Category: GST in Tally

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…

Setting up GST Service Ledgers in Tally Prime ensures accurate tax calculations and reporting for services your business provides. Here’s a detailed guide: 1. Accessing the Ledger Creation Menu: 2. Specifying Ledger Type: 3. Choosing the Ledger Name: 4. Entering Ledger Details: 5. Setting GST Details: 6. Configure Taxability: 7. Additional Options: 8. Saving and…

Setting GST rates in Tally Prime requires two main steps: configuring the Tax Rate Setup and applying those rates to your Stock Items and Stock Groups. Here’s a detailed guide: 1. Accessing the Tax Rate Setup: 2. Choosing the Master List: 3. Selecting Masters and Setting Rates: 4. Additional Options: 5. Saving and Verification: Bonus…

Configuring stock groups for GST in TallyPrime is similar to configuring individual stock items but with some additional points to consider. Here’s a guide to help you: 1. Access the Stock Groups Master: 2. Open or Create a Stock Group: 3. Configure GST Details: 4. Setting GST Rates: 5. H/S Code Tracking: 6. Taxability of…

Accurately configuring your stock items for GST in Tally Prime is crucial for ensuring smooth tax calculations and reporting. Here’s a detailed guide to help you: 1. Enable GST and Set Taxability: 2. Access the Stock Items Master: 3. Configure Individual Stock Items: 4. Set GST Rates: 5. Additional Configurations (Optional): 1. H/S Code Tracking:…