Release Notes for Stat.900 Version 242
Tally.ERP 9 Series A Stat.900 Version 242 Release Notes Updated On: 14/05/2015 Published By: Tally Solutions Pvt. Ltd. The information contained in this document is current as of the date of publication and subject to change. Because Tally must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Tally, and Tally cannot guarantee the accuracy of any information presented after the date of publication. The information provided herein is general, not according to individual circumstances, and is not intended to substitute for informed professional advice. This document is for informational purposes only. TALLY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS DOCUMENT AND SHALL NOT BE LIABLE FOR LOSS OR DAMAGE OF WHATEVER NATURE, ARISING OUT OF, OR IN CONNECTION WITH THE USE OF OR INABILITY TO USE THE CONTENT OF THIS PUBLICATION, AND/OR ANY CONDUCT UNDERTAKEN BY PLACING RELIANCE ON THE CONTENTS OF THIS PUBLICATION. 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Version: Tally.ERP 9 Series A Stat.900 Version 242 Release Notes/May 2015 Release Notes for Stat.900 Version 242 Enhancements .............................................................................................................................................. 1 Payroll ....................................................................................................................................................................... 1 Value Added Tax ...................................................................................................................................................... 1 Jammu & Kashmir ........................................................................................................................................... 1 Maharashtra ................................................................................................................................................... 2 Tamil Nadu ...................................................................................................................................................... 2 Release Notes for Stat.900 Version 241 Enhancements .............................................................................................................................................. 3 Value Added Tax ...................................................................................................................................................... 3 Chandigarh ...................................................................................................................................................... 3 Jharkhand ........................................................................................................................................................ 4 ©Tally Solutions Pvt. Ltd. i Tally.ERP 9 Release Notes for Stat.900 Release Notes for Stat.900 Version 242 Enhancements Payroll In adherence to Budget 2015, the following changes have been supported, effective from 1 April 2015: Revised slab rate of 12% to incorporate the increase in surcharge by 2% on super-rich individuals, whose taxable income exceeds ` 1 Crore. Increase in monthly exemption limit on Transport Allowance from ` 800 to ` 1,600 for Others. ` 1,600 to ` 3,200 for Physically Challenged. Increase in yearly exemption limit on Mediclaim Insurance and Mediclaim Insurance (Dependent) under Section 80D from ` 15,000 to 25,000 for Others. ` 20,000 to 30,000 for Senior Citizens. Increase in yearly exemption limit on Expenditure for Medical Treatment for Handicapped Dependent under Section 80DD from ` 50,000 to ` 75,000 for Others ` 1,00,000 to ` 1,25,000 for Severe Disability Increase in yearly exemption limit for Person with Disability under Section 80U from ` 50,000 to ` 75,000 for Others ` 1,00,000 to ` 1,25,000 for Severe Disability Value Added Tax Jammu & Kashmir In adherence to the state budget, the following VAT/Tax classifications have been provided, effective from 1 April, 2015: Purchases Sales - Zero Rated - Zero Rated (Inter State) Note: Currently, the values of transactions recorded using the aforesaid classifications will be captured in the VAT Computation report. In the forthcoming product releases, the functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms. ©Tally Solutions Pvt. Ltd. 1 Tally.ERP 9 Release Notes for Stat.900 Maharashtra In adherence to the notification, to support the VAT rate of 26% on any other kind of Motor Spirit, the following VAT/Tax classifications have been provided, effective from 1 June, 2012: Input VAT @ 26%/Purchase @ 26% Output VAT @ 26%/Sales @ 26% Note: Currently, the values of transactions recorded using the aforesaid classifications for 26% VAT rate will be captured in the VAT Computation report. In the forthcoming product releases, the functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms. Tamil Nadu In adherence to the state budget, the following VAT/Tax classifications have been provided, effective from 1 April, 2015: Inter-State Works Purchases - Exempted Contract - Exempt Note: Currently, the values of transactions recorded using the aforesaid classifications will be captured in the VAT Computation report. In the forthcoming product releases, the functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms. ©Tally Solutions Pvt. Ltd. 2 Tally.ERP 9 Release Notes for Stat.900 Release Notes for Stat.900 Version 241 Enhancements Value Added Tax Chandigarh In adherence to the notification, to support the new VAT rate of 14.3%on batteries and 9.35% on mobiles, the following VAT/Tax classifications have been provided, effective from 18 April, 2015: Battery CST @ 14.3%/Interstate Sales @ 14.3% Input VAT @ 14.3%/Purchase @ 14.3% Interstate Purchases @ 14.3% Output VAT @ 14.3%/Sales @ 14.3% Output VAT - Works Contract @ 14.3%/Sales-Works Contract @ 14.3% Purchase From URDs - Taxable Goods @ 14.3% Purchases Purchase - Capital Goods @ 14.3% Tax @ 14.3% Purchases - Capital Goods @ 14.3% (Notional) Mobile CST @ 9.35%/Interstate Sales @ 9.35% Input VAT @ 9.35%/Purchase @ 9.35% Interstate Purchases @ 9.35% Output VAT @ 9.35%/Sales @ 9.35% Output VAT - Works Contract @ 9.35%/Sales-Works Contract @ 9.35% Purchase From URDs - Taxable Goods @ 9.35% Purchases Purchase Tax @ 9.35% Purchases - Capital Goods @ 9.35% - Capital Goods @ 9.35% (Notional) The following new VAT/Tax classifications are supported effective from 1 April, 2012: Purchases Sales Against Form - H (Within State) Against Form-H (Within State) Note: Currently, the values of transactions recorded using the aforesaid classifications for VAT rates 14.3%, 9.35%, and the transactions against Form - H will be captured in the VAT Computation report. In the forthcoming product release, the functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms. ©Tally Solutions Pvt. Ltd. 3 Tally.ERP 9 Release Notes for Stat.900 Jharkhand In adherence to the notification, to support the new VAT rate of 2.5% applicable on iron and steel the following VAT/Tax classifications have been provided, effective from 10 April, 2015: CST Input @ 2.5%/Interstate Sales @ 2.5% VAT @ 2.5%/ Purchases @ 2.5% Interstate Purchases @ 2.5% Output VAT @ 2.5%/Sales @ 2.5% Output VAT - Works Contract @ 2.5%/Sales-Work Contract @ 2.5% Purchase From URDs - Taxable Goods @ 2.5% Purchase Tax @ 2.5% Purchases - Capital Goods @ 2.5% Note: Currently, the values of transactions recorded using the aforesaid classifications will be captured in the VAT Computation report. In the forthcoming product release, the functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms. View Release Notes for Stat.900 Versions 240 and earlier ©Tally Solutions Pvt. Ltd. 4 Tally.ERP 9 Release Notes for Stat.900
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