vehicle breaking down)
    • Remarks

Once you have submitted the request for updating the vehicle no. the portal will validate the values entered by you. In case of any error, the appropriate error message will pop-up. If all is in order, the vehicle no. will be updated instantly, and will be aligned against the concerned e-way bill.

E-way Bill Cancellation and Printing

E-way Bill Cancellation

In order to access these 2 options,

  • Log on to ewaybill.nic.in
  • Enter your User Name and Password, then the Captcha Code, and then click “Login”, as shown in the picture below:

other option e-way bill-1

  • On successful authentication of your credentials, the main menu of the e-way bill portal will open up as shown below:

other option e-way bill-2

  • On the left hand side of the main menu of the e-way bill portal, click the option “E-way Bill”

How to cancel E-way bill

There might be situations where you may be required to do cancellation of EWB which has been generated. The reasons could be many – either the consignment of goods are not being transported, or the goods are not being moved as per the plan or the details mentioned in the e-way bill, or you would have made an incorrect entry in the e-way bill, which you may have realized later. Obviously, you may want to delete the e-way bill, but the provision for deletion of e-way bills which are already generated is not available in the e-way bill portal. Instead of deletion, you can always cancel e-way bills, but you will need to do it within 24 hours of having generated it. Please note, that if the concerned e-way bill has already been verified by any empowered officer, then it cannot be cancelled. You can easily carry out EWB cancellation, by navigating to the main menu, as detailed above, and going through the following steps:

  • Before going for the e-way bill cancellation, keep the e-way bill number ready with you
  • Under the “E-way Bill”, tab, click the sub-option “Cancel”

other option e-way bill-3

  • On doing so, the following screen will be displayed:

other option e-way bill-4

  • Enter the 12 digit e-way bill no., for the e-way bill you want to cancel
  • Select “Go”
  • Post that, the e-way bill in question, will be displayed, and you will then need to fill in a suitable reason for the cancellation. Once that is done, your e-way bill will be cancelled, and you will not be able to use it further, for the movement of goods; in fact doing so will be deemed illegal

E-way bill Printing

You can easily carry out EWB printing, by navigating to the main menu, as detailed above, and going through the following steps:

  • Under the “E-way Bill”, tab, click the sub-option “Print EWB”

other option e-way bill-5

  • On doing so, the following screen will be displayed:

other option e-way bill-6

  • Enter the 12 digit e-way bill no., for the e-way bill you want to print
  • Select “Go”
  • Post that, the e-way bill in question, will be displayed, with an option named “Print”, right at the bottom. Click that, and your e-way bill will be printed.

other option e-way bill-7

 

Bulk E-way Bill Generation on the E-way Bill Portal

e-way bill bulk generation upload

In our previous blog, we showed you how you can generate your very first e-way bill from the e-way bill portal. As you read this, a lot of States did use the portal on a trial basis, and the e-way bill portal saw over 2,00,000 e-way bills being generated on a daily basis.

The number is surely not surprising, as chances are you will face many a situation, where you will be required to do bulk e-way bill generation, rather than on a singular basis. In this blog, we will show you how you can save time, and ramp up your speed of doing business by generating bulk e-way bills on the e-way bill portal.

Generating bulk E-way Bills on the E-way Bill Portal

    • Log on to ewaybill.nic.in
    • Enter your User Name and Password, then the Captcha Code, and then click “Login”, as shown in the picture below:

bulk-eway-bill-1

    • On successful authentication of your credentials, the main menu of the e-way bill portal will open up as shown below:

bulk-eway-bill-2

    • On the left hand side of the main menu of the e-way bill portal, click the option “E-way Bill”
    • Click the sub-option “Generate Bulk”

bulk-eway-bill-3

    • On doing so, you will see the following screen:

bulk-eway-bill-4

    • Click “Choose File” to browse for the JSON file containing the details to be included in your e-way bills, and then click “Upload & Generate”
    • On doing so, the portal will process your request. If there is an error, it will show up on the “Error Description” field. If all is in order, you will be able to generate bulk e-way bill, as shown below:

bulk-eway-bill-5

Now, you must be wondering, where do we get the JSON file from? What exactly is it and how to generate it? Let’s understand a little further.

