1.  Introduction to GST ( IGST . CGST, SGST )

 

2.  Calculation of GST ( IGST, CGST & SGST) (Practical Assignment )

 

3.  GST on Tally.ERP 9 ( With Practical Assignment )

     Step-1  :  Activating GST for Your Company

     Step-2  : Setting Up GST Rates

     Step-3 :  Updating/Creating Sales and Purchase Ledgers for GST Compliance

     Step-4  : Restarting Voucher Numbering for GST Transactions

     Step-5 : Updating/Creating Party GSTIN/UIN

     Step-6  : Creating GST Ledgers

     Step-7  : Creating Party Ledgers for GST

     Step-8  : Recording Purchase under GST

     Step-9 : Recording GST Sales and Printing Invoices

 

4.  Generate GSTR-1 Returns / Reports under Tally.ERP9

  4.1. Table-Wise Format (Department  Format)

 4.2.    Returns Summary ( GSTR-1)

  4.2.1 Total number of vouchers for the period

  4.2.2. Included in returns

  4.2.3. Not relevant for returns

4.2.4.Incomplete/mismatch in information (to be resolved)

      (SUMMARY OF EXCEPTIONS – GSTR-1)

4.2.4.1.     No. of voucher with incomplete / mismatch in information

       4.2.4.2.  Country , State and Dealer Type not Specified

      4.2.4.3.Tax Rate / Tax Type not Specified

4.2.4.4.Nature of transaction, taxable value, rate of tax modified in voucher

4.2.4.5.  Incorrect tax type selected in tax ledger

4.2.4.6.Mismatch due to tax amount modified in voucher

4.2.4.7.  Voucher with incomplete / incorrect adjustment details ( SGTR-2)

4.2.4.8. Information required for generating table-wise details not provided

4.2.4.9.  Exception Types

     4.2.4.9.1. Item Exceptions

     4.2.4.9.2. Ledger Exceptions

4.3. GSTR-1 Particulars ( Computation Details)

     4.3.1. Outward Supplies

 

5.  Status Reconciliation (GSTR-1)

5.1.  Set Status

5.2.  Status-wise View

 

6.  Challan Reconciliation Report for GST Payments

7. Creating Income and Expenses Ledger in GST

 
8. Reverse Charge on Purchase from Unregistered Dealer (URD) | Reverse Charge in GST in Tally

Step-1:     Create Supplier Ledger i.e. Supplier (L) URD – Local

Step-2:     Similarly.. Create Supplier Ledger of Outside State i.e. Supplier (O) URD – Interstate

Step-3:     Create  Local Purchase Ledger i.e. “Purchase from URD-Local”

Step-4:     Similarly.. Create  Outside Purchase Ledger i.e. “Purchase from URD-Interstate ”

Step-5:     Recording an Invoice for Purchase from Unregistered Dealer-Local

Step-6  :   Similarly, You can Record an Invoice for Purchase from Unregistered Dealer-Interstate (Outside State)

Step-7:     View Total Tax Liability under Reverse Charge GST in GSTR2

Step-8 :    Recording a Journal Voucher Transaction for Increase in Tax Liability on Purchase from Unregistered Dealers

 
9. GST On Advance Payment Received From Customer in Tally | GST in Tally ERP 9

9.1.  Advance Receipt exclusive of tax adjusted against Sales Invoice in the same month

9.1.1.     To record a receipt voucher for advance receipt from customer exclusive of tax

9.1.2.     Sales Invoice Linked to an Advance Receipt Voucher in the same month as above.

9.2. Advance Received and Sales Invoice recorded in different months.

9.2.1.  Advance receipt voucher

9.2.2. Journal voucher to raise the liability

9.2.3. Sales Invoice against Advance Receipt of Previous Month

9.2.3. Journal Voucher to Reverse the Tax Liability raised in Journal Voucher for the Advance Received of the Previous Month.

9.3.  Reversal of GST on account of Cancellation of Advance Received.

9.3.1.  To exclude a transaction

9.3.2. To reverse the liability on cancellation of a transaction

 

10. Recording An Advance Payment To Supplier Under GST

 
11. Transferring Tax Credits of VAT, Excise, and Service Tax to GST
 
12. Recording Sales of Composite Supply under GST
(Expenses Apportioning)
 
13. ‘Nil-Rated Sales’ on GST in Tally.ERP9
 
14. ‘Exempt Sales’ on GST in Tally.ERP9
 
15. FAQ on GST in Tally.ERP 9
 
16. Common Queries About GST in Tally.ERP9
 

Calculation of GST ( IGST, CGST & SGST) with Practical Assignment

In Tally.ERP 9


2.    Calculation of GST ( IGST, CGST & SGST)

 

Example 1 : The following Transaction has been done by the Swayam Education Pvt. Ltd. Based on this transaction compute the GST payable to the Government.

