gst assignment for tally prime

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Practical Assignments : GST Accounts–Tally

The Practical Assignments-Tax Accounts- covers  Basic tasks of Maintaining GST Accounts, from set up, Data Entry to GST Reports, in Tally Prime Rel 3.x.  

This assignment is in continuation to Practical Assignments of Basic Financial Accounting & Basic Invoicing & Inventory Accounts. Maintain GST Accounts  in the same Company in which Basic Financial Accounts and Basic Invoicing &  Inventory Accounts Practical Assignments data were entered.  

Perform the operations for each Assignment as explained. Capture the screenshots (Prtscr) and paste it in MS Word file in 1×1 cell. Write the number and Name of screen shot as indicated. Explain the options and operational step.  

This way, capture the screenshots and place in MS Word file, in sequence. Don’t repeat same screenshot.  

After completing all assignments, take Back up of the data files. Now email to [email protected], attaching the Data Back Up file and screenshot zip file.       

GST Accounting – Practical Assignments

Continue in same Company after previous assignments

01-1 Company GST Features

[At Company >Click F11. At Company Features , under section Taxation , set Yes at Enable Goods & Services Tax (GST) . Next, At GST Details screen , under GST Registration Details section, enter the relevant details.]  

Capture Screenshot 1-1A : Company Features . 1-1B : Company GST Details set up  

For more details, visit

https://dvidya.com/goods-service-tax-gst/ https://dvidya.com/goods-services-tax-gst-set-up-composition-dealers-tally/ https://dvidya.com/goods-services-tax-gst-set-up-regular-dealers-tally/ https://youtu.be/STv3wbduT8A https://youtu.be/RwJJIYC6msE https://youtu.be/VSS48c_LZXY https://youtu.be/OjSvFYUJ_bI   https://youtu.be/mLrLyOeDX78 https://youtu.be/7wlTsturfks

02 GST Masters

02-1 Create SGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter SGST; at Under , select Duties & Taxes ; at Tax Type , select SGST/UTGST ; At Inventory Values are affected , set No .  

Capture Screenshot 1-2 : SGST Ledger Account Creation.  

https://dvidya.com/gst-set-up-accounts-inventory-masters-tally/ https://youtu.be/x8VZLjVEeug https://youtu.be/XVZbi0-ufDY https://youtu.be/Uzsise4yZXg

02-2 Create CGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter CGST; at Under , select Duties & Taxes ; at Tax Type. At Inventory Values are affected , set No .   Capture Screenshot 2-2 : CGST Ledger Account Creation.  

02-3 Create IGST Ledger Account Master

[Select GoT>Create> Ledger. At Ledger Account creation , at Name , enter IGST; at Under , select Duties & Taxes ; at Tax Type select I GST ; At Inventory Values are affected , set No .  

Capture Screenshot 2-3 : CGST Ledger Account Creation.  

https://youtu.be/XVZbi0-ufDY

02-4 UQC set up in UoM Master

Set UQC in UoM – Kilograms [Select GoT>Alter> Unit. Select Kilogram. At Unit Alteration , at Unit Quantity Code (UQC) , select KGS-Kilograms from the UQC list. Press Ctrl+A to save].  

Capture Screenshot 2-4 : UoM-UQC set up.  

https://youtu.be/KAKto78n9fQ

02-5 GST details set up in Stock Item Master

Set GST details in Stock Item Wheat, Select GoT>Alter> Item. Select Wheat, At Stock Item Alteration,  Under HSN/SAC & Related Details, at  HSN/SAC  Details , select Specify Details Here. At HSN Description – Food grains, HSN Code- 1234, At Description of Goods, select Specify Details Here , Under GST Rate and related Details, At GST Rate details, select Specify Details Here . At Taxability Type, select Taxable . At GST Rate, enter the GST Rate applicable for the Item. At Type of Supply, select Goods .  

2-5 : Capture Screenshot UoM-UQC set up.  

https://youtu.be/U7fuonC9dkI https://youtu.be/LK-df_Oh6Vk

02-6 Set GST details in Supplier Master

At Supplier Ledger Account, enter Tax related details [Select GoT>Alter>Ledger,  select ABC & Co. At Ledger Alteration, click F12:Configure. At Ledger Master Configuration screen, under Party Tax Registration details , set Yes at Provide GST Registration details . At Tax Registration details of Ledger Account Master, Enter Registration Type- Regular, GSTIN 19AAAC1234K1ZV. At Set Alter Additional Details, set Yes and then Place of Supply, select the State of the Party.  

Capture Screenshot : 2-6A: Ledger Account Master, 2-6B: Ledger Master Configuration screen,

https://youtu.be/1_jlZD8mXkI https://youtu.be/B6jEPMw26Tg  

03 GST Invoicing

3-1 Create GST Sales Invoice .

Create Sales Invoice for 10 kg of Wheat @25 per kg sold to ABC & Co on 1-5-21. [Select GoT>Vouchers. Click F8:Sales (or press F8). Select Sales Voucher type from List. Click Ctrl+H and select Item Invoice . Enter Voucher Date 1-5-21 . At Party A/c Name , select ABC & Co . At Sales Ledger, select Sales .  At Name of Item , select Wheat , At Quantity , enter 10 kg. at Rate , enter 25/kg. The amount 250 would be shown. In next line, select End of List . Next select SGST, the SGST amount (15.00) would be auto calculated. Next select CGST. the CGST amount (15.00) would be auto calculated. The total Invoice amount (250.00+15.00+15.00 = 280.00) is displayed. Press Ctrl+A to save the Voucher].  

