How to Activate/Enable GST for composition dealer in Tally Prime?
Step: GOT > F11
Activate the Option “Enable Goods & Services Tax (GST)”, Like that Following Screenshot:
Ø Press ‘Enter’ to filling all GST details
After Pressing Enter GST details of company, screen appear like following screenshot:
Ø Fill all GST details for Company like,
· State – Select your state from list. By default shows the State name as selected in the Company Creation screen. This helps in identifying local and interstate transactions according to the party’s state. Like I select “Bihar”.
· Registration Type – Tally provides accounting for both regular and composition dealers. Like, I Select “Composition”.
· Assessee of Other Territory – This option is useful for those business units located inside the SEZ (Special economic zones) & EEZ (Exclusive economic zones). Like, I Set to “No”.
· GST applicable from – Enter the date you want to start using or Implement GST in Tally Prime. You cannot use GST transactions before to this date. Like, I enter “01/04/2020”.
· GSTIN/UIN – Enter your right GSTIN/UIN Number here which is given by GST department. Tally will warn you in case you entered a wrong GSTIN. This GSTIN/UIN number printed in your Invoice. Like, I Type “10LKDFG2345K1Z2”.
· Tax rate for taxable turnover – Type tax rate applied on you. If you are traders or manufacture then type “1%” and if you are service providers then type “6%”. Like I type “1%”.
· Basis for tax calculation – Select right one from them. If you are Manufacturer then select “Taxable value” and if you are Traders or Services providers then select option “Taxable, Exempt and Nil rated values”. Like I select “Taxable value”.
· Enable tax rate for purchase (Includes purchase under RCM) – If you want to purchase goods or services from regular dealer and under RCM then set to this option “Yes”. Like I set to this option “Yes”.
· e-Way Bill applicable – If you are registered person or Transporter of goods and you transport goods by Road, Rail, air etc whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) then enable this option to generate e-way bill to your business. Like I set to option “Yes”.
· Applicable from – Type date from which you apply e-way bill in Tally for your Business. Like, I apply e-way bill from date “01/04/2020”.
· Threshold limit includes – Here, there are three option available for generate e-way bill, you can take any option for generate e-way bill. It’s your desire to generate e-way bill on the basis of Total “Invoice value”, on the basis of total “Taxable and Exempt goods Value” or on the basis of Total “Taxable goods value”. Like I l choose “Invoice Value”.
· Threshold limit – Type Minimum Limit value to Generate e-way bill for you Business, By Default its value is 50,000. If you can want change in special case then change by manual. Like, I leave it by default value 50,000.
· Applicable for Intra-state – If you also apply e-way bill for within a state then Set this
option to “Yes”. Like I set this option “Yes”.
· Threshold limit – If you enable the option “Applicable for Intra-state” then type minimum value to generate E-way bill within a State. Leave it by default value “50000”.
Ø After filling all Above detail like I fill then Screen of the GST detail setup look like this following screenshot:
Ø Press “Ctrl+A” or “Enter” for save GST details screen.
Ø Again Press “Ctrl+A” for save Company features screen