Author: Rishit Shah
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GST Return Effective Date in TallyPrime: 2 Steps + 3 Examples
In TallyPrime, the GST Return Effective Date allows businesses to specify the date from which GST details should be considered for GST returns. This feature ensures that transactions before a particular date are not included in the GST reports, making compliance and tax filing more accurate. 1. Why is the GST Return Effective Date Important?…
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TallyPrime Release 6.0: 5 New Features Explained with Examples
TallyPrime Release 6.0 Beta introduces a suite of advanced features designed to streamline business operations, particularly in banking and financial management. Below is an overview of its key benefits, accompanied by practical examples: 1. Connected Banking in TallyPrime Release 6.0 Benefit: Seamless integration between TallyPrime and your bank accounts. Features: Example: A business owner can…
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Effective Date for Changes to GST Details in Masters in TallyPrime
In TallyPrime, the Effective Date for changes to GST details in masters ensures that modifications in GST-related information, such as GSTIN, tax rates, or registration types, take effect from a specific date without affecting past transactions. This feature helps businesses comply with GST regulations while maintaining accurate financial records. 1. Why Use the Effective Date…
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Reset GST Login in TallyPrime: 4 Easy Steps + Example
If you are unable to log in to the GST portal through TallyPrime due to issues like forgotten credentials, expired sessions, or incorrect configurations, you may need to reset your GST login. Resetting GST login in TallyPrime ensures that you can continue filing GST returns and syncing data with the GST portal without any interruptions.…
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Managing GST Profile in TallyPrime: 6 Steps + 2 Easy Examples
Managing your GST profile in TallyPrime ensures that all GST-related transactions comply with tax regulations. It involves configuring GST details for your business, updating GST rates, and maintaining tax-related records systematically. Step 1: Enable GST in TallyPrime 1. Open TallyPrime 2. Enable GST Press Ctrl + A to Save the settings. Step 2: Configure GST…
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Enable API Access for Connected GST from TallyPrime: 3 Steps
Enabling API access for Connected GST in TallyPrime streamlines your GST compliance by allowing direct interactions with the GSTN portal. This integration facilitates seamless uploading and downloading of returns, enhancing efficiency and accuracy in your GST processes. Here’s a detailed guide to setting up API access: Step 1: Enable API Access on the GST Portal…
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Set Up Connected GST in TallyPrime: 6 Easy Steps + 2 Examples
Setting up Connected GST in TallyPrime involves integrating your TallyPrime software with the GST system for seamless GST filing and compliance. Connected GST allows you to generate GST returns, file them online, reconcile GST data, and ensure compliance with the GST Network (GSTN). 1. Steps to Set Up Connected GST for Your Business in TallyPrime…
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Nature of Transactions for Purchase of Services from SEZ Dealer as SEZ Unit in TallyPrime
When an SEZ unit purchases services from a Regular–SEZ dealer, GST treatment depends on the mode of taxation—either with payment of IGST or under an LUT/Bond without payment of tax. Here’s a detailed breakdown: 1. Nature of Transactions for Purchase of Service from a Regular – SEZ Dealer as a SEZ unit in TallyPrime 2.…
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GST Returns: Purchase of Services from a Regular Dealer as an SEZ Unit in TallyPrime
When a Special Economic Zone (SEZ) unit purchases services from a Regular dealer, these transactions are treated under specific GST provisions. The treatment depends on whether the supply of services is made under payment of IGST or LUT/Bond (without payment of tax). Here’s a detailed explanation: 1. Nature of Transactions for Purchase of Services from…
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Purchase of Goods from a SEZ Dealer as an SEZ Unit in TallyPrime: Sections in GST Returns
Nature of Transactions and Reporting Sections for Purchase of Goods from a Regular – SEZ Dealer as an SEZ Unit in TallyPrime When an SEZ unit purchases goods from a Regular or another SEZ dealer, the transaction falls under the category of zero-rated supply under GST. Below is a detailed explanation of how such transactions…