Capture Screenshot : 3-1 GST Sales Invoice Entry ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U

3-2 Print the Sales Voucher

Voucher dated 1-5-23 on ABC Co [Select GoT>Day Book . At Day Book display, press F2 and Date 1-5-23. Select the Sales Voucher from the list to get the Voucher Alteration. Press Ctrl+P to get the Print screen. Click I:Preview to View the  Print form of the Invoice on screen]    

Capture Screenshot : 3-2 GST Sales Invoice in Print ,

https://youtu.be/L57aR4Zb7GM https://youtu.be/S0y56oS7r1U  

03-03 GST Reports

• Display GSTR-1 for 1-4-23 to 31-7-23

[Select GoT>Display more reports>GST Reports>GSTR-1. Click F2:Period (or press F2) and enter Period from 1-4-23 to 31-7-23 to display GSTR-1 Report  

Capture Screenshot : 3-3 GSTR-1 Display, https://dvidya.com/gsrt-1-return-filing-tally/

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Home >> GST using TallyPrime

GST using Tallyprime

A Complete Guide on Goods and Services Tax (GST)

About the Course

If you are a student or a working professional and an expert in the Accounting and Finance domain, then GST using TallyPrime is the course designed for your career growth. It covers topics from Introduction to GST to Accounting of basic and advanced GST transactions, and filing GST returns.

The various concepts explained through illustrations, and real-life industry-based scenarios help establish a strong foundation for your Taxation and Financial career.

This course will help you understand how to introduce GST in a company and record basic and advanced compliance transactions. The practical application will be done on the new TallyPrime to keep you on par with the new releases. To join this course locate a partner near you.

Course duration

Course Detail

GST using TallyPrime course covers topics from basic to advanced GST concepts, e-Way Bill, e-Invoice, and accounting of GST-compliant transactions. Enclosed below are the topic details covered in this course.

Chapter 1: Introduction to Goods and Services Tax (GST)

This chapter covers an Introduction to GST, e-Way Bill, GST e-Invoicing, GST in TallyPrime, Hierarchy of Calculating Tax in Transactions, Recording GST compliant transactions, e-Way Bill Reports in TallyPrime, Input Tax Credit Set Off against Liability, GST Tax Payment, Generating GST Returns for Regular Dealer in TallyPrime, Filing GST Returns in TallyPrime, Generating e-Invoice in TallyPrime, Quarterly Return Monthly Payment Scheme, Composition Dealer under GST Regime, Introduction to e-Invoice Sandbox experience, Connected and Complete e-Way bill System in TallyPrime.

Chapter 2: Advanced Goods and Services Tax (GST)

GST e-Invoicing, Recording GST compliant transactions such as Intrastate Supply of Goods & Services, Interstate Supply of Goods, Purchases from Unregistered Dealer, Purchases from Composition Dealer, Accounting Mixed Supply and Composite Supply, Supply of Exempted/Nil-rated Goods, Supply of Goods to Special Economic Zone (SEZ), Supply of Goods to Other Territory, Supply of Goods to Unregistered Dealer, Reverse Charge Mechanism under GST, Export of Goods, Advance Receipt, Generating e-Invoice Report, Generating e-Way Bill Report, Input Tax Credit Set Off against Liability, GST Tax Payment, Reversal of Input Tax Credit, Generating and e-Filing GST Returns in TallyPrime.

GST SIMULATION

GST (Goods and Services Tax) simulation is a practical and interactive training tool that replicates the processes and calculations involved in GST transactions. This is designed to empower our learners with real-time practice and expertise in GST management (GST returns, generating e-Way bill, and e-Invoicing)

Our courses include interactive and interesting content, concepts, and engaging content delivery to ensure you have a delightful learning experience.

Hybrid-Learning Module

A Hybrid-Learning Module enables you to learn the course through text and interactive video content.

Digital Content

Digital Content comprises explainer videos, tutorial videos, quizzes, and infographics ensuring a delightful learning experience.

The assessment comprises questions such as MCQs, MMCQs, True or False, and Image-Based Questions.

Certification

The course is designed as per the latest enhancements under GST law. This is an Industry Preferred and Verifiable Digital Certificate from Tally.

This is a practical and interactive training tool that replicates the processes and calculations involved in GST transactions (GST returns, generating e-Way bills, and e-Invoicing)

FREQUENTLY ASKED QUESTIONS

Most frequent questions and answers.

This courseware is highly recommended for working professionals and students who aspire to build a successful career in Finance, and Taxation or as an entrepreneur. To get enrolled for GST using TallyPrime, one must have completed his Graduation.

To get enrolled for GST using TallyPrime, one must be a working professional and must have completed his graduation in any stream. You can then take the course since it has been designed in the best and simplest way possible which is aligned with the all-new TallyPrime software.

Both options are available, and candidates can opt for online or in-person classes.

GST using TallyPrime certification program covers topics on Goods and Services Tax. The content is aligned to the latest features as introduced by GST law which is the current statutory requirement in the market that makes it industry-preferred.

The assessment is necessary to complete the course and attain the specialization certificate which will help your career growth and enable you to showcase the certificate.

The duration of the course is 45 Hours.

The assessment will be for 60 mins.

You can enroll for the course through our partner network spread across the country and globally. LOCATE A PARTNER nearby and enroll today for the course.

Yes, there is an extra fee   for the GST simulation.

Yes, after finishing the GST simulation, you’ll get a certificate showing your proficiency in using GST principles in real situations.

Locate a CENTRE to Enroll

We have a wide network of partners across India.

You can also locate a partner from our Tally Education App

Other Courses

Explore our various industry- preferred courses and certifications and select the one that suits your requirement.

This flagship courseware is the complete guide on Basics to Intermediate Accounting.

TallyACE International

This international course help learners understand the basic concepts of Computerized Accounting with Tally.

GCC VAT Using Tally

This international courseware covers  end to end details on GCC VAT, its concepts and usage.

TallyEssential International

This international courseware is the complete guide on Basics to Intermediate Accounting with scenarios for international markets.

We want to connect you to a world of opportunities and new avenues.

Drop Your Query!

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Tally Prime GST PDF Free Download

Tally Prime GST Notes PDF for Free Download. The topic wise PDF for GST Compliance, Activate GST in Company, Update and create Sales, Purchase and Party ledger for GST, Ledgers For Expenses, Incomes, Non-Revenue Accounts, Invoice Rounding Under GST, Update Stock Items and Stock Groups for GST and Set GST rates in Tally Prime.

Tally Prime PDF for GST Compliance

This PDF explain that how to record a GST transaction, you have to activate GST and also update or create the required ledgers.

