Category: GST in Tally
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GST B2C Sales (Small & Large Invoices) in TallyPrime: 2 Easy Steps
TallyPrime differentiates between small and large B2C (Business to Consumer) sales for GST reporting purposes. Here’s how to record them: 1. Identify Threshold for Large Invoices: The current threshold for “large” B2C invoice in India is ₹2.5 Lakhs. Any sale exceeding this amount falls under the “Large B2C Invoices” category. 2. Recording Process: Both small…
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Record Deemed Export GST Sales in TallyPrime: 8 Easy Steps
Recording deemed export sales in TallyPrime involves using the “Deemed Export” nature of transaction while considering any specific state-specific requirements. Here’s a detailed guide: 1. Check Eligibility: Before proceeding, ensure your state is included in the list of states eligible for treating certain sales as deemed exports. Common examples include Delhi, Haryana, Maharashtra, etc. You…
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How to Record Exempt GST Sales in TallyPrime: 6 Easy Steps
Recording exempt GST sales in TallyPrime involves similar steps to recording nil-rated sales, but with slight differences. Here’s a detailed guide: 1. Configure Stock Items: 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Sale Items: 5. Set Tax Details: Crucial Distinction: 6. Save and Print: Additional Notes while Recording GST Exempt Sales…
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How to Record Nil Rated GST Sales in TallyPrime: 6 Easy Steps
Here’s how to create nil-rated GST sales in TallyPrime: 1. Configure Stock Items: 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Sale Items: 5. Set Tax Details: 6. Save and Print: Additional Notes while Recording Nil Rated GST Sales in TallyPrime: Important Tips: By following these steps and tips, you can effectively…
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Configure Voucher Numbering for GST in TallyPrime: 3 Easy Ways
TallyPrime offers flexible options for configuring voucher numbering for GST transactions. Here’s a breakdown of different approaches and considerations: 1. Automatic Numbering: 2. Manual Numbering: 3. Customized Numbering Series: 4. Configuration Steps: Additional Tips while Configuring Voucher Numbers for GST in TallyPrime: By understanding these options and carefully configuring voucher numbering, you can ensure it…
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Record GST Sales & Print Invoices in TallyPrime: 6 Easy Steps
Recording outward supply and printing invoices in TallyPrime involves capturing the sale, calculating GST, and generating a professional invoice for your customer. Here’s a detailed guide: 1. Create a Sales Voucher: 2. Enter Basic Information: 3. Add Sale Items: 4. Set Tax Details: 5. Configure Printing Options (Optional): 6. Save and Print: Additional Notes to…
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How to Record Purchase Returns in TallyPrime: 5 Easy Steps
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…
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Inward Supply of Goods & Services (Reverse Charge Mechanism) in TallyPrime
Here’s a detailed guide on recording inward supply of goods and services under the reverse charge mechanism (RCM) in TallyPrime: 1. Configuration: a) Stock Items: b) Party Ledgers: 2. Create Purchase Voucher: 3. Enter Basic Information: 4. Add Purchase Details: 5. Activate Reverse Charge: 6. Calculate and Specify GST: 7. Complete the Voucher: Additional Notes…
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Inward Supply from Unregistered Dealers in TallyPrime: 7 Easy Steps
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…
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Import of Goods under GST in TallyPrime: 7 Simple Steps
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…