Category: Intermediate

In GSTR-1, exceptions refer to any discrepancies or missing information that prevent a transaction from being included in the final return. TallyPrime helps identify these exceptions and guides you through resolving them before filing. Here’s a summary of the most common exceptions you might encounter: 1. Information Required for Generating Table-Wise Details Not Provided: 2.…

The GSTR-1 Particulars (Computation Details) section in TallyPrime provides a deeper dive into the data used to calculate your tax liability in the GSTR-1 return. This section offers detailed information on each transaction included in the return, helping you analyze and verify its accuracy. Here’s what you’ll find: 1. Outward Supplies: This section lists all…

The Returns Summary section in GSTR-1 of TallyPrime offers a concise overview of the details included in your GSTR-1 draft return. It’s a quick way to check key figures and ensure everything looks accurate before submitting your return to the GST portal. Here’s a breakdown of what you’ll find in the Returns Summary: 1. Return…

Recording export sales in TallyPrime involves specific steps to ensure accurate tax information and GST compliance. 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: 6. Optional Configuration: 7. Save and Print: Additional Notes while Recording Export Sales under…

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…

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…

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…

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…

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…

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…