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    Tally Accouting GST PDF

    Uploaded by

    kannnamreddyeswar
    This document provides instructions for implementing GST in Tally.ERP9 software. It explains how to set up GST details for a company, update party GSTIN numbers, create ledgers for CGST, SGST and IGST, handle multi-GST sales transactions, record advance payments and adjust them against invoices, account for tax liability changes, and record purchases from unregistered dealers along with the associated input tax credits. The document is intended to educate users on properly configuring GST functionality within Tally.ERP9.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Tally Accouting GST PDF

    Uploaded by

    kannnamreddyeswar
    598 views35 pages
    This document provides instructions for implementing GST in Tally.ERP9 software. It explains how to set up GST details for a company, update party GSTIN numbers, create ledgers for CGST, SGST and IGST, handle multi-GST sales transactions, record advance payments and adjust them against invoices, account for tax liability changes, and record purchases from unregistered dealers along with the associated input tax credits. The document is intended to educate users on properly configuring GST functionality within Tally.ERP9.

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    tally accouting gst.pdf

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    This document provides instructions for implementing GST in Tally.ERP9 software. It explains how to set up GST details for a company, update party GSTIN numbers, create ledgers for CGST, SGST and IGST, handle multi-GST sales transactions, record advance payments and adjust them against invoices, account for tax liability changes, and record purchases from unregistered dealers along with the associated input tax credits. The document is intended to educate users on properly configuring GST functionality within Tally.ERP9.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    598 views35 pages

    Tally Accouting GST PDF

    Uploaded by

    kannnamreddyeswar
    This document provides instructions for implementing GST in Tally.ERP9 software. It explains how to set up GST details for a company, update party GSTIN numbers, create ledgers for CGST, SGST and IGST, handle multi-GST sales transactions, record advance payments and adjust them against invoices, account for tax liability changes, and record purchases from unregistered dealers along with the associated input tax credits. The document is intended to educate users on properly configuring GST functionality within Tally.ERP9.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 35

    GST IN Tally.

    ERP9
    (Release 6.0.3)
    HELP DOCUMENT

    This help document is specifically developed by CA Punit Mehta & Hiral


    Soni for the purpose of educating audience of “Chamber Of Tax
    Consultant” for implementation of GST in Tally.ERP9
    Download full version Of Release 6.0.3 from
    https://tallysolutions.com/download/

    Click on Download for Later


    Run the downloaded setup as administrator and click on Install.
    When user will open his Release 5 data in Release 6, the above message will
    appear. Click on yes to migrate the data
    Give the File Path for Backup and Accept.
    To applicable GST in your Company
    Go to Gateway of Tally -> F11 -> Statutory and Taxation -> Set alter GST
    details to “Yes”

    The below screen will appear. Select your State -> enter your GST number ->
    set applicable from as 1-jul-2017 -> If You have to set tax rate on company
    wise ( i.e. you have same tax rate on all products ) then set/alter GST rate details
    as yes
    The below screen will appear.
    Set Description of your company -> Set HSN number -> Set Taxability as
    “Taxable” -> Set your Tax Rate in front of Integrated Tax -> Central Tax and
    State Tax will automatically get calculated.
    Updating Party GSTIN/UIN

    Quickly update the GSTIN/UIN details for your parties group-wise from the Update Party GSTIN/UIN
    report. You can also provide this at the individual party ledger level. Use the Import Party GSTIN tool to
    import GSTINs for several parties in one shot.
    To update party GSTIN or UIN
    1. Go to Gateway of Tally > Display > Statutory Reports > GST > Update Party
    GSTIN/UIN.
    2. Select the group and ledger for which you want to update the GSTIN/UIN.
    3. In the Update Party GSTIN/UIN screen, enter the GSTIN/UIN number for each party.
    Click F5 to toggle between Show All and Show Pending.
    Show All: Lists all the parties.
    Show Pending: Lists the parties with missing details, such as country, state, registration type, or
    GSTIN/UIN.
    Once you have updated the GSTIN/UIN for your parties, you can print the GSTIN details in your invoices
    for filing returns.
    Import Party GSTIN
    The Import Party GSTIN add-on helps you update GSTIN details of all parties at once from Microsoft
    Excel. It is very useful if you have the GSTIN information of all parties outside Tally.ERP 9 and want to
    import the information to update the party ledgers in Tally.ERP 9.

