GST Implementation in Tally Notes

GST and its implementation in Tally ERP 9 and 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 :

  1. Nil
  2. 5%
  3. 12%
  4. 18%
  5. 28%

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

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