Obtaining JSON file for bulk E-way Bill generation

As already explained above, e way bill bulk upload is an effective method of saving a lot of time. The process as such, requires you to upload one file, in the JSON format, containing multiple requests for e-way bill, at one shot on the e-way bill portal. The system will then generate e-way bills, for each request you have provided, one-by-one and show the result in a table. You can then extract the details from the table into your own system for your reference and further action.

Now, the JSON file which you need to upload, can be created in 2 ways:

  • Using E-way Bill JSON Format File
  • Using E-way Bill JSON Preparation Tool

Both the E-way Bill JSON Format File and the E-way Bill JSON Preparation Tool, are available for download from the e-way bill portal, as shown below:
bulk-eway-bill-6

    • Log on to ewaybill.nic.in
    • Click on the “How To Use” tab
    • Click on “Tools”
    • Click on “Bulk Generation Tools”
    • Once you do that, you will see the following page opening, which includes a host of bulk generation of EWB attributes & tools:

bulk-eway-bill-7

Using E-way Bill JSON format file

If you are someone who is comfortable with working on JSON files, you may go for this option for bulk e-way bill generation.

  • In the page shown above, click “E-waybill JSON Format”
  • Once you do this, a webpage will open up. You need to right-click, choose “Save As”, and save the file on your system. The file will get downloaded on your system as a JSON file.
  • In the page shown above, click “E-waybill Attributes”. An excel sheet will be downloaded, which will include the e-way bill JSON format, parameters, master codes and error codes, which will help you fill the JSON file with the right details of your request.
  • While a single JSON file with multiple requests are allowed, it is recommended that you prepare the JSON file with around 500 requests to avoid uploading challenges.
  • Finally, validate all the parameters of your request, as per the format, codes and interlinked values before preparing your final JSON file, which you can then upload as discussed above.

Using E-way Bill JSON preparation tool

If you are more comfortable working with excel sheets, you may go for this option of bulk EWB converter tool, which has been provided on the e-way bill portal, primarily due to the demand of tax payers wanting an alternative mechanism.

    • In the page shown above, click “E-waybill JSON Preparation”
    • Once you do this, an excel sheet will be downloaded, which will include a welcome note, an e-way bill format, master codes, a sample e-way bill and FAQs.
    • In the 2nd sheet named “e-way bill”, you can fill in the details of your request, and once you are done, you can click “Validate”. Once the validation is done, you can then click “Prepare JSON”, and obtain your JSON file, which you can then upload as discussed above.

bulk-eway-bill-8

Needless to say, the second option gives you a greater ease of verifying what you have keyed in, and thus you may prefer using the JSON Preparation Tool, for bulk e-way bill generation, compared to working on the JSON Format File. Having said that, either methods are fairly effective enough to allow you to generate your bulk e-way bills in quick time.

 
 

Budget 2018 Highlights

Budget 2018 Highlights

Budget 2018 Highlights – A Roti, Kapda & Kisaan Proposition

1st of February indeed turned out to be a landmark day in Indian Economy. Not only did this day witness the rollout of the e-way bill, but also the first ever budget to be announced in the GST era – Budget 2018.

Finance Minister Mr. Arun Jaitley started off Budget 2018 on a positive note, as he started off with the promise that India will become the 5th largest economy very soon. Not only does the government estimate a 7.2-7.5% GDP growth in the second half of the current fiscal year, but also a steady growth rate of 7.5% over the next 3 years. With the fiscal deficit estimated to drop to 3.3% in FY 2018-19 from the current 3.5% in FY 2017-18, exports to grow by 15% and the manufacturing sector on track, the economy surely is on the right track, and that was what was highlighted in the Budget 2018 updates.

Major Budget 2018 highlights:

Agriculture

  • Farmers’ income to be doubled by 2020
  • Farmers’ Minimum Support Price (MSP) to be increased to 1.5 times
  • Centres for Direct Sales to be opened for farmers
  • Farm Credit to be increased by 10% to INR 11 Lakh Crore
  • INR 2,000 Crore to be allocated to the Agricultural Development Corpus
  • INR 500 Crore to be allocated to Operation Green – a new mission to take the agricultural sector forward
  • Agricultural Exports to be liberalised
  • Allocations in Krishi Yojana and Food Processing to be doubled
  • INR 10,000 Crore to be allocated to fisheries

