'Tally 7.2' would address all VAT implementation issues such as offering a single software for states' requirements, configurability to handle differences in legislation and printing of statutory reports, a release said.

"The software would enable the user to generate state specific statutory reports, documents and accounts, which could then be used for filing returns," Bharath Gopalakrishnan, president, Tally Solutions said.

The package would be sold to customers through an extensive channel network of over 25,000 re-sellers in the country, the release said, adding the software was aimed at over eight million establishments in the SME segment.