How to Activate GST in Company

To use TallyPrime for GST compliance, you need to activate the GST feature. Once activated, GST-related features are available in ledgers, stock items, and transactions, and GST returns can be generated.

Activate and Configure GST for Regular Dealers

• Open the company for which you need to activate GST.
• Press  F11  (Features) > set  Enable Goods and Services Tax (GST)  to  Yes .

Update Sales and Purchase Ledgers for GST

If tax rate of many selling items same, specify the tax rate and other GST details in your sales ledger. Similarly, if the items you purchase have same tax rates, update your purchase ledger.

If you sell items with multiple tax rates, you can maintain a single sales ledger and record all GST details at the stock item or stock group level. Similarly, you can create a single purchase ledger.

The HSN details, tax rate, and type of supply selected in sales and purchase ledger will be applicable to all items or services selected in a transaction where these ledgers are applied. These details specified in the stock items will be overridden in the transaction with the details configured in the sales or purchase ledger.

Update Sales Ledger

• Gateway of Tally  >  Alter  > type or select  Ledger  >  Sales . Alternatively, press  Alt + G  (Go To) > Alter Master  > type or select  Ledger > Sales .
• Is GST Applicable  –  Applicable .
• Set/Alter GST Details  –  Yes , specify the details in   GST Details  screen, and save.

For more details : Download PDF from the below link:

Create GST Ledgers

You can account for different taxes under GST (central tax, state tax, UT tax, integrated tax, and cess), for which you need to create GST ledgers or tax ledgers for each tax type.

Central Tax Ledger

• Gateway of Tally  >  Create  > type or select  Ledger . Alternatively, press  Alt + G  (Go To) >  Create  Master  > type or select  Ledger .
• Group it under  Duties & Taxes .
• Select  GST  as the  Type of duty/tax .
• Select  Central Tax  as the  Tax type .

Create Party Ledgers for GST

Create party ledgers for GST in TallyPrime for the Purchase and sell parties for goods and services, with the GST registration details. Further, create supplier Ledger, customer Ledger and enter the GSTIN/UIN based on the party type.

Set GST rates in the ledger grouped under non-revenue accounts, for example,  Current Assets  and  Current Liabilities . If you have created the party ledgers under groups other than Sundry debtors, Sundry creditors, Bank, Cash, and Branch/divisions:

Supplier Ledger

• Gateway of Tally  >  Create  > type or select  Ledger  > and press  Enter . Alternatively, press  Alt + G  (Go To) >  Create Master  >  Ledger  > and press  Enter .
• Enter the  Name  of the supplier’s ledger.
• Select  Sundry Creditors  in the  Under  field.
• Set the option  Maintain balances bill-by-bill  to  Yes . If you do not see this option, press  F12  (Configure) > set  Maintain balances Bill-by-Bill  to  Yes .
• Enter the  Default credit period , if any.
• Select the party Registration type, and enter the  GSTIN/UIN .
• Enable the option  Set/Alter GST Details  to open the  GST Details  screen

GST Classifications in Tally Prime

Create GST Classifications in TallyPrime in order to record the tax rates and other details for categories of goods attracting different GST rates.

To create a GST classifications TallyPrime

• Set  Show more features  to  Yes .
• Set  Show all features  to  Yes .
• Set the option Enable GST classification to Yes.

Update a Service Ledger for GST

Update a service ledger for GST in Tally Prime. To update taxes and other GST details for your service items, you need to modify your service ledgers.

• Gateway of Tally  >  Alter  > type or select  Ledger  > and press  Enter . Alternatively, press  Alt + G  (Go To) >  Create Master  > type or select  Ledger  > and press  Enter .

Ledgers For Expenses, Incomes, Non-Revenue Accounts, Invoice Rounding Under GST

Supply of goods or rendering of services may involve additional expenses, which can either be part of stock items or service value, or can be charged separately. When such an expense is recovered from customers, it is treated as an income. You can create a ledger to round-off the invoice value. You can enable the applicability of GST for non-revenue accounts as well.

Ledger to Round-off the Invoice Value

• Gateway of Tally  >  Create  > type or select  Ledger  > and press  Enter . Alternatively, press  Alt + G  (Go To) >  Create Master  > type or select  Ledger  > and press  Enter .
• Enter the  Name  of the expense ledger.
• Select direct or indirect expenses in the  Under  field.
•  Set  Type of Ledger  to  Invoice Rounding .

Update Stock Items and Stock Groups for GST

Update stock items and stock groups for GST in TallyPrime. If the items have different tax rates, with or without slab rates, update your stock item masters or stock groups with the applicable GST rates, and select the type of supply, as applicable.

Update Stock Item for GST

In case different tax rates for different items, modify the stock items to include the applicable tax rates.

• Gateway of Tally  >  Alter  > type or select  Stock Item > and press  Enter . Alternatively, press  Alt + G  (Go To) >  Alter Master  >  Stock Item  > and press  Enter .
• Select  Stock Item  from  List of Stock Items .
• Set the option  Set/Alter GST Details  to  Yes , to specify the details in the  GST Details  screen, and save.

Update Party GSTIN/UIN

Quickly update the GSTIN/UIN details for your parties group-wise from the Update Party GSTIN/UIN report. You can also provide this at the individual party ledger level. Use the Import Party GSTIN tool to import GSTINs for several parties in one-go. Update Party GSTIN Import Party GSTIN

Update party GSTIN or UIN

• Gateway of Tally > Display More Reports > Statutory Reports > GST Reports > Update Party GSTIN.

Alternatively, press  Alt + G  (Go To) > type or select  Update Party GSTIN  > and press Enter .

Set GST Rate in TallyPrime

GST rate in TallyPrime can be set Quickly. Set up GST rates for your company, stock item-wise or stock group-wise, using the  GST Rate Setup  option. You must enable GST in company to provide GST rates. Set up GST rates at the company level, stock group level, stock item level, account ledger group level, and ledger level. The GST rates can also be set up for a particular price range/slab for multiple stock items.

