GSTR-1 Particulars (Computation Details) in TallyPrime: Explained

Feb 22, 2024

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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:

Table of Contents

1. Outward Supplies:

This section lists all your sales and exports categorized as:

1. Taxable Supplies (within State):

Lists details of taxable sales within your state, including:

Invoice number and date
Customer name
Taxable value
Tax rate (CGST, SGST)
Tax amount (CGST, SGST)

2. Taxable Supplies (Inter-State):

Lists details of taxable sales to other states, including:

Invoice number and date
Place of supply
Taxable value
Tax rate (IGST)
Tax amount (IGST)

3. Zero Rated Supplies:

Lists details of exempt sales within your state, including:

Invoice number and date
Customer name
Taxable value (shown as Nil)

4. Nil Rated Supplies:

Lists details of exports or supplies attracting no GST, including:

Invoice number and date
Place of supply
Taxable value (shown as Nil)

5. Exempt Supplies:

Lists details of supplies not subject to GST, including:

Invoice number and date
Customer name
Taxable value (shown as Nil)

2. Inward Supplies:

This section details your purchases from unregistered dealers, including:

Invoice number and date
Supplier name
Taxable value
Tax rate (CGST, SGST)
Tax amount (CGST, SGST)

3. Adjustments:

This section lists any adjustments made to your tax liability, such as:

Advance tax paid
Late fee (if applicable)
Refund of input tax credit

4. Tax Summary:

This section provides a summarized view of the tax amounts calculated based on the details above, including:

Total taxable value
Total tax liability (CGST, SGST, IGST)
Total input tax credit (CGST, SGST, IGST)
Net tax liability

Benefits of Understanding Particulars (Computation Details):

Enables detailed analysis of individual transactions contributing to your tax liability.
Helps identify any errors or inconsistencies in data before filing the GSTR-1.
Provides support for claiming input tax credit accurately.
Offers additional information for reconciliation with other reports.

Remember: GSTR-1 Particulars (Computation Details) in TallyPrime:

The Particulars (Computation Details) section provides comprehensive information for understanding your GSTR-1 data.
Reviewing this section thoroughly is crucial to ensure accurate tax filing and compliance.
Consulting a qualified accountant can assist with interpreting complex details and ensuring GST regulations are met.

I hope this explanation clarifies the GSTR-1 Particulars (Computation Details) in TallyPrime!

Feel free to ask any further questions you may have.