Sale of Services to SEZ Party as an SEZ unit in TallyPrime: 3 Steps

Recording the sale of services to a regular SEZ party as an SEZ unit in TallyPrime involves configuring GST settings, creating appropriate ledgers, and ensuring compliance with SEZ and GST rules.

This process ensures seamless accounting and compliance with zero-rated supply rules under GST.

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1. Steps to Record Sales of Services to SEZ Party as an SEZ unit in TallyPrime

1. Configure GST in TallyPrime

1. Navigate to Gateway of Tally > F11: Features > Statutory & Taxation.
2. Enable Goods and Services Tax (GST).
3. Enter the SEZ unit’s GSTIN and select the registration type as SEZ.
4. Save the configuration.

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2. Create Ledgers

a. Sales Ledger

1. Go to Accounts Info > Ledgers > Create.
2. Enter the name, e.g., Service Sales (SEZ Party).
3. Group: Sales Accounts.
4. Enable GST: Yes.
5. Set the Nature of Transaction:
   • Export – LUT/Bond (if operating under LUT).
6. Specify the GST rate for the service (e.g., 18%).

b. Party Ledger

1. Navigate to Accounts Info > Ledgers > Create.
2. Name: ABC Enterprises (SEZ party).
3. Group: Sundry Debtors.
4. Enable GST: Yes.
5. Enter the SEZ party’s GSTIN and location.
6. Save the ledger.

c. Tax Ledgers (if required)

Create IGST ledger to record tax on inter-state transactions if not operating under LUT/Bond.

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3. Record the Sales Invoice

1. Go to Gateway of Tally > Vouchers > F8: Sales.
2. Select the Service Sales (SEZ Party) ledger.
3. Choose the SEZ party ledger (e.g., ABC Enterprises).
4. Enter the details of the service provided.
5. Specify the service description, quantity, rate, and amount.
6. Apply GST (if not under LUT/Bond):
   • Select the IGST ledger and calculate based on the applicable rate.
7. Save the voucher.

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2. Example of Sale of Services to SEZ Party as an SEZ unit in TallyPrime

1. Scenario

Your SEZ unit provides software development services worth ₹5,00,000 to ABC Enterprises (an SEZ party). The applicable GST rate is 18%. The transaction is zero-rated as you operate under LUT/Bond.

2. Steps

1. Sales Ledger:
   • Name: Software Services (SEZ).
   • GST Nature of Transaction: Export – LUT/Bond.
   • GST Rate: 18%.
2. Party Ledger:
   • Name: ABC Enterprises.
   • GSTIN: Enter SEZ party’s GSTIN.
   • State: SEZ party’s location.
3. Record Invoice:
   • Select the Software Services (SEZ) ledger.
   • Enter service details: Software development services.
   • Amount: ₹5,00,000.
   • GST:
     • Under LUT/Bond: No GST applied.
     • Without LUT/Bond: IGST of ₹90,000 (18% of ₹5,00,000).

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3. Benefits of Sale of Services to SEZ Party as an SEZ unit in TallyPrime

1. Compliance: Ensures GST rules for SEZ transactions are met.
2. Automation: Simplifies tax filing with proper ledger setup.
3. Flexibility: Handles both LUT/Bond and taxable SEZ supplies.

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4. Conclusion

TallyPrime streamlines the process of recording sales of services to regular SEZ parties by enabling precise ledger management and GST compliance.

By following these steps, you can ensure accurate bookkeeping and compliance with statutory requirements for SEZ transactions.