Set GST rate in TallyPrime for stock groups and stock items

• Gateway of Tally  >  Display More Reports  >  Statutory Reports  >  GST Reports  >  GST Rate Setup . Alternatively, press  Alt + G  (Go To) > type or select  GST Rate Setup >  and press  Enter .

Manage HSN Codes/SAC and Tax Rates in TallyPrime

Manage HSN codes/SAC and tax rates in Tally Prime at different levels for the goods or services.

It is recommended that HSN code/SAC and tax rate should be specified at the same level . In case you have specified these at different levels, you can remove it. If HSN code/SAC and tax rates are specified at stock item level and only HSN code/SAC is specified at accounting ledger/group level, tax will not be calculated while recording the invoice.

Order in which HSN code and tax rate are applied for goods

Provide gst details in tally prime pdf.

GST details can be provided in TallyPrime by specifying all GST-related information in GST Details screen. This screen can be configured to enable further options which will allow you to enter your GST information in detail.

Validate GSTIN/UIN and HSN/SAC Online in TallyPrime

GSTIN/UIN, HSN/SAC details are important to identify party, items, goods, or services in a transaction, as applicable. Furthermore, for a business has a turnover exceeding Rs. 5 Crore in the previous financial year, then it need to furnish 4, 6, or 8 digit HSN codes for Stock Items as per new mandate under  Notification 78/2020  issued by the GST Council.

Tally Prime Full Course Notes

Thanks for download Tally Prime GST PDF for implementation of GST in Indian Companies.

Tally ERP9 PDF Download

• Tally ERP 9 Book PDF Free Download – SSC STUDY
• Tally Computer Course Notes Pdf Download – SSC STUDY
• Tally ERP 9 GST Notes PDF Free Download – SSC STUDY
• Tally Practical Assignment with Solutions PDF – SSC STUDY

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Tally Prime - Complete Accounting with Tally > GST Report From Transaction

Generating GST Reports in Tally Prime

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This course help me to gain tally full knowledge . Learning Experience: I learnt how to use Tally Prime software. I got the knowledge of GST, BRS, TDS and payroll related features and many more.

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Course content.

Tally Prime Introduction

Introduction to Tally Prime

Tally Prime Installation & Data Migration

How to Install Tally Prime

Company Creation

How to Create Company in Tally Prime

Tally Prime Screen Interface

Understanding Masters in Gateway of Tally Prime

Understanding transactions, utility & reports in gateway of tally prime.

Tally Prime Basic Accounting Transaction

Performing Accounting Transactions in Tally Prime

Assignment of accounting transactions.

Tally Prime Business Transaction

Performing Business Transactions in Tally Prime

Tally Prime Basic Reports

Generating Basic Reports in Tally Prime

Goto option in tally prime, assignment of business transaction & basic reports.

Tally Prime Introduction of Inventory

Introduction to Inventory

Unit of measure in tally prime, stock category in tally prime, assignment of inventory setup, gst introduction, gst registration in tally prime, manage hsn codes and tax rates in tally prime, gst number structure, determination of tax.

Adjustment Of ITC Liable Payment

ITC Adjustment & ITC Set Off in Tally Prime

Gst return forms with example in tally prime, gst setup & inventory setup in tally prime.

GST Transaction

Create Purchase Transaction in Tally Prime

Create sales invoice in tally prime.

GST Report From Transaction

ITC Adjustment in Tally Prime

Assignment of gst sales purchase, introduction to e-way bill, e-way bill using tally prime, career as data entry operator, assignment of e-way bills, banking utilities in tally prime, banking transaction & cheque printing in tally prime, other transactions in tally prime, bank reconciliation in tally prime, assignment of banking.

Cost Centre

Cost Centre and Cost Category in Tally Prime

Predefined cost centre in tally prime, assignment of cost centre.

Interest Calculation

Simple Interest Calculation in Tally Prime

Bank overdraft interest calculation in tally prime, compound interest calculation in tally prime, assignment of interest.

Procurement Process

Introduction to Procurement Process

How to record purchase of goods and services in tally prime, what is pre close order in tally prime, assignment of procurement.

Sales Process

How to Record Sales of Goods and Services in Tally Prime

What is a point of sale in tally prime, introduction to godown transactions in tally prime, assignment of sales process, assignment of pos.

Manufacturing Process

Introduction to Manufacturing Process in Tally Prime

Manufacturing process transactions in tally prime, understanding manufacturing process by product in tally prime, assignment of mfg process.

Item Cost Tracking & Batch Detail

Item Cost Tracking in Tally Prime

Batch details in tally prime, assignment of batch detail, assignment of item cost tracking, manage buying and selling prices in tallyprime, assignment of price list.

Multi - Currency

What is Multi - Currency

How to record multi - currency transactions in tallyprime, assignment of multi currency.

Scheme Discount, Actual Bill & Operating Ex

Sales Promotion Scheme in Tally Prime

Record expenses in tally prime, assignment of operating ex..

Mix Supply & Detailed GST Report

Record Sale of Mixed Supply in Tally Prime

Gst report of mix supply in tally prime, career as accountant, assignment of mix supply, introduction of payroll with tally prime, payroll master creation in tally prime, payroll transaction in tally prime, payroll statutory report in tally prime, assignment of payroll, tds configuration in tally prime, assignment of tds, financial mis report in tally prime, inventory mis report in tally prime, career as mis, versions of tally, course summary.

Interview Question

Interview Questions

Career guideline, enjoying this course.

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Set Up TallyPrime for GST Composition

Once you have packed  the essentials for your GST Composition journey, TallyPrime is here to ensure that your journey goes as smoothly as possible.

Enable GS T

Let us begin with a few baby steps. First and foremost, you will have to enable GST in TallyPrime and save the details of your GST registration in the Company master. These details, such as State, GSTIN/UIN, and Registration Type, will be reflected in your transactions, and you can easily  print  them in your invoices. 

Moreover, your business might have multiple GST registrations (GSTINs) to cater to multiple geographies or business verticals. TallyPrime understands your special needs, and accordingly it allows you to conveniently save the details of all your registrations within the same company. After saving the details, you can select the relevant registration while recording transactions, wherever needed.

