Simplest way to learn GST in Tally.ERP9
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FAQ @ Recording Transactions under GST in Tally.ERP9
 

1.   How to record expenses incurred in the furtherance of business like rent, telephone expenses, stationery and so on, and claim them under GST?

Expenses incurred for the furtherance of business, such as rent (commercial), telephone bill, stationery and so on, can be claimed under GST by recording them as purchases and not as expenses. To record such purchases, create a party ledger (party from whom such goods are procured) and ensure that GSTIN of the party is updated in the ledger. When the supplier uploads his GSTR-1, the details will appear in your GSTR-2A. You can claim input credit by confirming the same in your GSTR-2.

2.   How do I account for consignment sales?

Consignment sales is similar to other sales under GST. You can record the sales invoice with GST ledgers (if it is taxable), and record a tax payment voucher to pay tax.

3.   How to make stock transfer entry between two godowns of same organisation inside the state and outside the state?

Under the GST regime, stock transfer to a godown or to an entity with a different GSTIN registration is considered taxable supply. Hence, if stock is transferred to a godown of the same organisation, it is recorded as a transfer if the godown is operating under the same GSTIN. In case the godown has a different GSTIN, it is recorded as an taxable outward supply. You can record transfers using delivery note or material out voucher types, and taxable outward supplies using sales vouchers in Tally.ERP 9.

In case of supply to a godown outside the state, it is recorded as a taxable outward supply, since the same GSTIN cannot be used for business operations in two different states.

4.   How to account for works contract sales and purchases?

Works contract is treated as a service under GST. The works contract purchases and sales have to be recorded as taxable purchases and sales. Based on the State in which the party is located, you can select the taxable Nature of transactions provided for sales and purchases, and the GST ledgers in the invoice.

5.   How to maintain transactions of job work under GST?

You can manage your job work entries using the existing features of job work in Tally.ERP 9. When the GST rules related to job work are finalised, necessary changes will be incorporated, and made available in Tally.ERP 9.

6.   How to record inclusive-of-tax transactions?

In Tally.ERP 9 Release 5.0 and later versions, recording inclusive-of-tax transaction is simplified. Earlier you had to create a voucher class with inclusive-of-tax percentages to record inclusive-of-tax transactions.

Now, this can be done by enabling the option Allow entry of rate inclusive of tax for stock item? under F12: Configure in sales or purchase invoice.

To record an inclusive-of-tax transaction

1.    Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

2.    Click F12: Configure and enable the option Allow entry of rate inclusive of tax for stock item?

The column Rate (Incl. of Tax) appears in the invoice.

Rate (incl. of Tax): Enter the rate of the item including tax in this column. The actual rate will appear in the Rate column. The tax amount will appear automatically on selecting the tax ledgers.

 
 
POPULAR TOPICS @ GST in Tally.ERP9
FAQ @ GST Invoicing and Printing
FAQ @ GST Features and Tax Calculations
Unregistered Dealers under GST
HSN/SAC for GST
Recording Transactions under GST
Licensing and Migration for GST
Table-wise Report of GSTR-1
Using Multiple addresses for Ledger Account
Create A Voucher Class for Inclusive of Tax Calculations
Creating Voucher Types in Tally.ERP9
Restarting Voucher Numbering
Renewing Your Tally Software Service subscription for Tally.ERP 9
How to Upgrade to the Latest Tally.ERP 9 Release
How to Update Your Tally.ERP 9 License
How to Reactivate Tally.ERP 9 License
Surrendering Tally.ERP 9 License
Activating Tally.ERP 9 License
Configuring Tally.ERP 9 License from Tally Gateway Server
Summary of Exceptions- GSTR-2
Table-wise Report-GSTR-2
Returns Summary – GSTR-2
Computation Details- GSTR-2
Status Reconciliation- GSTR-2
Returns Summary- GSTR-1
Computation Details- GSTR-1
Summary of Exceptions- GSTR-1
Table-wise GSTR-1
Status Reconciliation-GSTR-1
Reversal of Tax Credit under GST
Refund of Tax Credit under GST
Recording Transitional Credit under GST
Adjustments Against Tax Credit under GST
Liability for interest, Penalty, Late Fee, and other Dues in GST
Advance Payment to Supplier under Reverse Charge in GST
GST Payment Voucher
Sales Returns under GST
Export Sales under GST
Sales of Mixed supply under GST
Sales of Composite Supply under GST
Nil-Rated GST-Sales
Exempt GST-Sales
SEZ GST-Sales
GST-Sales to Consumer (B2C large and small invoices)
GST-Sales Involving Consignee (ship to) and buyer (bill to)
GST-Sale of Works Contract Services
Local GST-Sales
Interstate GST-Sales
GST-Sales of Goods and Services in a Single Invoice
Restart Voucher Numbering in GST Sale
Purchase Returns under GST
Record Inward Supply Of Services As Imports under GST
Raise Tax Liability under GST Purchase
Claim Tax Credit On The Liability Of Imports under GST Purchase
Nil Rated GST-Purchases
Exempt GST-Purchases
SEZ GST-Purchases
GST-Purchase of Works Contract Services
Local GST-Purchase
Interstate GST-Purchase
Updating / Creating a Sales Ledger under GST
Updating/Creating a Purchase Ledger under GST
Setting up GST Rates
Activating GST
Providing GST-related details
Sales Inclusive of Tax in Tally.ERP9
 
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