Tally.ERP9 Book (Advanced Usage) @ Rs.550


 
 

Sale of Nil-Rated GST, GST Exempted Supplies of Items and Goods using Tally.ERP9

With the introduction of GST, the goods and services have been classified into Nil Rated, Exempted, Zero Rated and Non-GST supplies. The Purchase or Sales of these goods to a local or interstate customer does not attract GST, and can be recorded using a Purchase / Sales voucher.  Let us take a look at what distinguishes each of them with some examples:

Supply

GST Applicable

Type of Supply

Eligibility for ITC

Examples

Nil Rated

0%

Everyday items

No

Grains, Salt, Jaggery, etc.

Exempted

-

Basic essentials

No

Bread, Fresh fruits, Fresh milk, Curd, etc.

Zero Rated

0%

Overseas supplies, Supply to Special Economic Zones (SEZ) or SEZ Developers

Yes

-

Non-GST

-

Supplies for which GST is not applicable but can attract other taxes

No

Petrol, Alcohol, etc.

 

In case of above Items and Goods , the option Nil Rated / Exempt has to be selected as the Taxability in the GST Details screen of the item or  item group master.

Stock items are goods that you manufacture or trade (sell and purchase). It is the primary inventory entity. Stock Items in the Inventory transactions are similar to ledgers being used in accounting transactions.

1.            Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Single Stock Item ).

Stock Item in TallyERP9

2.            Enter the Name of the Stock Item.

3.            Enter the Alias name of Stock Item (if required).

4.            The field Under will show the List of Groups . Here you can select the Stock Group to which the Stock Item belongs. By default, Primary Stock Group appears in this field.

Note: You can create a new stock Group by pressing Alt+C at this field.

5.            This field will show the Unit List . Here you can select the Unit of measure (UoM) applicable for the stock item. By default, Not Applicable appears in this field.

Note: You can create a new UoM by pressing Alt+C at this field. For stock items without UoM, the cursor will not move to the Quantity field during voucher entry.

Setting Nil-Rated & Exempted items and Goods :

Setting Nil-Rated , Exempted, Zero Rated Stock Items in TallyERP9

Do it ... Yourself !

Do it … Yourself !

Swayam Sales deals the following Nil-Rated / Exempted Items and goods which purchased and sold in his business. Create the following Items as details given.

Name of Items

Unit of Measurement

Taxability of GST

Moong Dal

(Unit is Kg. with Decimal 3)

with Nil Rated GST

Salt

(Unit is Kg. with Decimal 3)

with Nil Rated GST

Bread

( Unit is Pcs.)

with Exempt GST

Fruits

( Unit is Kg. with Decimal 3)

with Exempt GST

 

 

Transactions:
Sold the following items in Cash which are Nil Rated and Exempted

Name of items

Quantity

Rate

Value

Moong Dal

50 Kg.

100

5000

Salt

20 kg.

30

600

Bread

48 Pcs.

25

1200

Fruits

10 Kg.

125

1250

 

Sale Invoice of above goods are given below :

Sale of Nil-Rated, Exempted, Supplies using Tally.ERP9

To see the Tax Analysis (Alt+A) with Details (Alt+F1) of the above invoice :

Sale of Nil-Rated, Exempted, Supplies using Tally.ERP9

 

Related topics ....

GST on Advance Received from Customer in TallyERP9

GST on Reverse Charge Mechanism -RCM (Purchase from Unregistered Dealer) using TallyERP9

GST Sale of a Composite Supply (Sale of Items & Goods with Expenses Apportioning) in Tally.ERP9

Setting MRP details in Stock Items with GST using Tally.ERP9

Setting Nil-Rated, Exempted, Zero-Rated & Non-GST Items & Goods using Tally.ERP9

GST Annual Computation Report to file GSTR-9 using TallyERP9

Record Expenses with GST in Purchase Voucher (F9) in Tally.ERP9

Year-end Processing with Data Transfer to Next Financial Year in TallyERP9

Shortcut Keys in TallyERP9

GST on Advance Received from Customer in TallyERP9

GST on Reverse Charge Mechanism -RCM (Purchase from Unregistered Dealer) using TallyERP9

GST Sale of a Composite Supply (Sale of Items & Goods with Expenses Apportioning) in Tally.ERP9

GSTR-1 Report to File GST Return using Tally.Erp9

GSTR-2 Report to File GST Return using Tally.Erp9

GSTR-3B Report to File GST Return using Tally.Erp9


 

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18 Chapters in Tally.ERP9 Book + 46 Practical Assignment with GST in Tally.ERP9 & All features are described with Practical Problems with Solutions.

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Tally.ERP9 Book (Advanced Usage) @ Rs.550


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