Set Up  GST Rates

The next order of business is setting up GST rates. As a Composite dealer, you can save the tax rates in TallyPrime for your purchases, according to the nature of goods or services that your business deals with. TallyPrime offers you the flexibility to apply these rates at various levels, depending on your comfort and business requirements. For example, you can configure the GST rates up front for your company, or you can apply the rates directly in the purchase transaction. 

What’s more, TallyPrime will also help you select the order or hierarchy in which you want to apply the tax rates. For example, if some of your stock items belong to a single stock group and fall under a common tax rate, then you can directly set the tax rate in the stock group. This rate will be subsequently applied to all the corresponding stock items.

Set Up GST Details for Parties

Once you have set up the GST details for your company, it is time to save the GST details for your parties as well. TallyPrime will help you create ledgers for all your customers or suppliers, and store the required details, such as GSTIN/UIN, Registration Type, Place of Supply, Assessee of Other Territory information, and so on.

Set Voucher Numbering

TallyPrime will also help you comply with department guidelines for maintaining GST transactions. For example, the department requires proper voucher numbering for your GST invoices, and accordingly TallyPrime will help you in easily creating and maintaining multiple series of voucher numbers.

Create or Update Masters for GST

TallyPrime also provides you with a host of other masters and ledgers that will help you record your transactions as a GST Composite dealer in peace. For example, you have a purchase ledger for GST, GST duty ledgers, service ledgers, expense/income/round-off ledgers, discount ledgers, and so on. You can also update your stock items and stock groups for GST, and easily manage HSN/SAC and the corresponding tax rates.

Activate GST for Composition Dealers – Single and Multi-Registration

To use GST as a Composite Dealer in TallyPrime, you have to first enable GST for your company. After that, you can easily save the GST details such as State, GSTIN/UIN, Registration Type, and so on. Once these details are saved in the Company, they will be reflected in your GST transactions. Once GST is activated in the Company, GST-related features will be available in ledgers, stock items, and transactions, and you can conveniently generate GST returns for your business.

• Open the company and press  F11 (Features)> Enable Goods and Services Tax (GST)  >  Yes .
• State : The State selected during Company Creation will be reflected here. If you update the State here, it will also be updated in the Company and existing transactions. 
• Registration type : Select the Registration type as Composition.
• Assessee of Other Territory : If your business is located in an Exclusive Economic Zone (Other Territory). then you can enable this option. GST details will be applied accordingly in your masters and transactions.
• Press  Ctrl+A  to save the details.

If you press Yes, you will be taken to the Chart of Accounts, where you can easily create the voucher numbering series. Refer to the section Create Voucher Numbering Series for GST Registrations to know more.

Set up Voucher Numbering from a GST Perspective

TallyPrime provides you with the best options to configure your voucher numbering as per GST requirements. When you are uploading invoices to the GSTN portal, the department expects the voucher numbers to be unique and to follow a proper sequence. For example, if you had recorded a sales transaction with the voucher number as 11, and a sales return takes place, then voucher number 12 should be assigned to the sales return or debit note. This will ensure that the overall voucher numbers follow the proper flow of the sales cycle.

Based on your business requirement, you can select your preferred method of voucher numbering, such as Automatic, Manual, or Multi-User Auto. If you select the Automatic method of voucher numbering, then you also have the benefit of either retaining the original voucher numbers or renumbering the vouchers. Subsequently, while recording transactions, you can select the relevant voucher type, and then the voucher number series will be automatically selected.

Moreover, if your business consists of multiple GST registrations, then you can create and maintain special voucher numbering series for all your GST registrations. For example, using a single series for sales, you can maintain and track both sales transactions and sales returns. While creating or altering a numbering series, you can set the Series Name and Method of Voucher Numbering.

Configure Voucher Numbering for GST

• Gateway of Tally  >  Create/Alter  >  Voucher Type . Alternatively, press  Alt+G  (Go To) >  Create/Alter Master  >  Voucher Type .
• Select the voucher type   from the List of Voucher Types, or create a new one, as needed. To learn more about voucher types, refer to the  Voucher Types in TallyPrime  article.
• Method of Voucher Numbering : Select the required method as per your business and GST requirements.
• Numbering behaviour on insertion/deletion : You will see this option if you have selected Automatic or Multi-user Auto as the Method of Voucher Numbering. Generally, when you insert or delete a transaction, your existing voucher numbers might get affected. However, you now have the option to either retain the original voucher numbers or renumber the vouchers, as per your requirement.

• Press  Ctrl+A  to save the details.

Create Voucher Numbering Series for GST Registrations

TallyPrime provides you with the flexibility to create multiple voucher numbering series either from the voucher type or from the Chart of Accounts. If your business consists of multiple GST registrations, then you can use this feature to create and maintain special voucher numbering series for all your GST registrations. Once you have created the required voucher numbering series, you can select it while recording transactions.

From Voucher Type

• Press  Alt+G  (Go To) >  Create/Alter Master  >  Voucher Type . Alternatively, go to  Gateway of Tally  >  Create/Alter  >  Voucher Type .
• Press  F12 (Configure)  >  Set Method of Voucher Numbering  >  Yes , and  Define multiple numbering series for vouchers  >  Yes . Press  Ctrl+A  to save.

• Provide a relevant Series Name. For example, if your business has a branch office (say, in Bangalore), then you can name the series after the branch and save the details accordingly.  

From Chart of Accounts

• Press  Alt+G  (Go To) >  Chart of Accounts  >  Voucher Type . Alternatively, go to  Gateway of Tally  >  Chart of Accounts  >  Voucher Type.
• Select Voucher Types from the List of Masters.

Set Up GST Rates and HSN/SAC Details

After enabling GST as a Composite dealer, you can proceed to set up the GST rates for your goods and services. TallyPrime offers you the flexibility to apply GST rates at one or more levels. Depending on your business need, you can apply the tax rates upfront at the company level, if your goods or services fall under a common tax rate. Alternatively, you can choose a different level such as ledger, accounting group, stock item, stock group, or even apply the rates directly in the transaction. 

