Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like GST, and other trade taxes and total liability.
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.
The following GST Ledgers will be created :
i. SGST [ State Tax for both Purchase and Sale within State ]
ii. CGST [ Central Tax for both Purchase and Sale within State ]
iii. IGST [ Integrated Tax for both Purchase and Sale Outside State]
A- Creating SGST (State Goods and Service Tax ) Ledger :
i. To create ‘Input SGST’ ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create
2. In Under, select Duties & Taxes.
3. Select GST as the Type of duty/tax.
4. Select State Tax as the Tax type.
Note : Percentage of Calculation should be 0% ( Don’t Change ) due to multiple Tax Rate
B- Creating CGST (Central Goods and Service Tax ) Ledger :
i. To create ‘Input CGST’ ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create
2. In Under, select Duties & Taxes.
3. Select GST as the Type of duty/tax.
4. Select Central Tax as the Tax type.
Note : Percentage of Calculation should be 0% ( Don’t Change ) due to multiple Tax Rate
C- Creating IGST (Integrated Goods and Service Tax ) Ledger :
i. To create ‘Input IGST’ ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create
2. In Under, select Duties & Taxes.
3. Select GST as the Type of duty/tax.
4. Select Integrated Tax as the Tax type.
Note : Percentage of Calculation should be 0% ( Don’t Change ) due to multiple Tax Rate |