Category: Advanced

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…

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…