Rural Economy

  • 8 Crore women to get free gas connection
  • 2 Crore toilets to be built as part of Swachch Bharat campaign
  • 51 Lakh new houses to be constructed
  • 75 Crore houses to get power
  • INR 12.34 Lakh Crore to be allocated for rural infrastructure and housing
  • Loans to rural self-help groups to be increased

Education

  • INR 1 Lakh Crore to be allocated to RISE – an education initiative to be started and to be completed by 2022
  • Eklavya Schools to be set up in each block with substantial population of Scheduled Tribes
  • PM Research Fellowship Programme to identify 1000 B. Tech. students each year, who will be provided grants and opportunities to pursue in IITs and IISc, while also teaching undergraduate students once a week at that time
  • New Rail University to be set up in Vadodara
  • 13 Lakh untrained teachers to get trained
  • Initiatives will be explored to move towards digital education

Healthcare

  • INR 1,200 Crore to be allocated for the Aayushman Bharat Programme, under which 1.5 Lakh health centres are to be set-up- 1200 Crore
  • INR 5 Lakh cover per family per year to be provided under the Rashtirya Bima Yojana, the flagship National Health Protection Scheme. This will benefit over 10 Crore families – roughly 500 million people – as far as secondary and tertiary medical care and hospitalisation is concerned
  • 1 medical college to be set up in every 3 constituencies
  • 1 government medical college to be present in every state. Under this, 24 new government medical colleges to be set up
  • INR 600 Crore to be allocated for TB nutritional support

Infrastructure

  • INR 2.04 Lakh Crore to be allocated for Smart City Mission – 99 cities identified under the same
  • 9,000 Km of national highways to be completed
  • 36,000 Km of railway tracks to be renewed
  • 4,267 unmanned railway crossings to be eliminated
  • Escalators to be installed in all railway stations
  • INR 1,48,528 Crore to be allocated for the digitization of 600 railway stations
  • INR 17,000 Crore investment boost to be given to Bengaluru Metro Rail and INR 11,000 Crore investment boost to be given to Mumbai Rail
  • Airport capacities to be raised to accommodate 5 billion trips in a year
  • 5 lakh Wi-fi hotspots to be set up

Pollution Control

It was heartening to find a few pollution control initiatives as part of the Budget 2018 highlights:

  • Special schemes to be rolled out for Haryana and NCR to control air pollution
  • 187 projects approved for River Ganga clean-up project

MSME & Welfare Financing

Some of the major Budget 2018 highlights with respect to MSME and welfare financing were as follows:

  • 372 basic business reforms to be introduced across all states
  • INR 56,919 Crore allocated for welfare of SCs
  • INR 48,081 Crore allocated for welfare of STs
  • Online loan sanctioning to be introduced for quicker set-up of small businesses, including automatic linkage to GSTN on formation
  • INR 3,794 Crore to be allocated to the MSME sector in the form of capital support and interest subsidy as part of Mudra Yojana
  • Jan Dhan Yojana to cover all 600 million bank A/C s
  • INR 7,148 Crore to be allocated for textiles
  • Kaushal Kendras to be set up for skill development of youth

Direct Taxes

The Budget 2018 updates with regards to direct taxation, had a plethora of initiatives:

  • INR 6.4 Lakh Crore total tax collection in FY 2014-15 has increased to INR 8.47 Lakh Crore total tax collection in FY 2016-17
  • Tax payer base has increased – 85.51 Lakh new tax payers who filed income tax returns in FY 16-17
  • INR 80,000 Crore disinvestment target to be set
  • 100% Tax Deduction to be provided to farmer producer companies with turnover of up to INR 100 Crore, for 5 years
  • Reduced Corporate Tax of 25% to be extended to companies with turnover of up to 250 Crore
  • Government to contribute 12% of new employee wages as part of EPF for next 3 years
  • New women employees’ contribution to EPF to be reduced from 12% to 8%
  • Personal income tax slabs to remain unchanged
  • Standard deduction of INR 40,000 to be re-introduced in lieu of the medical reimbursement worth INR 15,000 and transport allowance worth INR 19,200 which are currently available. Thus the net benefit will only be INR 5,800, which will reach over 2.5 Crore tax payers
  • Health And Education Cess to be increased from 3% to 4%
  • Host of tax benefits to be provided for senior citizens
  • Capital gains tax at 10% to be re-introduced on gains of over INR 1 lakh on long-term investments
  • E-assessment platforms to be rolled out across all touch-points to reduce human intervention

