Activate GST for Company, Registered & Compostion Dealer

To use TallyPrime 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.

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

To account for the different taxes to be paid under GST (central tax, state tax, union territory tax, integrated tax, and cess), you have to create a tax ledger for each tax type.

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Creating CGST, SGST, IGST Ledger

Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like GST, and other trade taxes and total liability.

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Creating a Sales Ledger: Sales-GST/IGST (both for Local & Outside State)

If you sell items with multiple tax rates, you can still maintain a single Sales Ledger for both within and outside State Sales, and record all GST details at the stock item or stock group level.

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Creating a Sales Ledger: Sales-GST/IGST (both for Local & Outside State)

If you sell items with multiple tax rates, you can still maintain a single Sales Ledger for both within and outside State Sales, and record all GST details at the stock item or stock group level. You can create a single Purchase Ledger both for within as well as outside State Purchase.

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Service Ledgers has to be created with GST Rate ( as applicable)

In case of Service oriented Business like…Chartered Accountant, Lawyer, Advertising Agency, Consultant, Architectures etc.. they provide Service to the customer and provide Bill / Invoice with GST Compliance.

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Creating Service Ledger with GST Details which taxable during voucher entry.

In case of Service oriented Business like…Chartered Accountant, Lawyer, Advertising Agency, Consultant, Architectures etc.. they provide Service to the customer and provide Bill / Invoice with GST Compliance. So in this case, TallyPrime provides Accounting Invoice with auto GST Calculations, provided all Service Ledgers has to be created with GST Rate ( as applicable).

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

You need to create party ledgers to record transactions that you make, which may involve Sales , Purchase, Receipts or Payments, or Sales or Purchase from these parties.

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Creating Customer & Supplier Account

A business deals with customers, wholesalers, retailers, Suppliers and many such business parties on a day-to-day basis. You need to create party ledgers to record transactions that you make, which may involve Sales , Purchase, Receipts or Payments, or Sales or Purchase from these parties.

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Sale of Goods and Services in a Single Invoice with multiple GST Rate in Tally.ERP9

You can record the sales of both goods and services in the same invoice by selecting the required sales ledger and GST ledgers (state tax and central tax for local sales; integrated tax for interstate sales).

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Invoice having both Goods & Services with different GST Rate

You can record the sales of both goods and services in the same invoice by selecting the required sales ledger and GST ledgers (state tax and central tax for local sales; integrated tax for interstate sales)

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Sale of Items and Goods with Inclusive of GST Tax Rate in Tally.ERP9

When defining the price of the item you can include the tax rate. This inclusive Tax Rate can assign during sale under two ways.. 1. Permanently at the time of Creating a Stock Items, 2.  In Sale Invoice, selecting the option – Allow inclusive of tax for stock items to YES in F12: Configuration.

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GST on Advance Received from Customer if Turnover is more than Rs. 1.5 Crores

You need to pay GST for any advance received from Customer for supply of goods or services, if the supply is not fulfilled in the same period. Provided the Turnover of your business is over and above Rs. 1.5 Crores.

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

GST on Reverse Charge is levied if there is intra State supply of goods or services or both by an unregistered supplier to a registered person and the value exceed Rs 5000 in a day.

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

Composite supply means a supply is comprising two or more goods/services, which are naturally bundled and supplied in with each other in the ordinary course of business, one of which is a principal supply. The items cannot be supplied separately.

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Sales of Composite Supply under GST (Expenses Apportioning).

Composite supply means a supply is comprising two or more goods/services, which are naturally bundled and supplied in with each other in the ordinary course of business, one of which is a principal supply. The items cannot be supplied separately.

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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. 

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Sale of Nil-Rated & Exempted Items with its Setting in TallyPrime

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.

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Purchase of Capital Goods with GST in Purchase Voucher (F9) in Tally.ERP9

Purchase of capital goods are recorded as fixed assets and is taxable. Input tax credit can be availed. You can record taxable purchases of fixed assets (capital goods).

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Record Expenses having GST in Purchase Voucher (F9) of Accounting Invoice mode in Tally.ERP9

A business may incur day-to-day expenses such as rent, telephone bills, Internet Bill, stationery, petty-cash expenses, and so on, to carry out the operations. These expenses attract GST and you are eligible to claim the Input Tax Credit.

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