    Note: You need to export existing party information to MS Excel using Update Party GSTIN, and
    use this MS Excel file to fill in the GSTINs that you want to import.

    To install the Import Party GSTIN add-on


    Download the Import Party GSTIN add-on from the Add-ons section
    https://tallysolutions.com/download/#GSTIN-addon
    2. In Tally.ERP 9, click F12: Configure > Product & Features > F4: Manage Local TDLs.
    3. In the TDL Configuration screen, set the option Load TDL files on startup to Yes.
    4. Specify the name of the add-on with the folder path containing the add-on in the field List of TDL files to
    preload on startup.

    5. Press Enter to save.

    Import Party GSTIN appears under GST Reports.

    To import party GSTIN details


    1. Go to Display > Statutory Reports > GST > Update Party GSTIN.
    2. Select All Items in the Name of Group and Name of Ledger fields in Select Group screen
    and press Enter. The Update Party GSTIN/UIN screen lists all parties without a GSTIN.
    3. Click Export to export the information in excel format.
    4. Open the exported file, specify GSTIN details for the parties, and save the file.
    5. In Tally.ERP 9, go to Display > Statutory Reports > GST > Import Party GSTIN.
    6. Specify the name of the MS Excel file to be imported with the path in the field Name of the file to be
    imported (Excel).
    7. Specify the name of the sheet containing information in MS Excel file in the field Sheet name.
    8. Press Enter to import.
    When the import is completed, the MS Excel file opens and displays the message Data imported
    successfully.

    Note: Ensure the party names are not altered in the MS Excel file exported from Tally.ERP 9. Also, the
    name of Country, State and Registration Type specified in the MS Excel file must
    match the spellings given in Tally.ERP 9.
    To correct errors in the imported data

    1. Open the MS Excel file and check for a sheet called Errors. If this sheet is there, it means that
    some data was incorrect for some parties and has not been imported into Tally.ERP 9.
    2. Check and make necessary corrections in the Errors sheet. Save the file.
    3. Import the file again, and specify the sheet name as Errors. The corrected information is
    imported this time.
    Ledger Creation Screen of CGST

    Ledger Creation Screen of SGST


    Ledger Creation Screen of IGST

    If your some products have 18% tax rate and some products have 12 % tax rate
    then set rate in stock group level.
    E.g.:- Company Abc & Co is an electronics manufacturer. Abc & Co Company
    sells High Value appliances as well as Low Value appliances. Tax Rate on High
    Value appliances is 18% and on Low Value Appliances is 12%.
    Create a stock group “High Value appliances” -> set alter GST details as yes
    Set your tax rate in Integrated Tax Field.

    Similarly create a stock group of “Low Value appliances “-> set alter GST
    details as yes
    Set your tax rate in Integrated Tax Field. Central Tax and State Tax will
    automatically get calculated.

    Now create Stock Item under High Value Appliances Group as following.
    Set GST Applicable as “Applicable” and select Type of supply.
    Similarly Create a Stock Item under Low Value appliances Group as following.
    Set GST Applicable as “Applicable” and select Type of supply.
    Multi GST Sales Transaction

    CGST and SGST will be calculated as per Tax rate defined in Stock Group.
    Tax Invoice
    Company Abc & Co sells Bata shoes .If Rate of Bata shoe is below 500 then tax
    rate will be 18 % and if Rate of Bata shoe if above 500 then tax rate will be
    28%.
    Create a Stock Item Bata shoe -> Set GST details as “yes”
    Set Calculation type as “On Item Rate”. The Below Screen will appear. Set your
    tax rate accordingly.
    CGST and SGST will be calculated as per tax rate defined in Item Master.
    Tax Invoice
    Receipt Entry for Advance payment.

    Click On Advance Receipt Button or Press Alt+V for the Title.


    Select Stock Item. In case it’s a ledger you can press Alt+L for Show ledgers.

    Entry for Increase of Tax Liability – On Account of Advance Receipts


    [Tax on advance is grouped under current assets]
    Actual Sale transaction in which advance receipt will be adjusted on bill wise
    adjustment screen
    Sales invoice in which advance is adjusted.
    Journal for Decrease of Tax Liability – sales against advance receipts
    Purchase Entry from URD
    Journal for Increase of Tax Liability – for purchase from URD
    Payment of CGST and SGST being a recipient liability
    Journal for Increase of Input Tax Credit – Purchase from URD
    Record a Transaction with Opening VAT / Cenvat Credit Entry

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