Indirect Taxes

This was the first budget to be presented in the GST era, and also probably the first budget with no substantial indirect tax component, as most of the initiatives were already being notified by the GST Council from time to time. Nevertheless, a few Budget 2018 highlights pertaining to indirect taxes, are as follows:

  • As per the budget news, the GST revenue shortfall is to be balanced by higher direct tax and disinvestment collections. Overall INR 21.57 Lakh Crore transferred as net GST to states as against projection of INR 21.47 Lakh Crore
  • GST compensation cess has been budgeted at INR 90,000 Crore for FY 18-19, while revised estimates for FY18 are at INR 61,000 Crore. The GST compensation cess funds are to be kept under public accounts
  • GST collections projection are pegged at INR 7.43 Lakh Crore in FY 18-19 as against INR 4.44 lakh Crore in nine months of the current fiscal
  • Central Board of Excise and Customs to be renamed as Central Board of Indirect Taxes and Customs
  • Excise Duty – As per the Budget 2018 highlights, the price of petrol and diesel has effectively come down by INR 2 per litre due to the cut in excise duty
  • Imports & Customs Duty – A social welfare surcharge of 10% has now been introduced on imported goods. In addition, the following rate changes were declared:
Increase in Rates ⇑ Decrease in Rates ⇓
Item Old Rate New Rate Item Old Rate New Rate
LCD / LED / OLED panels, parts of TV 7.5% 15% Cashews 5% 2.5%
Smart watches, wearable devices, footwear 10% 20% Solar Tempered Glass for manufacture of solar cells 5% Exempted
Mobile Phones 15% 20%  –
Crude Vegetable Oils 20% 35%  –
Refined Vegetable Oil 15% 20%  –
Imitation Jewellery 15% 20%

In conclusion, Budget 2018 India Inc. was largely a pro-agriculture, pro-healthcare and pro-rural budget, which aims to improve the quality of life of the financially backward sections of the society. At the same time, as per the Budget 2018 highlights, the government will also be looking forward in terms of investment in modern fields – robotics, AI, block chain and cyber security, which will surely bolster the Indian economy in times to come.

 

E-Way Bill Generation for Transactions Recorded in Tally.ERP 9

E-Way Bill Generation

Many of you who are reading this blogpost have this one question at the top of your mind, “How do I generate e-Way Bill for my business?”

This blogpost will take you briefly through what an e-Way bill is all about, and how you can generate them for invoices recorded in Tally.EPR 9. We will also give you a sneak preview of how you can generate e-Way bill comfortably and easily by using the upcoming Tally.ERP 9 Release 6.4.

  • Introduction
  • How to generate e-Way Bill for transactions recorded in Tally.ERP 9
  • Sneak preview of how to manage e-Way Bill in the upcoming release of Tally.ERP 9

Introduction

From 1st Feb 2018 onwards, if you are transporting goods worth more than Rs. 50,000 to another State, you will need an e-Way Bill. The e-Way Bill has to be generated on the e-Way Bill portal where you or the transporter have to upload certain mandatory details on the portal, after which the portal generates an e-Way Bill along with a unique e-Way Bill Number (EBN). A copy of the e-Way Bill Number has to be carried by the transporter along with the invoice.

Generate e-Way Bill for transactions recorded in Tally.ERP 9

If you are already using Tally.ERP 9, below is a simple step-by-step guide on how to generate e-Way Bill Numbers for transactions recorded in Tally.ERP 9.

The e-Way Bill captures invoice details and transport details. The invoice level details will be readily available in the invoices which you have created in Tally.ERP 9.

Tally.ERP 9 provides two options to print invoices. You can choose from either of the following two options which are available in the F12 configuration while printing.

  • “Print item-wise GST details” option
  • “Print HSN/SAC details” option

Now you must login to the e-Way portal and provide invoice information along with transport details. You can do this either by downloading the Excel Offline Utility tool and filling it up, or by entering details directly in the portal itself. After this, the portal will generate the corresponding e-Way Bill with a unique e-Way Bill Number. This bill can be printed and the same can be carried along with the tax invoice generated from Tally at the time of transporting goods.

