Purchase of Services from a SEZ Party as SEZ unit in TallyPrime

In TallyPrime, recording the purchase of services from a Regular – SEZ company as an SEZ unit involves steps similar to regular service purchases but includes configurations specific to the GST treatment applicable between SEZ units.

SEZ units enjoy certain tax benefits, and transactions between SEZs may attract GST or be exempt based on regulations.

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1. Steps to Record the Purchase of Services from a SEZ Party as SEZ unit in TallyPrime

1. Configure GST in TallyPrime

1. Enable GST:
   • Go to Gateway of Tally > F11: Features > Statutory & Taxation.
   • Enable Goods and Services Tax (GST).
   • Set the business’s GST Registration Type to SEZ.
   • Enter your GSTIN under company details.
2. Save the configuration.

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2. Create Ledgers

a. Supplier Ledger

1. Navigate to Accounts Info > Ledgers > Create.
2. Name: ABC Services (supplier name).
3. Group: Sundry Creditors.
4. Enable GST: Yes.
5. GST Details:
   • Enter the supplier’s GSTIN.
   • Registration Type: SEZ.
6. Save the ledger.

b. Service Ledger

1. Go to Accounts Info > Ledgers > Create.
2. Name: Consulting Services (SEZ) (or the specific service name).
3. Group: Direct Expenses or Indirect Expenses.
4. Enable GST: Yes.
5. GST Details:
   • Set the Nature of Transaction to Purchases from SEZ.
   • Specify the GST Rate (e.g., 18% for consulting services).
6. Save the ledger.

c. IGST Ledger (if applicable)

1. Create an IGST Ledger:
   • Group: Duties & Taxes.
   • Type of Duty: GST.
   • GST Type: IGST.

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3. Record the Purchase

1. Go to Gateway of Tally > Vouchers > F9: Purchase.
2. Select the ABC Services ledger.
3. Enter the details:
   • Under Particulars, select Consulting Services (SEZ).
   • Enter the service amount.
   • If applicable, IGST will be calculated automatically.
4. Verify the tax components and save the voucher.

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2. Example of Purchase of Services from a SEZ Party as SEZ unit in TallyPrime

1. Scenario

Your SEZ unit procures consulting services worth ₹2,00,000 from ABC Services, a Regular-SEZ company.

The service attracts IGST of 18%.

2. Steps

1. Supplier Ledger:
   • Name: ABC Services.
   • GSTIN: Supplier’s GSTIN.
   • Registration Type: SEZ.
2. Service Ledger:
   • Name: Consulting Services (SEZ).
   • GST Rate: 18%.
3. Voucher Entry:
   • Select Supplier: ABC Services.
   • Service: Consulting Services (SEZ).
   • Amount: ₹2,00,000.
   • IGST: ₹36,000 (auto-calculated).
4. Save the voucher.

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3. Benefits

1. Regulatory Compliance: Properly captures GST details and SEZ-specific exemptions.
2. Audit Readiness: Ensures complete documentation for tax audits.
3. Streamlined Reporting: SEZ-specific reports are easy to generate in TallyPrime.

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4. Conclusion

Recording purchases of services from a Regular-SEZ company in TallyPrime ensures proper compliance with GST and SEZ regulations.

By configuring ledgers appropriately and following structured steps, businesses can maintain accurate records, reduce manual errors, and streamline their accounting processes.