Search results for: “GST”
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How to Pass GST Payment Voucher in TallyPrime: 8 Easy Steps
Here’s how to pass a GST payment voucher in TallyPrime: 1. Open Vouchers Window: Go to Gateway of Tally > Accounting Vouchers. 2. Choose Payment Voucher: Press F5 or select Payment from the voucher types. 3. Enter Basic Information: 4. Payment Details: 5. Tax Payment Details: 6. Tax Amounts: 7. Optional: Bank Allocations: If using…
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Recording Sales Returns under GST in TallyPrime: 2 Simple Ways
There are two primary methods for recording sales returns under GST in TallyPrime: 1. Using Credit Notes: This is the common method for B2B transactions and intra-state B2C returns within the same GST return period. 1. Create a Credit Note: 2. Set Tax Details: 3. Save and Print: 2. Using Debit Notes (Reverse Sales): This…
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Record Export Sales under GST in TallyPrime: 7 Easy Steps
Recording export sales in TallyPrime involves specific steps to ensure accurate tax information and GST compliance. Here’s a detailed guide: 1. Configure Stock Items: 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Sale Items: 5. Set Tax Details: 6. Optional Configuration: 7. Save and Print: Additional Notes while Recording Export Sales under…
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Sales of Mixed Supply Under GST in TallyPrime: 8 Easy Steps
Recording sales of mixed supply in TallyPrime requires careful attention due to the combined presence of goods and services, each potentially subject to different tax rates. Here’s a detailed guide to help you handle it effectively: 1. Identify Components: 2. Configure Stock Items (if applicable): 3. Create a Sales Voucher: 4. Enter Basic Information: 5.…
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Record Composite Supply under GST in TallyPrime: 9 Easy Steps
Composite supply refers to supplying two or more goods or services bundled together where separating them isn’t feasible in the ordinary course of business. Recording such transactions in TallyPrime requires specific steps to ensure accurate tax calculations and reporting. Here’s a detailed guide: 1. Identify Principal Supply: Determine the main or dominant element of the…
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GST Sales – Different “Ship To” & “Bill To” Addresses in TallyPrime: 2 Ways
For GST sales involving different “Ship To” and “Bill To” addresses, TallyPrime offers flexible approaches to ensure accurate record-keeping and tax calculations. Here are two scenarios and approaches: Scenario 1: Buyer Pays, Consignee Receives (Common Scenario) 1. Create Sales Voucher: Use F8: Sales voucher type. 2. Enter Basic Information: 3. Add Sale Items: Select relevant…
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GST B2C Sales (Small & Large Invoices) in TallyPrime: 2 Easy Steps
TallyPrime differentiates between small and large B2C (Business to Consumer) sales for GST reporting purposes. Here’s how to record them: 1. Identify Threshold for Large Invoices: The current threshold for “large” B2C invoice in India is ₹2.5 Lakhs. Any sale exceeding this amount falls under the “Large B2C Invoices” category. 2. Recording Process: Both small…
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Record Deemed Export GST Sales in TallyPrime: 8 Easy Steps
Recording deemed export sales in TallyPrime involves using the “Deemed Export” nature of transaction while considering any specific state-specific requirements. Here’s a detailed guide: 1. Check Eligibility: Before proceeding, ensure your state is included in the list of states eligible for treating certain sales as deemed exports. Common examples include Delhi, Haryana, Maharashtra, etc. You…
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How to Record Exempt GST Sales in TallyPrime: 6 Easy Steps
Recording exempt GST sales in TallyPrime involves similar steps to recording nil-rated sales, but with slight differences. Here’s a detailed guide: 1. Configure Stock Items: 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Sale Items: 5. Set Tax Details: Crucial Distinction: 6. Save and Print: Additional Notes while Recording GST Exempt Sales…
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How to Record Nil Rated GST Sales in TallyPrime: 6 Easy Steps
Here’s how to create nil-rated GST sales in TallyPrime: 1. Configure Stock Items: 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Sale Items: 5. Set Tax Details: 6. Save and Print: Additional Notes while Recording Nil Rated GST Sales in TallyPrime: Important Tips: By following these steps and tips, you can effectively…