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Regular Dealers! Activate GST in Tally

Tally prime (latest version) includes an essential GST setting that eliminates the need for manual data entry. Tally assists businesses in integrating the required GST feature configuration to automate the time-consuming process of manual calculations and data entry. You must first enable the GST feature in Tally Prime before using it for GST compliance. Once … Read more

Record Inward Supply Under Reverse Charge (RCM)

Record Inward Supply Under Reverse Charge (RCM) Every registered person is aware of the implications of RCM; they are the ones who must pay the tax when transacting with an unregistered person or a person/service from the GST Council’s notified category. Tally Prime allows you to record inward supplies that are subject to reverse charge … Read more

Update Service Ledgers

Tally Prime allows you to update a GST service ledger. You must modify your service ledgers to update taxes and other GST details for your service items. Tally solutions offer GST features for service transactions that attract taxes as well; however, in order to access them, you must first complete the following steps: Gateway of … Read more

Create Party Ledgers for GST

In Tally Prime, you can create GST party ledgers for the parties with whom you buy and sell goods and services, complete with GST registration information. Depending on the party type, you can create a supplier Ledger, a customer Ledger, and enter the GSTIN/UIN. GST rates can be set in the ledger under non-revenue accounts … Read more

Create GST Ledgers

Under GST in Tally Prime, you can create accounts for various taxes (central tax, state tax, UT tax, integrated tax, and cess), for which you must create GST ledgers or tax ledgers for each tax type. The GST that your company pays in the normal course of business, are the number of ledgers that you … Read more

Composition Dealers! Activate GST in Tally

Compositions dealers must comply with fewer regulations, are not required to use a predefined format of GST tax invoice, are not required to enter the credit chain, and must file fewer returns. Despite this, composition dealers must follow a set of rules and regulations. Assesses must keep accurate books and records in order to calculate … Read more