Apart from applying GST rates at multiple levels, you have the additional benefit of deciding the order in which you want to apply the rates. You can select either the ledger or the stock item as the primary source for applying GST rates, and choose one of the following two orders: 

• Option 1 : Purchase Ledger > Accounting Group > Stock Item > Stock Group > Company 
• Option 2 : Stock Item > Stock Group > Purchase Ledger > Accounting Group > Company 

Apply GST Rate and HSN/SAC Details in the Company

•   Specify Details Here : Once you select this option, you will be able to enter the details right here in Company GST Details.
• Use GST Classification : This option allows you to select a previously created GST Classification, or create one on the spot. The details will be applied accordingly.
• Specify in Voucher : If you are not aware of the details at the moment, and if you want to add the details directly in the transaction, then you can select this option.
• GST Rate Details : Like in the previous field ( HSN/SAC Details ), you have the same three options to choose from.
• Ledger : Sales/Purchase Ledger > Accounting Group > Stock Item > Stock Group > Company 

Create Stock Items and Ledgers for GST Composition

TallyPrime provides you with a host of masters and ledgers that will help you record your GST transactions in peace. For example, you have sales and purchase ledgers for GST, GST duty ledgers, service ledgers, expense/income/round-off ledgers, discount ledgers, and so on. You can also update your stock items and stock groups for GST, and easily manage HSN/SAC and the corresponding tax rates.

Apply GST Rate and HSN/SAC Details in the Stock Item

• Press  Alt+G  (Go To) >  Create/Alter Master  >  Stock   Item . Alternatively,  Gateway of Tally  >  Create/Alter  >  Stock Item  (under  Inventory Masters ).
• Select the stock item   from the List of Stock Items, or create a new one, as needed.
•   Specify Details Here : Once you select this option, you will be able to enter the relevant details right here in Stock Item Creation/Alteration.

Apply GST Rate and HSN/SAC Details in Purchase Ledger

If your business sells many items with the same tax rate, then you can conveniently apply the tax rate and other GST details directly in a common sales ledger. This way, you only have to select the relevant sales ledger while recording the transaction, and the GST details will be applied seamlessly.

• Press  Alt+G  (Go To) >  Create/Alter Master  >  Ledger . Alternatively,  Gateway of Tally  >  Create/Alter  >  Ledger .
• Select the required purchase ledger   from the List of Ledgers, or create a new one, as needed.
• As per Company/Group : This option will help you re-use the HSN/SAC details if you had already updated them in the company or accounting group.
• Specify Details Here : Once you select this option, you will be able to enter the relevant details right here in Ledger Creation/Alteration.

Update GST Details in Party Ledger

• Press  Alt+G  (Go To) >  Create/Alter Master  >  Ledger  (under  Accounting Master ). Alternatively,  Gateway of Tally  >  Create/Alter  >  Ledger .
• Select the required party ledger   from the List of Ledgers, or create a new one, as needed.
• Select the party Registration type and enter the  GSTIN/UIN .
• Assessee of Other Territory : Set this option to  Yes  if the party is belongs to Exclusive Economic Zone (Other Territory).
• Ignore prefixes and suffixes in Doc No. for reconciliation : If your party uses prefixes or suffixes in the Doc No. but your business does not use them, then it might cause mismatch during reconciliation. This option will help you ignore such prefixes or suffixes, and lead to a smooth reconciliation.
• Press  Ctrl + A  to save the details.

Update GST Rate in GST Ledger

• Press  Alt+G  (Go To) >  Create/Alter Master  >  Ledger  (under  Accounting Master ). Alternatively, go to  Gateway of Tally  >  Create/Alter  >  Ledger .
• Select the required duty ledger   from the List of Ledgers, or create a new one, as needed.

Set Up Expense or Income Ledger

• Direct Incomes / Indirect Incomes  for income.
• Direct Expenses / Indirect Expenses  for expenses.
• Set  Type of Ledger  as  Not Applicable .
• Set  Include in Assessable Value calculation  as  Not Applicable .
• Set  GST applicability  as   Not   Applicable .
• Accept the screen. As always, press  Ctrl+A  to save.

Set Up Discount Ledger for Stock Items or Services

• In the  Under  field, select  Indirect Expenses .
• Set  Type of Ledger  to  Discount .

Tax Rate Setup – GST Composition

TallyPrime gives you the facility to quickly set up GST rates for your stock items, using the GST Rate Setup option. Based on the rates defined, the tax amount is auto-calculated in the purchase invoice. These rates will not be considered for calculating the tax on sales.

For example, let us set GST rates for stock items.

• Press  Alt + G  (Go To) > type or select  GST Rate Setup  > and press  Enter . Alternatively,  Gateway of Tally  >  Display More Reports  >  GST Reports  >  GST Utilities  >  GST Rate Setup .
• To view the history of tax rate changes, press  Alt + W  (GST Rate Details (History)).
• In order to remove a tax rate, use the option  Alt + R  (Remove GST Details). You can clear the rate of multiple items by selecting them using Spacebar.

Using TallyPrime 2.1 or Earlier?

Click here.

If you are using the GST feature provided for regular dealers to maintain your books under the composition scheme, you can now start using the GST composition features.

To maintain books under GST composition, you need to:

Change Registration Type to Composition

Update sales ledger and record transactions.

• Create GST Ledgers
• Stock Items and Purchase Ledger
• Sales Invoice as Per GST Composition Rules

You need not make any changes to the stock item and purchase ledger. The title of the printed sales invoice appears as per the requirements of the GST composition rule.

• Press F11 (Features) > Enable Goods and Services Tax (GST)  – Yes .
• Set/alter GST details ? – Yes .
• Registration type – select as Composition .

If you are changing the registration type from regular to composition, the applicability date of GST regular registration will be retained. You can change the date as required.

• Total of taxable, exempt and nil rated sales.
• Total of purchases attracting reverse charge.
• Total of only the taxable sales.
• Enable tax rate for purchase – Yes . This allows you to enter the tax rate in the purchase ledger, for calculating tax on purchases from regular dealers and reverse charge transactions.

