GST Return Effective Date for Vouchers in TallyPrime: 3 Examples

1. What is the GST Return Effective Date for Vouchers in TallyPrime?

The GST Return Effective Date for Vouchers in TallyPrime allows businesses to set a specific date from which GST should be applicable to transactions.

This ensures that vouchers created before the effective date do not impact GST returns (GSTR-1, GSTR-3B, and Annual Returns).

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2. Importance of Setting GST Return Effective Date for Vouchers in TallyPrime

• Ensures GST compliance by applying GST only to relevant transactions.
• Excludes vouchers recorded before GST registration or GST applicability.
• Helps businesses transition from Composition to Regular Scheme or vice versa.
• Prevents errors in tax reporting by avoiding incorrect tax calculations.

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3. How to Set GST Return Effective Date for Vouchers in TallyPrime?

Step 1: Open GST Features in TallyPrime

1. Open TallyPrime.
2. Navigate to Gateway of Tally > F11: Features > GST.
3. Enable Goods and Services Tax (GST): Yes.

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Step 2: Set the GST Return Effective Date for Vouchers

1. In the GST Details screen, locate the option GST Return Effective Date.
2. Enter the date from which GST should be considered for vouchers.
3. Press Enter and save the configuration.

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Step 3: Verify the GST Impact on Vouchers

1. Go to Gateway of Tally > Display More Reports > Statutory Reports > GST Reports.
2. Check GSTR-1, GSTR-3B, or GST Computation Report.
3. Ensure that vouchers before the effective date are excluded.

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4. Example Scenarios for GST Return Effective Date in Vouchers

Example 1: New GST Registration

Scenario: A business, ABC Pvt Ltd, started operations on 1st March 2024 but registered for GST on 1st June 2024.

Solution:

• Set GST Return Effective Date as 01-06-2024.
• Vouchers from March to May 2024 will not be considered for GST filing.
• GST will be applied only on vouchers from June 2024 onwards.

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Example 2: Transition from Composition Scheme to Regular GST

Scenario: A company was under the Composition Scheme till 30th June 2024 and shifted to Regular GST from 1st July 2024.

Solution:

• Set GST Return Effective Date as 01-07-2024.
• Sales vouchers before 1st July will be treated as composition sales.
• GST will be applied only to vouchers from July 2024 onwards.

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Example 3: Voluntary GST Registration

Scenario: A company started voluntarily charging GST from 1st September 2024.

Solution:

• Set GST Return Effective Date as 01-09-2024.
• Sales vouchers before 1st September will be excluded from GST reports.
• GST will be applicable only on invoices created from 1st September 2024 onwards.

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5. Impact of GST Return Effective Date on Vouchers in TallyPrime

• Before Effective Date: Vouchers will not be included in GST reports.
• After Effective Date: GST will be calculated and reported as per tax rates.
• Prevents Errors: Ensures correct tax liability and avoids compliance issues.

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6. Verifying the GST Return Effective Date for Vouchers in TallyPrime

• Go to Gateway of Tally > Display More Reports > Statutory Reports > GST Reports.
• Open GSTR-1, GSTR-3B, or GST Computation Report.
• Check whether vouchers before the effective date are excluded.

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7. Conclusion

The GST Return Effective Date for Vouchers in TallyPrime helps businesses ensure that only relevant transactions are included in GST returns.

By setting this date correctly, companies can avoid compliance errors, incorrect tax calculations, and unnecessary penalties.