Search results for: “GST”
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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:…
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Summary of Exceptions in GSTR-1 in TallyPrime: 8 Easy Steps
In GSTR-1, exceptions refer to any discrepancies or missing information that prevent a transaction from being included in the final return. TallyPrime helps identify these exceptions and guides you through resolving them before filing. Here’s a summary of the most common exceptions you might encounter: 1. Information Required for Generating Table-Wise Details Not Provided: 2.…
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GSTR-1 Particulars (Computation Details) in TallyPrime: Explained
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: 1. Outward Supplies: This section lists all…
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Returns Summary – GSTR-1 in TallyPrime: Explained in 6 Steps
The Returns Summary section in GSTR-1 of TallyPrime offers a concise overview of the details included in your GSTR-1 draft return. It’s a quick way to check key figures and ensure everything looks accurate before submitting your return to the GST portal. Here’s a breakdown of what you’ll find in the Returns Summary: 1. Return…
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How to View GSTR-1 in TallyPrime: 2 Easy & Simple Ways
There are two primary ways to view GSTR-1 in TallyPrime: 1. Viewing the Prepared Draft: 2. Viewing the Submitted Return: Additional Notes on How to View GSTR-1 in TallyPrime: Important Tips: Remember, accurate GSTR-1 filing is crucial for GST compliance. Utilizing TallyPrime’s GSTR-1 viewing capabilities and seeking professional advice can help ensure smooth filing and…
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Journal Voucher for Refund of Tax Credit under GST in TallyPrime: 2 Ways
There are two primary scenarios for recording a journal voucher for a GST tax credit refund in TallyPrime: 1. Refund Received from Government: This scenario applies when you receive a direct refund from the government authorities following a successful claim. 1. Create Journal Voucher: Go to Gateway of Tally > Accounting Vouchers > F7: Journal.…
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Journal Voucher for TCS Adjustment in GST in TallyPrime: 2 Ways
Recording a Journal Voucher for TCS Adjustment in TallyPrime involves specific steps depending on the nature of the adjustment. Here’s a breakdown of two common scenarios: Scenario 1: Claiming Additional TCS Credit: 1. Identify Additional Credit: This occurs when you discover previously unclaimed TCS credit applicable to your purchases. 2. Create Journal Voucher: 3. Tax…
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Journal Voucher for TDS Adjustment in GST in TallyPrime: 2 Ways
Recording a Journal Voucher for TDS Adjustment in GST in TallyPrime involves specific steps depending on the nature of the adjustment. Here’s a breakdown of two common scenarios: Scenario 1: Claiming Additional TDS Credit: 1. Identify Additional Credit: This scenario occurs when you discover previously unclaimed TDS deductions applicable to your business. 2. Create Journal…
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Journal Vouchers for Adjustments Against Tax Credit under GST in TallyPrime
There are several scenarios where you might need to record journal vouchers for adjustments against tax credit under GST in TallyPrime. Here’s a detailed guide to navigate those situations: 1. Identifying the Need for Adjustment: Before making any adjustments, understand the reason for the correction. Common scenarios include: 1. Erroneous credit claimed: You mistakenly claimed…
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Advance Receipts from Customer under GST in TallyPrime: 7 Steps
Recording an advance receipt from a customer under GST in TallyPrime involves specific steps to ensure accurate tax treatment and reporting. Here’s how to do it: 1. Identify Advance Type: 1. Regular Advance: Received before any supply of goods or services. 2. Advance for Specific Supply: Received against a confirmed order for specific goods or…