The updates when you change the registration type from regular to composition in TallyPrime are given below:

Create and Use GST Ledgers for Purchase

Stock Item and Purchase Ledger

The GST details configured in your stock item and purchase ledger will be retained, and you need not make any changes.

• The tax rates for your purchases will be taken from your stock item or purchase ledger.
• The tax rate for your sales to calculate the tax amount in GSTR-4 will be taken from the Company GST Details screen.

Sales Invoice as per GST Composition Rules

The title of the printed sales invoice appears as per the GST Composition rules. Before enabling the composition feature, if you had defined the invoice title in the sales invoice print configuration, it will be overwritten by the title provided as per GST rules.

GST Compliance for Composition Dealers

To record GST composition transactions, you have to activate GST and also update or create the required ledgers.

Activate GST for Composition Dealers

• Open the company for which you need to activate GST.
• Enable Goods and Services Tax (GST) – Yes .
• Set the Registration type as Composition .
• Set the option Assessee of Other Territory to Yes , if your business unit in located in the Exclusive Economic Zone (other territory).
• Specify GST Applicable from date. GST composition will be applicable for your transactions from this date onwards.
• Specify the GSTIN/UIN for the business. This can be printed in the invoices as required. You can specify this later.
• Press Alt+W (Details): Tax Rate History to provide the history of Tax Rates with the corresponding Applicable From date and Basis for Tax Calculation, as shown in the following example:
• The option e-Way Bill applicable is set to Yes , with the Applicable from date and Threshold limit .
• Select the value to be considered for e-Way Bill for the option Threshold limit includes.
• Set the option Applicable for intrastate to Yes , if it applies to your State and enter the Threshold limit .
• Yes , to enter the GST rate in the ledgers and stock items for calculating GST in transactions.
• Press Enter to save.

You can record transactions using the ledgers with GST details, and print invoices with GSTIN.

Create Stock Items and Ledgers

You can create the ledgers and stock items to record the transactions under the composition scheme of GST.

Sales Ledger

Purchase ledger, party ledger, expense or income ledger, discount – stock items, discount – services.

Use the stock items to maintain the details of each item handled in your business. You can specify the tax rate for calculating the tax on purchase in the stock item.

• Select Taxable , if it is taxable under GST.
• Select Exempt , if it is exempted from tax under GST.
• Select Nil Rated , if it attracts 0% tax rate under GST. To view the history of tax rate changes, press Alt+L .
• Select the Type of supply as Goods or Service . For a service, you can also use ledger to maintain the service details.

To modify the tax rates in alteration mode from a particular date, press Alt+W and enter the applicable date with the new tax rate. You can use these goods or services in purchase or sales invoice.

You need to create sales ledgers to use them in sales transactions.

• Select Sales Accounts from the List of Groups in the Under field.
• Is GST Applicable – Applicable .
• Set/alter GST Details – Yes .
• Select Taxable , if it is taxable under GST. The tax rate entered in the Company GST Details screen is applied for calculating the tax liability on the turnover.
• Services , if the ledger is used to record sale of service. By default the type of supply is set to Services .
• Goods if the ledger is used to record sale of goods.Press Enter to accept.

Use the purchase ledger for recording purchases . The GST rates defined in this ledger is applied for:

• Calculating the liability on taxable purchases attracting reverse charge.
• Auto calculation of tax in the invoice for taxable purchases (that do not attract reverse charge) from registered dealers.

Create purchase ledgers

• Select Purchase Accounts , from the List of Groups in the Under field.
• Services , if the ledger is used to record purchase of service. By default the type of supply is set to Services .
• Goods , if the ledger is used to record purchase of goods.
• Accept the screen. As always, you can press Ctrl+A to save.

Use party ledgers to maintain details of your parties.

• Open the ledger in alteration mode.
• Set the option Is GST Applicable? to Not Applicable , to consider it as a party ledger.

Create supplier or customer ledgers

• Enter the Name of the supplier or customer.
• Sundry Creditors for supplier
• Sundry Debtor for customer
• Set the option Maintain balances bill-by-bill  to Yes .
• Enter the Default credit period , if any.
• Set the option Inventory values are affected  to Yes , if required.
• Select the party Registration type , and enter the GSTIN/UIN .
• If the party is an Assessee of Other Territory , set it to Yes .
• Accept the screen. As always, you can press Ctrl+A to save. Similarly, you can create the required party ledgers.

GST Ledgers

Use the GST ledgers to calculate:

• Tax in the purchase invoice for purchases from registered regular dealers.
• Tax liability on the sales turnover and liability for purchases under reverse charge.

Create central, state, or integrated tax ledgers and cess ledger

• Select the Type of Ledger .
• Appropriate tax values in purchase invoice? – Yes to arrive at the purchase cost based on the GST rates specified for each stock item.
• Accept the screen. As always, you can press Ctrl+A to save. Similarly, create ledgers for Central Tax , Integrated Tax or Cess .

Use these ledgers for expenses or incomes which need to be shown in the invoice, like packaging, delivery, and so on, that form part of the item or service value.

• Direct Incomes / Indirect Incomes for income.
• Direct Expenses / Indirect Expenses for expenses.
• Type of Ledger – Not Applicable .
• Is GST Applicable? – Not Applicable .
• Include in assessable value calculation for – GST .
• Goods , for additional expenses or incomes on goods.
• Services , for additional expenses or incomes on services.

Use this ledger to specify the discount for stock items based on value or quantity, in your purchase and sales transactions.

• Set Type of Ledger to Discount .

Use this ledger to specify the discount on services.

• Is GST Applicable – Not Applicable
• Include in assessable value calculation for – GST
• Appropriate to – Services .

Tax Rate Setup-GST Composition

Quickly set up GST rates for your stock items, using the GST Rate Setup option. Based on the rates defined, the tax amount is auto calculated in the purchase invoice. These rates will not be considered for calculating the tax on sales.

You must enable GST in your company to provide the GST rates. You can also set the GST rates for a particular price range or slab rate for multiple stock items. Alternatively, you can define tax rate for each stock item from the stock item master.