You can also record e-Way Bill information in the narration field of the invoice. If your business operates in Karnataka, you can capture the e-Way Bill information in the “Provide GST details” sub-form.

Upcoming Tally.ERP 9 Release 6.4 will make e-Way Bill management simpler

While you can still use your current Tally.ERP 9, the Tally team is glad to inform that we are launching a new release by 2nd week of february with features to make e-Way Bill management a comfortable experience in Tally.ERP 9.
Below is a sneak preview of some of the features of Release 6.4:

  • Tally.ERP 9 Release 6.4 will identify invoices that need e-Way Bill and alert you if there are any missing details which are mandatory for generating the bills.
  • With a single click, you can export all the information needed for generating e-Way Bill numbers in a JSON format or the Excel Offline Utility tool provided by the department.
  • You will have the flexibility to export e-Way Bill information for each invoice at the time of saving, or for multiple invoices at one go through a report.
  • Upload the JSON file in the e-Way Bill portal. The e-Way Bill numbers generated on the portal can be updated against their corresponding invoices in Tally.ERP 9.
  • You can record and track invoices along with their e-Way Bill numbers from reports.

Watch out for Tally.ERP 9 Release 6.4 and make e-Way bill generation a comfortable experience in your business.

E-way Bill User Manual

 

E-way Bill User Manual to Recover User Name, Trans ID or Password

In our previous blogs, we took you through the process of how to obtain registration at the official GST e-way bill portal, both for registered businesses (who could be suppliers or recipients) as well as for small unregistered transporters. We saw, as per the e-way bill user manual, how the registration process is relatively simpler for registered businesses, as it is primarily GSTIN driven. We also saw, how the registration process is a little longer for unregistered transporters who need to provide all relevant business details to obtain registration at the e-way bill portal.

At the end of the registration process, both registered businesses and unregistered transporters will obtain a User ID or User Name, and will also be able to set a Password for themselves. In addition, unregistered transporters will obtain a Transporter ID or TRANS ID. All three credentials are extremely important and need to be maintained carefully, in order to navigate the e-way bill portal.

Now, the question arises, as to what can be done, if the User Name or the TRANS ID or the password is forgotten. To begin with, if the entered User Name and Password is wrong for three times continuously, then the e-way bill portal will freeze, and the user will not be able to action anything on the portal for the next 5 minutes. After 5 minutes, the user can again try login in using the credentials, but still if the correct credentials are not recalled, it becomes a problem.

In that case, how will businesses and transporters regain access to the e-way bill portal? Let’s find out.

E-way bill user manual to recover User Name

In case you have forgotten your User ID / User Name, you need to do the following:

    • Log on to ewaybill.nic.in
    • Click on “Forgot Username?” as shown in the picture below:

e-way-bill-system

    • Once you click that, a page will appear as shown below:

e-way-bill-system-2

  • You need to enter the following details (compulsory fields are marked with *):
    • Enter GSTN / Transin (Transporter Identification Number)*
    • State* (Select from a drop-down menu)
    • Pincode of Principal Place of Business*
    • Registered Mobile No*
    • Email Address
    • Enter the Captcha Code
    • Click “Go”
  • As soon as you complete this, your User ID or User Name will be sent via SMS to your registered mobile number.

E-way bill user manual to recover Password

In case you have forgotten your Password, you need to do the following:

    • Log on to ewaybill.nic.in
    • Click on “Forgot Username?” as shown in the picture below:

e-way-bill-system-3

    • Once you click that, a page will appear as shown below:

e-way-bill-system-4

  • You need to enter the following details (compulsory fields are marked with *):
    • User Name*
    • GSTN / Transin (Transporter Identification Number)*
    • State* (Select from a drop-down menu)
    • Pincode of Principal Place of Business*
    • Registered Mobile No*
    • Email Address
    • Enter the Captcha Code
    • Click “Go”
  • As soon as you complete this, you will get a new one time password (OTP) via SMS to your registered mobile number. Using this password, you can login again and create your new password.

