Author: Rishit Shah

Here’s how to record purchase returns under GST in TallyPrime, considering both local and interstate scenarios: 1. Choose the Right Voucher: 1. Local Purchase Return: Use F9: Purchase voucher and select Debit Note as the voucher type. 2. Interstate Purchase Return: Use F10: Other Vouchers > Interstate Purchase – Works Contract and select Debit Note…

Recording transactions of inward supply from unregistered dealers (URDs) in TallyPrime requires following the reverse charge mechanism (RCM). Here’s how to do it: 1. Configure Stock Items and Party Ledgers: 1. Stock Items: Ensure the stock items purchased from URDs have their Applicable for Reverse Charge option enabled in the stock item master (Gateway of…

Here’s how to record transactions of import of goods under GST in TallyPrime: 1. Configure Stock Items and Party Ledgers: 1. Stock Items: Ensure all imported goods have their Taxability set to Taxable in the stock item master (Gateway of Tally > Create/Alter > Master > Stock Items). 2. Party Ledgers: Set the supplier’s ledger…

Here’s a detailed guide on recording works contract purchases in TallyPrime: 1. Choose the Transaction Type: 2. Create Purchase Voucher: 3. Enter Basic Information: 4. Set Taxability: 5. Add Purchase Details: 6. Specify GST Details: 1. Intra-state Purchases: 2. Inter-state Purchases: 7. Finalize the Voucher: Additional Notes while Recording Works Contract Purchases in TallyPrime: Remember,…

Here’s a step-by-step guide on recording GST SEZ purchases in TallyPrime: 1. Company Registration: 2. Party Ledger Configuration: 3. Create Purchase Voucher: 4. Add Purchase Items: 5. Set GST Details: 1. Local Purchase: 2. Interstate Purchase: 6. Complete the Voucher: Additional Notes while Recording GST SEZ Purchases in TallyPrime: Important Points to Remember: By following…

Recording GST exempt purchases in TallyPrime requires setting up your purchase ledgers and vouchers correctly. Here’s a detailed guide: 1. Configure Purchase Ledgers: 2. Create a Purchase Voucher: 3. Add Purchase Items: 4. Set Tax Information: 5. Complete the Voucher: Additional Notes while Recording Exempt GST Purchases in TallyPrime: Important Points for GST Exempt Purchases…

Here’s how to record nil-rated GST purchases in TallyPrime: 1. Open a Purchase Voucher: 2. Enter Basic Information: 3. Add Purchase Items: 4. Set Tax Information: 5. Complete the Voucher: Additional Notes while recording Nil Rated Purchases in TallyPrime: By following these steps, you can accurately record nil-rated GST purchases in TallyPrime, ensuring transparency and…

Updating GST for income and expense ledgers in TallyPrime involves customizing their taxability settings and ensuring they properly reflect your business’s GST obligations. Here’s a guide for both individual and bulk updates: 1. Updating Individual Income and Expense Ledgers: 2. Bulk Updating Income and Expense Ledgers: Additional Tips while Updating GST for Income & Expenses…

There are two primary ways to update party ledgers for GST in TallyPrime, depending on whether you want to update information for individual parties or in bulk: 1. Updating Individual Party Ledgers: 2. Updating Party Ledgers in Bulk: Additional Tips while Configuring Party Ledgers for GST in TallyPrime: By following these steps and incorporating the…