Month: March 2024
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Purchase from URD: Reverse Charge Liability Report in TallyPrime
This report in TallyPrime specifically assists businesses with understanding and managing their reverse charge liability arising from purchases made from unregistered dealers (URDs) under GST. Here’s a breakdown of the report’s purpose and functionalities: 1. Understanding Reverse Charge: 2. Key Features of the Report: 1. Filtering and Threshold: 2. Transaction Details: 3. Tax Liability Summary:…
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GSTR-3B in TallyPrime: Explained in 3 Easy Parts
While TallyPrime has the capability to generate a GSTR-3B draft, it’s important to understand that the final filing process must be completed on the official GST portal. Here’s a comprehensive breakdown of generating GSTR-3B in TallyPrime and the subsequent steps: Part 1: Generating the GSTR-3B Draft in TallyPrime 1. GST Reports: Access the GSTR-3B report…
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Status Reconciliation (GSTR-2) in TallyPrime: In 5 Easy Steps
While GSTR-2 filing is currently suspended, the “Status Reconciliation” feature in TallyPrime played a critical role when GSTR-2 was active. Here’s a breakdown of Status Reconciliation and how it streamlines compliance processes: 1. The Problem: Data Mismatches 2. What is Status Reconciliation? 3. How it Works 1. Import GSTR-2A: TallyPrime allows you to either download…