Author: Rishit Shah

In TallyPrime, recording the purchase of services from a Regular – SEZ company as an SEZ unit involves steps similar to regular service purchases but includes configurations specific to the GST treatment applicable between SEZ units. SEZ units enjoy certain tax benefits, and transactions between SEZs may attract GST or be exempt based on regulations.…

In TallyPrime, recording the purchase of services from a Regular company as an SEZ unit involves precise steps to ensure GST compliance and proper accounting treatment. As SEZ units typically enjoy exemptions, the responsibility for GST often shifts to the supplier, making it crucial to document such transactions accurately. 1. Steps to Record the Purchase…

In TallyPrime, recording the purchase of goods from a Regular-SEZ Party as an SEZ Unit involves specific configurations to ensure compliance with GST regulations. SEZ (Special Economic Zone) businesses are governed by distinct tax rules, which require accurate representation of inter-SEZ transactions. 1. Steps to Record the Purchase of Goods from SEZ Party as an…

In TallyPrime, recording the purchase of goods from a regular company as an SEZ business is essential to track tax compliance, input credits, and accounting accuracy. Although the supplier is liable for the tax, you must document the purchase properly under GST rules. 1. Steps to Record Purchases from a Regular Company as a SEZ…

Recording the sale of services to a regular SEZ party as an SEZ unit in TallyPrime involves configuring GST settings, creating appropriate ledgers, and ensuring compliance with SEZ and GST rules. This process ensures seamless accounting and compliance with zero-rated supply rules under GST. 1. Steps to Record Sales of Services to SEZ Party as…

Recording the sale of services to a regular party as a Special Economic Zone (SEZ) unit in TallyPrime requires specific configurations. The SEZ unit enjoys GST exemptions or zero-rated supplies under the GST framework, but proper documentation and configuration in TallyPrime are essential. 1. Steps to Record Sales of Services as an SEZ Unit in…

In TallyPrime, when an SEZ (Special Economic Zone) dealer sells goods to a regular SEZ party, GST needs to be accounted for correctly to comply with tax laws. This involves setting up the ledger and recording the transaction. Here’s how you can handle this in detail, with examples: 1. Steps to Record SEZ Dealer Sales…

Applying GST details in a service ledger in TallyPrime is crucial for tracking GST compliance and calculating tax for service-based transactions. Below is a step-by-step explanation, along with examples: 1. Steps to Apply GST Details in Service Ledger in TallyPrime 1. Enable GST in TallyPrime 2. Create or Alter the Service Ledger 3. Specify GST…

Updating GST details in party ledgers in TallyPrime ensures compliance with taxation rules and accurate GST return filing. Here’s a detailed explanation with steps and examples: 1. Steps to Update GST Details in Party Ledgers in TallyPrime 1. Enable GST in TallyPrime 2. Access the Party Ledger 3. Update GST Details 4. Validate Transactions with…

Updating the GST rate in GST-ledgers within TallyPrime ensures compliance with the latest tax regulations. This process is straightforward and involves altering the existing ledger details to include the revised GST rates. Here is a detailed explanation, with steps and examples: 1. Steps to Update GST Rate in GST Ledgers in TallyPrime 1. Enable GST…