Author: Rishit Shah

Applying GST rates and HSN/SAC (Harmonized System of Nomenclature/Service Accounting Code) details to sales and purchase ledgers in TallyPrime is essential for accurate GST compliance and reporting. Here’s how to set it up in detail, with multiple examples for better understanding. 1. Steps to Apply GST Rate and HSN/SAC in Sales/Purchase Ledgers in TallyPrime 1.…

Applying GST rates and HSN/SAC (Harmonized System of Nomenclature/Service Accounting Code) details to individual Stock Items in TallyPrime is crucial for businesses that handle diverse goods or services with varying GST rates. This setup allows accurate calculation and compliance with GST regulations. 1. Why Apply GST Rates and HSN/SAC to Stock Items in TallyPrime? 2.…

Applying GST rates and HSN/SAC details to a Stock Group in TallyPrime allows businesses to maintain uniformity across all stock items under that group. It ensures consistency, compliance with GST regulations, and automates GST rate application for transactions involving stock items. 1. Why Apply GST Rates and HSN/SAC to Stock Groups in TallyPrime? 2. Steps…

Applying GST rates and HSN/SAC details to the Accounting Group in TallyPrime ensures consistency and compliance with GST rules for transactions involving multiple ledgers linked to that group. Here’s how to configure these details with examples: 1. Why Apply GST Rates and HSN/SAC to Accounting Groups in TallyPrime? 2. Steps to Apply GST Rates and…

1. Understanding GST Rates and HSN/SAC Codes in TallyPrime 1. GST Rates: These are the tax rates applicable to different goods and services. They can be Central GST (CGST), State GST (SGST), or Integrated GST (IGST). 2. HSN/SAC Codes: These are standardized codes used to classify goods and services for GST purposes. 2. Steps to…

Purchases made by SEZ (Special Economic Zone) companies in TallyPrime are treated distinctly under GST rules due to the benefits SEZ companies enjoy. This process requires proper setup and recording to ensure compliance with GST laws. 1. Understanding Purchases by SEZ Companies in TallyPrime 1. Zero-Rated Purchases: SEZ companies can procure goods and services without…

Supplies by GST SEZ (Special Economic Zone) companies are treated with distinct GST implications due to their tax benefits and compliance requirements. Here’s a comprehensive guide to handling such transactions in TallyPrime: 1. Understanding SEZ Supplies in GST in TallyPrime 1. Zero-Rated Supplies: Supplies to or by SEZ entities are generally zero-rated under GST. This…

1. Understanding SEZ GST in TallyPrime Special Economic Zones (SEZs) in India have specific GST rules and regulations. When setting up TallyPrime for an SEZ unit, it’s crucial to configure the software to accurately handle SEZ-specific transactions. 2. Key Steps for Setting Up TallyPrime for SEZ: 1. Company Creation: 2. Master Data Setup: 3. GST…