How to Create GST Sales Entry in TallyPrime: 5 Easy Steps

Jan 27, 2024

—

by

Rishit Shah

in GST in Tally, Intermediate

Here’s a comprehensive guide on creating a GST sales entry in Tally Prime:

Table of Contents

1. Access the Sales Voucher:

Start by navigating to Gateway of Tally.
From there, select Accounting Vouchers > F8: Sales.

2. Enter Basic Sales Information:

Date: Specify the date mentioned on the sales invoice.
Invoice No.: Provide the invoice number you issued to the customer.
Party A/c Name: Select the ledger account of the customer you sold the goods or services to.

3. Add Sales Items:

Choose the relevant sales ledger accounts (e.g., Sales of Goods, Services Rendered) under the Particulars column.
Enter the Quantities and Rates for each item sold.
TallyPrime will automatically calculate the Basic Amount (price before taxes).

4. Specify GST Details:

If the sale is taxable under GST, TallyPrime will prompt you for GST information.
Choose the applicable GST rates (CGST, SGST/UTGST, or IGST) based on the transaction type (intra-state or inter-state).
The software will calculate the tax amounts based on the rates and sales value.

5. Finalize the Voucher:

Select the appropriate Receipt Ledger (e.g., Cash, Bank) if you’ve received the payment.
For credit sales, choose a relevant Outstanding Receivable Ledger (e.g., Debtors).
Press Enter to save the sales voucher.

Additional Considerations while Creating GST Sales Entry in TallyPrime:

Item Invoice Mode: Opt for Item Invoice mode if you’re entering items individually.
Stock Items: For sales involving stock items, ensure they’re correctly set up in the Stock Items master.
Tax Ledgers: Verify that necessary tax ledgers (CGST, SGST/UTGST, IGST) exist in your TallyPrime company.
Advance Payments: If the customer made an advance payment, record it in a separate journal voucher before creating the sales entry.

Bonus Tips while Creating GST Sales Entry in TallyPrime:

Utilize the Narration field to provide additional details about the transaction.
Attach scanned copies of invoices and other relevant documents for better record-keeping.
Regularly reconcile your GST returns with your TallyPrime data for accuracy.

By following these steps and considering the additional tips, you can efficiently create accurate GST sales entries in Tally Prime, ensuring proper management of your sales tax obligations.