GST with Various Dealers in Tally Prime

Deepika Pvt Ltd
ADDRESS	179, 2nd St, Gandhipuram, Avarampalayam, Coimbatore, Tamil Nadu 641006
MOBILE NO	985746250
EMAIL	deepikacoimbatore@gmail.com
WEBSITE	Deepikapvtltdcoimbotore.in
GSTIN NO	33XXXXXXXXXX1ZY
PANCARD NO	XXXXXXXXXX

Purchase from Composition Dealer

01-07-23 Deepika Pvt Ltd purchased the following goods from Chandru Traders, Tamil Nadu, who is a composition dealer, with the supplier invoice number 001.

PARTY LEDGER
Name	Chandru Traders
GST Details
Registration Type	Composition
GSTIN/UIN	33XXXXXXXXXX1ZA
PAN	XXXXXXXXXX

Stock Item Create

COMPUTER
Name	MS Printer
Under	Primary
Units	Nos
GST Applicable	Applicable
Set/alter GST Details	Yes
Description	MS Printer
HSN/SAC	8443310

TAX DETAILS
Calculation type	On value
Taxability	Taxable
Integrated Tax	18%
Type of Supply	Goods

Purchase from Unregistered Dealers

02-07-23 Deepika Pvt Ltd have purchased the following goods from Bhuvana & Co Tamil Nadu, who is an unregistered dealer, with the supplier invoice number 002.

Item	Qty	Rate
MS Printer	5 Nos	6100

Bhuvana &co
Name	Bhuvana & Co
Under	Sundry Creditor
Registration Type	Unregistered

Recording the journal voucher to Generate liability and input tax credit.

The unregistered dealer can’t collect tax, when a registered dealer purchases from an unregistered dealer, he raises the liability on behalf of the unregistered dealer and pay the tax to the department. The registered dealer can then claim ITC for the tax paid.

04-07-23 Made a payment of Rs. 2745 against the purchases invoice 002 through Indian Bank.

Company Creation

Open Tally Prime:
- Launch Tally Prime on your computer.
Access Company Creation Screen:
- From the Gateway of Tally, press Alt + F3 to open the company creation screen.
Enter Company Details:
- Enter the following details in the respective fields:
- Company Name: Deepika Pvt Ltd
- Address: 179, 2nd St, Gandhipuram, Avarampalayam, Coimbatore, Tamil Nadu 641006
- Mobile No: 985746250
- Email: deepikacoimbatore@gmail.com
- Website: Deepikapvtltdcoimbotore.in
Enable GST:
- Scroll down to the option "Enable Goods and Services Tax (GST)" and set it to "Yes".
Save and Exit:
- Once all the details are entered correctly, press Enter to save the company creation details.
- Confirm the creation of the company by selecting "Yes" when prompted.
- You have successfully created the company "Deepika Pvt Ltd" with GST enabled in Tally Prime.

01-07-23 Deepika Pvt Ltd purchased the following goods from Chandru Traders, Tamil Nadu, who is a composition dealer, with the supplier invoice number 001.

Item	Qty	Rate
MS Printer	10 Nos	6000

Purchase Voucher Creation

Access Purchase Voucher:
- From the Gateway of Tally, navigate to "Accounting Vouchers" and select "F9: Purchase" voucher.
Enter Purchase Details:
- Set the voucher date to 01-07-23.
- Enter the supplier invoice number as "001".
Select Party Ledger:
- Choose "Chandru Traders" as the party ledger.
GST Details:
- Since Chandru Traders is a composition dealer, GST details are not applicable for this transaction.
Item Details:
- Under "Name of Item", select "MS Printer" from the stock items list.
- Enter the quantity as "10 Nos" and the rate as "6000".
Review and Save:
- Review the voucher to ensure all details are entered correctly.
- Press Ctrl + A to save the purchase voucher.

Purchase from Unregistered Dealers

02-07-23 Deepika Pvt Ltd have purchased the following goods from Bhuvana & Co Tamil Nadu, who is an unregistered dealer, with the supplier invoice number 002.

Item	Qty	Rate
MS Printer	5 Nos	6100

Purchase Voucher Creation

Access Purchase Voucher:
- From the Gateway of Tally, navigate to "Accounting Vouchers" and select "F9: Purchase" voucher.
Enter Purchase Details:
- Set the voucher date to 02-07-23.
- Enter the supplier invoice number as "002".
Select Party Ledger:
- Choose "Bhuvana & Co" as the party ledger.
GST Details:
- Since Bhuvana & Co is an unregistered dealer, GST details are not applicable for this transaction.
Item Details:
- Under "Name of Item", select "MS Printer" from the stock items list.
- Enter the quantity as "5 Nos" and the rate as "6100".
Review and Save:
- Review the voucher to ensure all details are entered correctly.
- Press Ctrl + A to save the purchase voucher.

Reports

Gateway of Taly -> Display More Reports -> GST Reports

Adjustment for Increase Liability

Access Journal Voucher:
- From the Gateway of Tally, navigate to "Accounting Vouchers" and select "F7: Journal" voucher.
Enter Details:
- Set the voucher date according to the transaction date.
- Optionally, provide a narration to describe the transaction.
GST Details:
- Specify the type of duty/tax as "GST".
- Choose "Increase in tax Liability" as the nature of adjustment.
- Select "Purchase from Unregistered Dealer" as the additional nature of adjustment.
Enter Debit Entries:
- Debit CGST and SGST accounts with the amount of CGST and SGST to be increased.
- CGST: 2745
- SGST: 2745
Enter Credit Entries:
- Credit CGST and SGST accounts with the same amounts as debited.
- CGST: 2745
- SGST: 2745
Review and Save:
- Review the journal voucher to ensure accuracy.
- Press Ctrl + A to save the journal voucher.

Increase Input Tax Credit

Access Journal Voucher:
- From the Gateway of Tally, navigate to "Accounting Vouchers" and select "F7: Journal" voucher.
Enter Details:
- Set the voucher date according to the transaction date.
- Optionally, provide a narration to describe the transaction.
GST Details:
- Specify the type of duty/tax as "GST".
- Choose "Increase in Input Tax Credit" as the nature of adjustment.
- Select "Purchase from Unregistered Dealer" as the additional nature of adjustment.
Enter Debit Entries:
- Debit CGST and SGST accounts with the amount of CGST and SGST to be increased.
- CGST: 2745
- SGST: 2745
Enter Credit Entries:
- Credit CGST and SGST accounts with the same amounts as debited.
- CGST: 2745
- SGST: 2745
Review and Save:
- Review the journal voucher to ensure accuracy.
- Press Ctrl + A to save the journal voucher.

04-07-23 Made a payment of Rs. 2745 against the tax invoice 002 through Indian Bank.

Access Payment Voucher:
- From the Gateway of Tally, navigate to "Accounting Vouchers" and select "F5: Payment" voucher.
Enter Details:
- Set the voucher date to 4-Jul-23.
- Optionally, provide a narration to describe the transaction.
Payment Type:
- Select "State Payment" as the type of transaction.
- Choose "GST" as the tax type.
- Specify "Tax (Reverse Charge)" as the type of payment.
Period From:
- Enter the period from 1-Jul-23 to 31-Jul-23.
Particulars:
- Debit the CGST and SGST accounts with the amounts.
- CGST: 2745
- SGST: 2745
Bank Details:
- Mode of Payment: NEFT/RTGS
- Name of the Bank: Indian Bank
- BRN/UTR: IDBI123456
Review and Save:
- Review the payment voucher to ensure accuracy.
- Press Ctrl + A to save the payment voucher.