How to Activate/Enable GST for Regular 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
Ø 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 “Regular”
· 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 “10ASDFG2345K1Z2”
· Periodicity of GSTR-1 – Business with less than 1.5 crores shall file a quarterly return and business with above 1.5 crores shall file monthly. I select “Monthly”
· Set/Alter GST rate details – You can set GST rate details here. Only if you have a single tax rate Goods or Services commodity transaction in your business.
Ø If you “Set/Alter GST rate details” set to Yes, Tally will open another screen where you can enter GST rate details like following screenshot:
Ø Fill details like, description, HSN/SAC code, Type of Goods/services and tax rate of GST goods. if your business transaction in single Goods/Services GST rate.
I set to “No’ this option
· Enable tax liability on advance receipt – If you receive in advance amounts for supply of goods for services under GST then enable this option for calculation of GST tax on Advance receipt. Like I set to “Yes” this option.
· Enable tax liability on reverse charge (Purchase from unregistered dealer) – If you buy goods or services from Un-registered dealer under GST then enable this option for Calculate GST on Reverse Charge mechanism (RCM). Like I set to this option “Yes”.
· Enable GST classification – If you classify GST Goods/Services based on its Nature or GST tax rates for easier to create any stock-item under this classification. For example, you can create Television as classification. And under which you can create so many branded television stock item like, Sony TV, Philips TV With same tax rate. Like, I set to option “Yes”
· Provide LUT/Bond details – If you are a Exporter of Goods/Services to other country and you have also a LUT/Bond certificate then Enable option for you can Export without Payment of GST tax.
Ø After set to “Yes” of this option screen will appear like this following screenshot:
Here you can enter your LUT/Bond Number & its Validity period which is given by GST Portal. Like I set to this Option “No”.
· 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 “No”.
· Threshold limit – If you enable the option “Applicable for Intra-state” then type
minimum value to generate E-way bill within a State.
· e-Invoicing applicable –If your business turnover exceeds by Rs 100 Crores then you must be generate e-Invoice. If you want to generate e-invoice by using tally prime then you set to this option “Yes”. Like I set to option “Yes”
· Applicable from – Type date from which you apply e-invoicing features in Tally Prime.
Like I type “01/01/2021”.
· Bill from place – Enter your location (State) from which you create e-Invoice. Like, I
· Default period for e-Invoice report – This option ask you to how many days you take to upload e-invoice on GST portal .By default, it is 3 Days. If you want to change it then you can change by manually. Like, I leave it by default.
· Send e-Way Bill details with e-Invoice – If you want to send e-way bill details in time of generating e-Invoice by using tally Prime then this option set to “Yes”. Like I set to this option “Yes”.
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. Again Press “Ctrl+A” for save Company features screen