Category: GST in Tally

In TallyPrime, GSTR-1 data isn’t directly presented in a “table-wise” format within the software itself. However, it captures and organizes transaction details in a way that corresponds to the various tables of the GSTR-1 form. Here’s how it works: 1. Data Mapping: TallyPrime maps your sales and purchase transactions to specific ledgers based on their…

The Challan Reconciliation Report in TallyPrime plays a crucial role in managing GST payment reconciliation for your business. Here’s a detailed explanation of its purpose, key features, and benefits: 1. Purpose for Challan Reconciliation Report in TallyPrime: 2. Key Features for Challan Reconciliation Report in TallyPrime: 1. Comprehensive Data Presentation: 2. Reconciliation Status: 3. Filtering…

The HSN/SAC Summary report in TallyPrime is a vital tool for businesses complying with the Goods and Services Tax (GST) in India. It provides a comprehensive overview of your outward supplies, categorized by the HSN (Harmonized System Nomenclature) or SAC (Services Accounting Code). Here’s an in-depth explanation of its purpose, components, and functionalities: 1. Purpose…

While TallyPrime has the capability to generate a GSTR-3B draft, it’s important to understand that the final filing process must be completed on the official GST portal. Here’s a comprehensive breakdown of generating GSTR-3B in TallyPrime and the subsequent steps: Part 1: Generating the GSTR-3B Draft in TallyPrime 1. GST Reports: Access the GSTR-3B report…

While GSTR-2 filing is currently suspended, the “Status Reconciliation” feature in TallyPrime played a critical role when GSTR-2 was active. Here’s a breakdown of Status Reconciliation and how it streamlines compliance processes: 1. The Problem: Data Mismatches 2. What is Status Reconciliation? 3. How it Works 1. Import GSTR-2A: TallyPrime allows you to either download…

Here’s a breakdown of the previous explanations, offering more detail on how TallyPrime handles GSTR-2 data, even though filing this return is currently suspended: 1. The Concept of “Table-Wise” in GSTR-2: 2. TallyPrime’s Indirect Approach: 3. Data Extraction Through Reports: 4. Understanding the Mapping 5. Additional Tools: 1. Computation Details (Particulars): This section offers a…

While GSTR-2 filing is currently suspended, understanding the “Summary of Exceptions” section in TallyPrime can be valuable for future compliance or preparing for potential future changes. Here’s what you’d typically encounter: 1. Accessing the Summary: 2. Summary Overview: The “Summary of Exceptions” section helps identify any discrepancies or missing information that might prevent transactions from…

While the filing of GSTR-2 is currently suspended, understanding the “Computation Details” section of GSTR-2 (should it be reintroduced) is valuable for potential future compliance requirements. Here’s an explanation of what you would find in TallyPrime: 1. What is the Computation Details Section? The “Computation Details” (sometimes called “Particulars”) section in GSTR-2 provides a deeper…

While GSTR-2 filing is currently suspended, understanding the “Return Summary” within TallyPrime can be beneficial for future compliance or preparing for potential future changes. Here’s what you’d encounter: 1. Accessing the Summary: 2. Summary Overview: The Return Summary offers a concise overview of your purchase transactions and related ITC claim for the selected period. It’s…