E-way bill user manual to recover Trans ID

If you are an unregistered transporter, who has forgotten your Trans ID, you need to do the following:

    • Log on to ewaybill.nic.in
    • Click on “Forgot Trans ID?” as shown in the picture below:

e-way-bill-system-5

    • Once you click that, a page will appear as shown below:

e-way-bill-system-6

  • You need to enter the following details (compulsory fields are marked with *):
    • State* (Select from a drop-down menu)
    • PAN Number
    • OTP – Once you have entered your “State” and “PAN Number” details, you need to click “Send OTP”. On doing so, an OTP will be sent to your registered mobile number which is linked to your PAN and Aadhar, which you had provided during registration at the e-way bill portal. You need to enter that OTP here
    • Click “Go”
  • As soon as you complete this, your Trans ID will be sent via SMS to your registered mobile number.

With this, you now have the complete information on how to get yourself registered on the e-way bill portal, as well as how to manage, if you forget your User ID / User Name, Password or Trans ID. In our next set of blogs, we will share with you about how to generate e-way bills on the e-way bill portal.

 

How to Register for E-Way Bill for Unregistered Transporters

Register for e-way bill - Unregistered Transporters

How will transporters register for E-way bill

Since you are an unregistered taxpayer, you will not have a GSTIN, using which you may register for e-way bill on the portal. Thus, you will need to use the alternative method of registering, using your business details.

The steps for e-way bill registration for transporters are as follows:

    1. Keep your business details ready with you
    2. Log on to ewaybill.nic.in. The following screen will emerge:

unregister-1

  1. Click on “Enrolment for Transporters”, as shown in the picture above. On doing so, a registration form will appear, which will have some compulsory fields (marked for your reference as *) and some non-compulsory fields. The form will ask you for the following business details:
    • Select you State* (Select from a drop-down menu)
    • Legal Name* (Enter Name as per PAN)
    • Trade Name, if any
    • PAN* – After you enter your PAN No., you will need to click the “Validate” button, which will validate your details, and allow you to fill the other fields.
    • Type of Enrolment* (Warehouse/Depot, Godown, Cold Storage OR Transport Services)
    • Constitution of Business* (Foreign Company, Partnership, Proprietorship, Public Limited, Private Limited, Unlimited OR Others)
    • Particulars of Principal Place of Business
      • Building No. / Flat No.*
      • Floor No.*
      • Name of the Premises / Building*
      • Road / Street*
      • City / Town / Locality / Village*
      • Taluka / Block*
      • District*
      • PIN Code*
      • State*
      • Latitude
      • Longitude
    • Contact Information (the email address and mobile number will be used for authentication)
      • Email Address
      • Telephone Number with STD
      • Fax Number with STD
    • Nature of Premises (Own, Leased, Rented, Consent, Shared OR Others)
    • Do you have Aadhar number of Proprietor or Main person of Company / Firm (Select “Yes” OR “No”)
      • If you select “Yes”, you will need to tick a box, wherein you authorise GSTN to obtain your details from UIDAI for the purpose of verification
      • Aadhar No* (Prop. or Main person of Company / Firm)
      • Name* (As per Aadhar)
      • Mobile No* (As per Aadhar) – Once you enter your Mobile No. you need to click on the “Verify Detail & Send OTP” button, post which an OTP will be sent to your registered mobile number
      • Verify OTP Received from Aadhar* – Once you enter the OTP which you have received, you need to click on the “Verify OTP” button, which will complete the Aadhar verification process
    • Upload
      • Address Proof (Click “Choose file” to browse and then click “Upload”. There is no file format or file size specified, however you can upload either PDF or JPEG)
      • ID Proof (Click “Choose file” to browse and then click “Upload”. There is no file format or file size specified, however you can upload either PDF or JPEG)
    • Login Details
      • User Name*
      • Password*
      • Confirm Password*
    • Verification* – Here, you will need to tick a box, confirming that all the details provided by you are correct and to the best of your knowledge
    • Click “Save”

    unregister-2

  2. Once you submit the form, the e-way bill portal will generate a 15 digit Transporter ID or TRANS ID, along with your user credentials. Now you can provide this 15 digit Transporter ID to your clients, so that when they include that in the e-way bill, you will be able to access the same on the e-way bill portal and enter your vehicle number, for the movement of the consignment. And this is how you will successfully register for e-way bill.

In our next blog, we will guide you on how to manage the situation, in case you forget your User ID (as a registered business) or Transporter ID (as an unregistered transporter) or your Password, and how to retrieve the same, to resume navigation on the e-way bill portal.

 

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