Goods And Service Tax in Tally Prime


GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.

  • GSTR 1 is a monthly return of outward supplies. Essentially, it is a return showing all the sales transactions of a business.
  • GSTR-2 contains details of all the purchases transactions of a registered dealer for a month. It will also include purchases on which reverse charge applies.
  • GST-3b is a monthly self-declaration to be filed by a registered GST dealer along with GSTR1 and GSTR2 return. it is a simplified return to declare summary liabilities for a tax period.
Gst Tax Table

Intrastate transaction


1. Go to Gateway of Tally prime > masters > Ledgers > Create .
2. Enter the party’s Name .
3. Select sundry creditors as the group name in the field Under .
4. Select goods Tax as the Type of duty/tax
5. The Ledger Creation screen appears as shown below:

Anita Enterprises

6. press Enter to save.

1. Select Change mode >Item Invoice > Enter

Change Mode Item

2. Go to Gateway of Tally prime > voucher> Purchase> Alt+ C > Create.
3. Enter the Stock Name .
4. Select Stock in Hand as the group name in the field Under.

Computer Ledger

5. Select Set/alter GST details Enter YES.

Computer

6. Select goods Tax as the Type of duty/tax
7. press Enter to save.

Common tax ledger creation


1. Go to Gateway of Tally > voucher > purchase >Alt+ C > Create .
2. Enter the tax ledger Name .
3. Select Duties & Taxes as the group name in the field Under .
4. Select central tax as the Type of duty/tax .
5. The Ledger Creation screen appears as shown below:

Cgst Ledger

6. Press Enter to save.

Anith Purchase Voucher

Interstate transaction


1. Go to Gateway of Tally prime > voucher > purchase >Alt+ C > Create .
2. Enter the Stock Name .
3. Select Stock in Hand as the group name in the field Under .

Pen driver Ledger

4. Select Set/alter GST details Enter YES.

Pen Driver

6. Select goods Tax as the Type of duty/tax
7. The Ledger Creation screen appears as shown below:
8. press Enter to save.

Ax World Voucher

Intrastate Sales Transaction


1. Go to Gateway of Tally prime > masters > Ledgers > Create.
2. Enter the party’s Name.
3. Select sundry Debtors as the group name in the field Under.
4. Select goods Tax as the Type of duty/tax
5. The Ledger Creation screen appears as shown below:

Murail

6.press Enter to save.

Sales Voucher Murail

Reports


1. Go to Gateway of Tally prime > GO To > GST Reports>Enter.

Go To Reports

2.Go to Gateway of Tally prime > GO To > GST Reports > GSTR-1> Enter.

Gstin

3.Go to Gateway of Tally prime >Display more Reports> Statutory Reports> GST Reports> GSTR-2> Enter.

gstr-2

4.Go to Gateway of Tally prime > Display more Reports > Statutory Reports > GST Reports > GSTR -3B > Enter.

Sgstr3b

GOODS AND SERVICE TAX SUM


1. Purchasing the following goods from Anita enterprises, Tamilnadu with supplier invoice 101

  • Computer 100nos Rs.12000
  • External Hard Drive 50nos Rs.3500
2. Purchasing the following goods from Ax world, New Delhi with supplier invoice 102
  • Pen driver 300nos Rs.750
  • Scanner 50nos Rs.25200
3.Sold the following goods to Mr.Murali, Tamilnadu with customer invoice 123
  • Pen driver 50nos Rs.850
  • Scanner 10nos Rs.27000
4.Sold the following goods to Ms.Meera, Gujarat with customer invoice 124
  • Computer 10nos Rs.14000
  • External Hard Drive 10nos Rs.4000