1.         Purchase from Raj Infotech, 5 CDs of Antivirus Software @ Rs. 800 each, with Input GST rate @ 18%. i.e. Rs.. 720 -  [ CGST (9%) Rs.360 and SGST (9%) Rs.360 ]

2.         Purchase from Microtek India Ltd. , 10 Monitors @  Rs. 4000 each, with Input GST @ 28% i.e. Rs.11,200 – [ CGST (14%) Rs.5600 and SGST (14%) Rs. 5600. ]

3.         Purchase 2 ‘Hp-Laptop’ @ Rs. 45,000 with Input IGST @ 18% i.e. Rs. 16,200

and

2 Mi-Note 4 Mobiles @ Rs. 10,000 each with Input IGST 12% i.e. Rs.2,400 –  in Cash from  Outside State – West Bengal from Registered Shop.

4.         Sale of 5 Antivirus CDs @ Rs.1500 to Rajib Roy & Sons with output GST 18% i.e. Rs. 1350 – [CGST (9%) Rs. 675 and SGST (9%) Rs.675 ]

5.         Sale of 10 Monitors @ Rs.4500 , to H. Goenka Traders with Output GST @ 28% i.e. Rs. 12600 – [ CGST (14%) Rs. 6300 and SGST (14%) Rs. 6300 ]

6.         Sale of 2  ‘Hp-Laptop’ @ Rs 50,000 with Output GST @ 18% i.e. Rs.18,000 [ CGST (9%) Rs.9,000 and SGST (9%) Rs.9,000 ] in Cash within Odisha 

7.         Sale of 2  Mi-Note 4 Mobiles Outside State @ Rs. 15,000 each with Output IGST 12% i.e. Rs. 3600  in Cash to a Party in Andhra Pradesh.  

Solutions :

 

For PURCHASE :

IGST

CGST

SGST

For Transaction 1 : GST paid to party on assessable value of Rs.4,000 @ 18 % GST is Rs. 720

 

360

360

For Transaction 2 : GST paid  to Party on the assessable Value of Rs. 40,000 @ 28% GST is Rs. 11,200

 

5600

5600

For Transaction 3 : IGST paid on the assessable Value of Rs. 90,000 @ 18% GST is Rs. 16,200 &  Rs. 20,000 @ 12% GST is Rs. 2,400 [ 16200+2400]

18600

 

 

Total of Input GST [ IGST, SGST & CGST]

18600

5960

5960

For SALES :

 

 

 

For Transaction 6 : GST received from Party on assessable value of Rs. 7,500  @ 18% GST Rs. 1350

 

675

675

For Transaction 7 : GST received from Party on assessable value of Rs. 45,000 @ 28 % GST Rs. 12600

 

6300

6300

For Transaction 8 : GST received on the assessable Value of Rs. 1,00,000 @ 18% GST is Rs. 18,000.

 

9000

9000

For Transaction 9 : IGST received on the assessable Value of Rs. 30,000 @ 12% IGST is Rs.3600 for sale outside State.

3600

 

 

Total Output GST [ IGST, SGST & CGST]

3600

15,975

15,975

 

TABLE OF GST ADJUSTMENT :

 

Particulars

IGST

CGST

SGST

Output GST Liability

3600

15,975

15,975

Less : Input GST Credit

 

 

 

Input CGST

 

5960

 

Input SGST

 

 

5960

Input IGST

3600

10015

4985

Amount Payable i.e SGST only

NIL

NIL

5030

 

Any IGST credit will first be applied to set off IGST and then CGST.

Balance if any will be applied to setoff SGST.
So out of total input IGST of Rs. 18,600, firstly it will be completely setoff against IGST i.e. 3600. Then balance Rs.15,000 against CGST i.e. Rs. 10015 and remaining Balance of Rs. 4985 against SGST

From the total Output GST Rs.35,550, only Output SGST of  Rs. 5030 is payable.
So the Set-Off Entries will be -

1.         Setoff against CGST Output

 

            Output CGST A/c  Dr. ………                            15975

 

                        To        Input CGST     A/c                                                      5960

                        To        Input IGST       A/c                                                      10015

 

2.         Setoff against SGST Output

 

            Output SGST A/c  Dr. ………                            15975

 

                        To        Input SGST      A/c                                                      5960

                        To        Input IGST       A/c                                                      4985

                        To        Output SGST Payable A/c                                         5030

 

3.         Setoff against IGST Output

 

            Output IGST A/c  Dr. ………                             3600

 

                        To        Input IGST       A/c                                                      3600

 

4.         Final Payment of Output SGST Payable of Rs. 5030

 

            Output SGST Payable A/c  Dr. ………  5030

 

                        To        Bank                A/c                                                      5030

 
 
Disclaimer :.

The names of Companies and persons used in this Website have been used for illustrative purposes only.
The visitors may visit www.tallysolutions.com , the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications

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