GST Annual Computation: Purchase of Goods from a Regular Dealer as an SEZ Unit in TallyPrime

Here’s an explanation of the natures of transactions and relevant sections in GSTR-1, GSTR-3B, and GST Annual Computation (GSTR-9) for the purchase of goods from a Regular Dealer as an SEZ unit:

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1. Nature of Transactions for Purchase of Goods from a Regular Dealer as an SEZ Unit in TallyPrime

1. Transaction Type: Purchase of goods.
2. Supply Type: Inter-State or Intra-State, depending on the supplier’s location.
3. Taxability:
   • Purchases by SEZ units are considered zero-rated supplies, which means:
     • The supplier can supply goods:
       • With payment of tax: Using IGST.
       • Without payment of tax: Under LUT/Bond.
     • The SEZ unit does not bear GST directly.

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2. Reporting in GSTR-1 (By Supplier) for Purchase of Goods from a Regular Dealer as an SEZ Unit in TallyPrime

Purpose: Outward supplies from the supplier’s perspective.

1. Table 6B: Supplies to SEZ (with payment of tax):
   • For taxable inter-state/intra-state supplies with IGST.
2. Table 6C: Supplies to SEZ without payment of tax:
   • For supplies under LUT/Bond.

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3. Reporting in GSTR-3B for Purchase of Goods from a Regular Dealer as an SEZ Unit in TallyPrime

Purpose: Monthly summary of purchases from the SEZ unit’s perspective.

1. Table 3.1(b): Zero-rated supplies:
   • Captures all zero-rated transactions if applicable.
2. Table 4A: Eligible ITC:
   • If IGST was paid by the supplier and SEZ claims ITC.

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4. Reporting in GST Annual Computation (GSTR-9) for Purchase of Goods from a Regular Dealer as an SEZ Unit in TallyPrime

Purpose: Annual summary of transactions.

1. Table 4: Purchases with IGST Payment:
   • Records purchases with IGST charged by the supplier.
2. Table 5: Purchases under LUT/Bond:
   • Includes zero-rated purchases without GST.

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Example

Scenario 1: With IGST Payment

• Purchase Value: ₹5,00,000.
• IGST Charged: ₹90,000.

Reporting:

• GSTR-1 (Supplier): Table 6B.
• GSTR-3B (SEZ Unit): Table 4A for ITC claim.

Scenario 2: Without IGST (Under LUT)

• Purchase Value: ₹5,00,000.
• IGST Charged: ₹0.

Reporting:

• GSTR-1 (Supplier): Table 6C.
• GSTR-3B (SEZ Unit): No ITC entry.

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5. Steps to Record in TallyPrime

1. Enable GST:
   • Go to F11: Features → GST Settings.
   • Mark as an SEZ unit.
2. Create Ledgers:
   • Purchase Ledger:
     • Group: Purchases.
     • Nature of Transaction: SEZ Purchases (Taxable/Exempt).
   • GST Ledgers:
     • IGST Ledger: Tax under Duties & Taxes.
3. Record Purchase:
   • Use the Purchase Voucher.
   • Specify supplier details, item rates, and tax type.
4. View Reports:
   • Navigate to Display More Reports → GST Reports → GSTR-3B.

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6. Benefits of Proper Reporting in TallyPrime

1. Compliance: Ensures adherence to GST rules for SEZ transactions.
2. Tax Savings: Facilitates zero-tax procurement for SEZ units.
3. Audit Readiness: Maintains accurate records for audits.
4. Streamlined ITC Claims: If IGST is applicable.

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By recording and reporting correctly, SEZ units and their suppliers can ensure GST compliance while benefiting from the zero-rated supply provisions.