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


 
 

GST Setup (Activation) in Tally.ERP9


To use Tally.ERP 9 for GST compliance, you need to activate the GST feature. Once activated, GST-related features are available in ledgers, stock items, and transactions, and GST returns can be generated.

GST Registrations are of two types…

1. GST Regular Scheme ( for Regular Dealer)

The GST regular scheme is for the general taxpayers whose turnover is above the threshold limit.

Under the GST regular scheme, all individuals with turnover above 40 lacs are required to take GST Registration. They are required to pay GST on goods & services as per the applicable rates and do regular GST return filing

2. GST Composition Scheme ( for Composite Dealer)

The composition scheme is meant for small businesses whose turnover of taxable goods not more than 1.5 crores, where GST has to be borne by the seller @1% of such turnover by traders, @2% by manufacturers, 5% for Restaurants & 6% for Service Providers.

A Composition Dealer has to issue Bill of Supply. They cannot issue a Tax Invoice. This is because the tax has to be paid by the dealer out of pocket. A Composition Dealer is not allowed to recover the GST from the customers.

1. Activate GST for Regular Dealers

1.   Open the company for which you need to activate GST.

2.   Press F11 F3 .

Activate GST for Regular Dealers

3.   Enable Goods and Services Tax (GST) Yes .

4.   Set/alter GST details Yes . The GST Details screen appears.

Activate GST for Regular Dealers

5.   State - shows the State name as selected in the Company Creation screen. This helps in identifying local and interstate transactions according to the party's state.

6.   Set the Registration type as Regular .

7.   You can keep the rest default fields as same and don’t change ( but you can change as per your requirements)

2. Activate GST for Composition Dealers

1.   Open the company for which you need to activate GST.

2.   Press F11 F3 .

3.   Enable Goods and Services Tax (GST) Yes .

4.   Set/alter GST details Yes .

5.   The State field helps in identifying local and interstate transactions according to the party's state. If you change the state here, the company details will get updated.

6.   Set the Registration type as Composition .

7.   Based on your business type, select the Basis for tax calculation .

[ For outward supplies, the total of taxable, exempt and nil rated will be considered as the Taxable Value .

For inward supplies, the total value of purchases made under reverse charge will be considered as the Taxable Value . ]

Activate GST for Composition Dealers

You can record transactions using the ledgers with GST details, and print invoices with GSTIN.


Related Topics....

Account Groups in Tally.ERP9

Ledger (Create / Alter / Delete) in Tally.ERP9

GST Setup (Activation) in Tally.ERP9

Creating GST (CGST/SGST/IGST) Ledger in Tally.ERP9

Creating Party Ledger (Sundry Debtor/ Sundry Creditor) in Tally.ERP9

Creating Sales and Purchase Ledgers for GST Compliance in Tally.ERP9

Creating Service Ledger with GST Compliance in Tally.ERP9

Creation of Rounded off (+/-) Ledger for rounding the Invoice Value automatically in Tally.ERP9

Creating Bank Account Ledgers in Tally.ERP9

Creating Expenses and Income Ledgers without GST Compliance in 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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