In this session You will learn how to activate GST in Tally ERP 9. Once activated, You can enter GST Registration details like GSTIN/UIN, Registration type Like regular dealer or composition dealer, Periodicity of Submitting GSTR-1 return; that is monthly or quarterly, E-way bill details etc. Tally provides you convenience of setting GST rates & HSN/SAC codes at various levels of tally based on the number of items you are dealing with.
Enable gst for Regular dealer
Open company you want GST to be used.
1. Press F11 Features ,This will show you a company feature menu
2. Press F3: Statutory button will display statutory & taxation screen.
In the screen you will find options,
Enable goods and service tax (GST) : Yes
Set/alter GST Details : Yes
This will display another screen where you can input GST Details of the company.
State
State selected here will help tally to identifying local sales and interstate sales. The state you selected should be the state you selected at company details while creating comapny. Make sure that there is no mismatch.
Registration type
There are two types of registration under GST. One is a regular dealer registration having a turnover of 1.5 crore and more. Composition dealers are having a turnover of less than 1.5 crore in previous year. Taking composition registration is not mandatory, it is optional and depends on the decision of the dealer.
Assessee of other territory
This option is applicable for those business units located inside the SEZ( Special economic zones) EEZ ( Exclusive economic zones). The sale and purchase are treated similar to interstate transactions and Integrated tax under GST is applicable.
GSTIN/UIN
All the business registered under GST regime will be issued a unique identification number called GSTIN or Goods and service tax identification number. Which contain letter and alphabets. Enter the GSTIN or UIN .GSTIN and UIN is the same number issued by the department called in two different name. Tally will warn you in case you entered a wrong GSTIN.
Applicable from
Goods and service tax implemented in 01-07-2017. Enter the date you want to start using GST in tally. You cannot use GST vouchers prior to this date. Type the date you want to start using GST in tally. For example ABC ltd got GST registered on 20-06-2018, then use 20-06-2018Periodicity of GSTR-1
Business with less than 1.5 crore shall file a quarterly return and business with above 1.5 crore shall file monthly.
e-way bill applicable
E-way bill is an electronically generated transport document of goods when the value of goods is more than 50000.00
If e-way bill applicable to your business, you will be asked for e-way bill applicable from and e-way bill threshold. 50000 is displayed by default and you can change in special cases.You can also specify the value of Threshold limit includes and can opt e-way bill applicable for interstate transactions.
Enable tax liability on advance receipts:
You can enable tax calculation on advance receipt.by default this option is disabled.
Enable tax liability on reverse charge
You can enable tax liability on reverse charge or purchase from unregistered dealer, Import purchases, purchase from notified goods which are applicable to reverse charges.
Set/alter GST rate Details
If you set this Yes, Tally will open another screen where you can enter GST rate details. You can set rate details here only if you have a single tax rate commodity . You will get to know more about set alter GST rate here.
Enable GST Classification
This allows you to classify GST Goods based on its nature and % tax. For example You can create biscuit as classification. and under which your can create so many stock item like Tiger Biscuit, Parle-G With same tax rate. We will have a detailed tutorial on this in coming sessions.
Provide LUT/Bond Detail
This is the bond for giving surety to pay tax integrated tax payable on export. The details like bond No & Validity shall be mentioned here.
Activate GST for composition dealer
For activating GST For composition dealer, You need to go to same screen of company features F11 > F3 Statutory.
Registration type shall be selected” composition”
Enter GSTIN, Applicable from, tax rate of composition based on notification.
Enable eway bill if applicable.
Enable tax rate for purchase : By enabling this, you can enter gst rate for stock items created. Normally there is no need of it as the composition dealer cannot collect tax from customer.
