TALLY GURU A business cannot operate in isolation. It needs a society to operate which is governed by a government which has different types of taxes on a business as it is a commercial activity. Previously Income Tax, VAT, Excise, Customs and Service Tax were taken care of by Tally. Now GST is also included in Tally’s latest version. You can upgrade Tally to have the GST functionality right now. Now you can also create GST entries in Tally as well as GST Returns in Tally without using any other software. The process is simple and easy and almost same as previous taxation entries. If you are covered under Audit as per Income Tax Act, 1961 then there are different functions for that also such as Form 3CD, Form 3CA, 44AB Audit, and Form 3CB and so on. If you have taxation functions enabled then billing is done including taxes on the sales or purchases. At the end of the year or a particular accounting period tax credit or tax payable automatically gets calculated by Tally. Here t...