GST Tally Prime Notes

GST and its implementation in Tally Prime, Step by step Notes with assignment. The best study material for Tally computer course training.

GST (Goods and Service Tax)

CGST – Centre Goods and Service Tax
SGST – State Goods and Service Tax
IGST – Integrated Goods and Service Tax

GST Rates :

Open New Company

Activate : GST implementation in Tally Company

F11 (Fetures)>F3(Statutory and Taxation)

Enable Goods and Service Tax : Yes
Set /Alt GST Details : Yes

State : Uttar Pradesh
Reg Type : Regular
GSTIN : 09AABCU9603R1ZL
Periodicity : Monthly
Enable GST Classification : Yes

Accept GST details and Accept Statutory and Taxation

Create Ledgers

CGST
Name : CGST
Under : Duties and Taxes
Type of Tax : GST
Tax Type : Central Tax

SGST
Name : SGST
Under : Duties and Taxes
Type of Tax : GST
Tax Type : State Tax

IGST
Name : IGST
Under : Duties and Taxes
Type of Tax : GST
Tax Type : Integrated Tax

Purchase
Under : Purchase Account
GST Details : Applicable
Type of Supply : Goods

Provide Bank Details : Yes
Transaction Type : Cheque

Sales
Under : Sales Account
GST Details : Applicable
Type of Supply : Goods

Provide Bank Details : Yes
Transaction Type : Cheque

HDFC Bank
Under : Bank Accounts
A/C Name: Super Classes
A/C No : 1234567
IFS Code : HDFC0123456
Branch : Muzaffarnagar
Accept

Ledger for Purchase Party

Super Computer Store

Under : Sundry Creditors
Provide Bank details : Yes
Transaction Type : Yes
Account Payee
PAN Number : ABCDE1234C
Reg Type : Regualr
GSTIN : 09AABCD1203R1ZL
Set Alt GST details : No

Ledger for Sales Party

Sudhir Saini

Under : Sundry Debtors
Provide Bank details : Yes
Transaction Type : Yes
Account Payee
Set Alt GST details : No

Stock Group Creation

GOT>Inventory Info > Stock Group >Create

Computer Parts
Under : Primary
Set / Alt GST : No

Note: If all the items of a group have same GST rate, than GST rates can be set for groups. But for training purpose, we will set GST rate for each items.

Create Unit

Symbol : Pcs
Name : Pieces

Create Stock Items

Keyboard –Dell
Under : Computer Parts
Unit : Pcs
GST : Applicable
Set/Alter GST : Yes

Set GST Details for Stock
Classification : Undefined
Calculation Type : On Value
Taxability : Taxable
Tax Type : Integrated : 18%
Type of Supply : Goods

Keyboard – HP
Under : Computer Parts
Unit : Pcs
GST : Applicable
Set/Alter GST : Yes
Calculation Type : On Value
Taxability : Taxable
Tax Type : Integrated : 18%
Type of Supply : Goods

Mouse (Normal)
Under : Computer Parts
Unit : Pcs
GST : Applicable
Set/Alter GST : Yes
Calculation Type : On Value
Taxability : Taxable
Tax Type : Integrated : 18%
Type of Supply : Goods

Mouse (Cordless)
Under : Computer Parts
Unit : Pcs
GST : Applicable
Set/Alter GST : Yes
Calculation Type : On Value
Taxability : Taxable
Tax Type : Integrated : 18%
Type of Supply : Goods

Purchase the Items

GOT > Account Voucher > F9 (Purchase)

Party Account : Super Computer Store

Keyboard – Dell      2 Pcs         220         440
Keyboard – HP        1 Pcs         450         450
Mouse – Normal       2 Pcs         150         300
Mouse – Wireless     1 Pcs         250         250
                                                                                                                                Total      1440
CGST                          129.60
SGST                          129.60

Note : Alt+A for Analysis , Details Alt+F1, Esc

Enter and Accept

Report
Check Stock Summary
Balance Sheet > Details (Alt+F1)

Sales the Items

GOT > Account Voucher > F8 (Sales)

Party Account : Sudhir Saini
Sales Ledger : Sales

Keyboard – Dell     2 Pcs                      300                         600
Keyboard – HP       1 Pcs                      500                         500
Mouse – Normal      1 Pcs                      300                         300
Mouse – Wireless    1 Pcs                      500                         500
                                                                                                                                Total     
CGST                                                                                                                                    
SGST

Report
Check Stock Summary
Balance Sheet > Details (Alt+F1)

Receive Amount against Sale

GOT > Accounting Voucher > F6 (Receipt)
Account : HDFC Bank

Cr Sudhir Saini                       2242
Dr HDFC Bank                          2242

Accept

Report
Balance Sheet > Details (Alt+F1)

Make Payment to Supplier

GOT > Accounting Voucher > F5 (Payment)
Account : HDFC Bank

Super Computer Store      1699.20

Accept

Report
Balance Sheet > Details (Alt+F1)

Duties and Taxes : 82.80

Pay GST in TallyGOT > Accounting Vouchers > Payment (F5)

Change Date F2 – 1.5.2021 ( For Tally training version)

Account ->
Dr: Start Payment (Alt +S)

Statutory Payment
Tax Type : GST
Period : 1 May 2021 to 31 May 2021
Type : Regular

Dr           CGST :                   41.40
Dr           SGST :                   41.40
Cr:          HDFC Bank                82.80

Provide GST Details : Yes

Mode of Payment : Netbanking
Name of Bank : SBI
Report
Balance Sheet > Details (Alt+F1)

Thanks for read and practice the GST implementation in Tally Notes

Payroll Tally Notes with Assignment – SSC STUDY