Search results for: “GST”
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Update Party GSTIN/UIN in TallyPrime: 2 Simple Methods
TallyPrime offers two methods to update the GSTIN/UIN (Goods and Services Tax Identification Number/ Unique Identification Number) for your party ledgers (customers and suppliers): Method 1: Updating Individual Ledger Information This approach is suitable when you need to update the GSTIN/UIN for a specific party ledger. Steps: 1. Access Ledger Creation/Alteration: 2. Update GSTIN/UIN: Optional…
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GSTR-3B in TallyPrime: Explained in 3 Easy Parts
While TallyPrime has the capability to generate a GSTR-3B draft, it’s important to understand that the final filing process must be completed on the official GST portal. Here’s a comprehensive breakdown of generating GSTR-3B in TallyPrime and the subsequent steps: Part 1: Generating the GSTR-3B Draft in TallyPrime 1. GST Reports: Access the GSTR-3B report…
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Status Reconciliation (GSTR-2) in TallyPrime: In 5 Easy Steps
While GSTR-2 filing is currently suspended, the “Status Reconciliation” feature in TallyPrime played a critical role when GSTR-2 was active. Here’s a breakdown of Status Reconciliation and how it streamlines compliance processes: 1. The Problem: Data Mismatches 2. What is Status Reconciliation? 3. How it Works 1. Import GSTR-2A: TallyPrime allows you to either download…
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Tablewise GSTR-2 in TallyPrime: Explained in 5 Easy Steps
Here’s a breakdown of the previous explanations, offering more detail on how TallyPrime handles GSTR-2 data, even though filing this return is currently suspended: 1. The Concept of “Table-Wise” in GSTR-2: 2. TallyPrime’s Indirect Approach: 3. Data Extraction Through Reports: 4. Understanding the Mapping 5. Additional Tools: 1. Computation Details (Particulars): This section offers a…
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GSTR-2 Summary of Exceptions in TallyPrime: 5 Easy Steps
While GSTR-2 filing is currently suspended, understanding the “Summary of Exceptions” section in TallyPrime can be valuable for future compliance or preparing for potential future changes. Here’s what you’d typically encounter: 1. Accessing the Summary: 2. Summary Overview: The “Summary of Exceptions” section helps identify any discrepancies or missing information that might prevent transactions from…
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Computation Details of GSTR-2 in TallyPrime: 3 Easy Steps
While the filing of GSTR-2 is currently suspended, understanding the “Computation Details” section of GSTR-2 (should it be reintroduced) is valuable for potential future compliance requirements. Here’s an explanation of what you would find in TallyPrime: 1. What is the Computation Details Section? The “Computation Details” (sometimes called “Particulars”) section in GSTR-2 provides a deeper…
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Return Summary (GSTR-2) in TallyPrime: Explained in 5 Easy Steps
While GSTR-2 filing is currently suspended, understanding the “Return Summary” within TallyPrime can be beneficial for future compliance or preparing for potential future changes. Here’s what you’d encounter: 1. Accessing the Summary: 2. Summary Overview: The Return Summary offers a concise overview of your purchase transactions and related ITC claim for the selected period. It’s…
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GSTR-2 in TallyPrime: Explained in 5 Easy Steps
GSTR-2, also known as the Purchase Return, is a monthly return required to be filed by all registered businesses under the Goods and Services Tax (GST) regime in India. It details all the purchases made by the business during the return period, along with the Input Tax Credit (ITC) claimed on those purchases. While TallyPrime…
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How to Export GSTR-1 in TallyPrime: 4 Easy Steps
Exporting your GSTR-1 draft from TallyPrime allows you to submit it to the GST portal for filing. Here’s a step-by-step guide: 1. Accessing the GSTR-1 Report: 2. Exporting the Draft: 3. Export Configuration: 4. Exporting the File: Additional Notes: Important Tips: By following these steps and considering the additional tips, you can successfully export your…
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Status Reconciliation in GSTR-1 TallyPrime: 6 Easy Steps
In TallyPrime, GSTR-1 Status Reconciliation offers a powerful tool to compare your business records with the data reported in your GSTR-1 form submitted to the GST portal. This helps you identify and address any discrepancies, ensuring data accuracy and compliance. Here’s a detailed breakdown of GSTR-1 Status Reconciliation in TallyPrime: 1. Function: 2. Accessing Reconciliation:…