Set GST rates for stock items

• To view the history of tax rate changes, press Alt + L .
• To specify further GST-related details, press F12 (Configure. In order to remove a tax rate, use the option Ctrl + C . You can clear rate of multiple items by selecting them using Spacebar.

Related Topics

• How to Record Purchases Under GST Composition in TallyPrime
• Prerequisite for Using GST in TallyPrime (Composition)
• How to Record Sales Under Composition GST in TallyPrime
• How to Set Up TallyPrime for GST (Regular - SEZ)
• How to Set GST Rate in TallyPrime

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Level up your accounting knowledge with TallyPrime v3.0 with GST! This Tally GST Course with enhanced GST management, flexible tax rates, and multi-GST company support helps you to keep ahead in the job competition. This course also guides you through every feature from inventory control to payroll processing. Say goodbye to accounting anxieties and hello to confident financial management – this combo is your key to future success!

Course Objectives

This comprehensive Tally Prime course will equip you with the knowledge and skills needed to manage your business finances efficiently and navigate the complexities of the Indian Goods and Services Tax (GST) regime.

• Company setup and configuration
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• Accounting fundamentals and transaction recording
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• In-depth understanding of GST concepts and rules
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There are no prerequisites for this course. However, it is helpful to have a basic understanding of accounting concepts.

Who Should Enroll in Tally Prime Course?

This Tally Prime Course is ideal for:

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Your training will be completed once you take the final exam

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What to expect with Tally GST Course?

Upon completion of Tally Prime GST course, you will be able to:

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• Create and set up files under TallyPrime
• Create ledgers and groups with a complete understanding of accounts and tax
• Pass journal entries and create reports and analysis online.
• Infer tax implications for Income Tax, TDS and GST within transactions.
• Other practical approaches of advanced Tally courses in India

Module Benefit

• Understand the fundamentals of Tally Prime software.
• Set up your company profile, including address, financial year, and currency.
• Configure various masters like groups, ledgers, vouchers, and stock items.
• Learn essential data maintenance practices for accurate record-keeping.
• Track business expenses efficiently by setting up cost centers and cost categories.
• Allocate expenditures accurately to different departments or projects.
• Generate detailed reports to analyze cost drivers and optimize performance.
• Master the basics of double-entry accounting principles.
• Record various business transactions like purchases, sales, receipts, and payments.
• Reconcile bank statements and maintain journal entries for complete financial picture.
• Control your stock levels effectively by setting up items, units, and inventory locations.
• Track purchases, sales, and adjustments, and generate real-time stock reports.
• Utilize features like purchase orders, invoices, and delivery challans for seamless inventory flow.
• Define the components required for production in a Bill of Materials (BOM).
• Track material consumption and update inventory levels during production.
• Manage costs and optimize production processes with efficient BOM management.
• Streamline your purchasing process with purchase orders, quotations, and vendor bills.
• Manage sales effectively with sales orders, invoices, and delivery challans.
• Apply appropriate GST rates and track tax liabilities at every stage.
• Understand the key concepts of GST, including taxable supplies, exemptions, and rate structures.
• Learn about Input Tax Credit (ITC) mechanism and its impact on your business.
• Stay updated on the latest GST rules and regulations.
• Configure your GST settings in Tally Prime for accurate tax calculations.
• Generate GST returns (GSTR-1, GSTR-3B, etc.) directly from the software.
• Manage e-way bills and ensure smooth transportation of goods.
• Understand the different types of GST returns applicable to your business.
• Learn how to prepare and file returns accurately and timely through Tally Prime.
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• Understand how TDS works and identify situations where it is applicable.
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• Set up employee Provident Fund (PF) accounts and contributions in Tally Prime.
• Calculate PF deductions and deposits accurately.
• Generate PF reports and comply with PF regulations seamlessly.
• Learn how to regularly backup your Tally Prime data for disaster recovery.
• Restore your data efficiently in case of any technical issues or data loss.
• Maintain data security and integrity for peace of mind.
• Understand the Employee's State Insurance (ESI) scheme and its applicability.
• Calculate ESI contributions and deductions accurately in Tally Prime.
• Generate ESI reports and comply with ESI regulations efficiently.
• Master the essentials of payroll processing in Tally Prime.
• Configure employee profiles, salaries, and deductions.
• Generate payslips, calculate taxes, and manage compliance requirements.
• Set up user accounts and define role-based access permissions for data security.
• Maintain audit trails and monitor user activities for transparency.
• Implement data encryption and backup routines for enhanced security.
• Access a wide range of reports in Tally Prime for various aspects of your business.
• Analyze financial performance, inventory levels, GST liabilities, and other key metrics.
• Use reports to make informed business decisions and identify areas for improvement.

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Add reviews., frequently asked questions, can i learn how to use accounting software like tally for gst compliance in this course.

Yes, many GST training programs include practical sessions on using accounting software like Tally for GST compliance, helping you gain hands-on experience.

What is Tally and why should I learn it?

Tally is an accounting software widely used for financial management. Learning Tally can enhance your accounting skills and career prospects in finance-related roles. At ICA, you will learn TallyPrime Release 3.0, the most advanced version of Tally.

Do I need any prior accounting knowledge to join the Tally course?

While prior accounting knowledge can be helpful, most Tally courses start with the basics, making it accessible even for beginners.

What will I learn in this Tally training course?

The course covers various aspects, including creating ledgers, managing inventory, generating financial reports, handling taxation, and using TallyPrime software effectively.

Is the Tally course suitable for non-finance professionals?

Absolutely! Tally is user-friendly and beneficial for individuals across various domains who need to manage finances.

What are the job prospects after completing the Tally course?

Completing a Tally course can open opportunities in accounting, finance, audit, taxation, and administrative roles across industries.

What are the benefits of TallyPrime over older versions?

TallyPrime offers a more modern and user-friendly interface with improved features.

Will Tally training cover advanced topics like GST updates and changes?

Yes, we cover advanced topics like GST updates, tax changes, and other relevant industry developments.

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