Chartered Accountant community plays important role in the growth of accounting software companies; Tally Solutions too is no exception to it. From its beginning to becoming a giant, CAs have been its best partners. A large part of its business comes from the recommendation of CAs is known to all. One could hardly imagine that someday Tally would betray its most trusted partners and speak openly against them.
GST law is supposed to come into force from July 2017. It is completely different from existing tax structure. Replacing more than a dozen taxes by CGST, SGST and IGST and establishing uniform tax system across the country, it is undoubtedly biggest tax reform ever since the independence. The turnover limit to be eligible to register under GST is 10 lakh in the northeast and 20 lakh in rest of the country. Around 2 crore new registrations are expected under new taxation law in coming a few years. Moreover, 80 lakh taxpayers who are already registered under existing law will also get registered for GST. It creates a huge market opportunity for accounting software companies.
To make GST implementation easy, the government has made 34 companies GSP (GST Suvidha Provider). The GSP helps taxpayers in registration and filing of taxes. Tally is also one of them. Being a GSP, Tally has got direct access to customers and it no more needs the help of CA community. As a result of which they are openly saying taxpayers not to trust CAs and get rid of them.