Composition dealer Purchase Accounting in Tally Prime?
· Composition dealer can do following purchased:
1. Composition dealer can purchase goods or services from local regular dealer with paying GST tax.
2. Composition dealer can purchase goods or services from Interstate regular dealer with paying GST tax.
3. Composition dealer can purchase goods or services from local Composition dealer without paying GST tax.
4. Composition dealer can purchase goods or services from local unregistered dealer with paying GST tax to Government under RCM provision.
5. Composition dealer can purchase certain goods or services which are defined under RCM supplies from any registered dealer with paying GST tax to Government under RCM provision.
1. Condition 1: Composition Purchase Goods from Regular Dealer Entry
Step: GOT > Voucher > F9 > Ctrl+H > Item Invoice
Ø For entry in Purchase voucher under GST fill all details like’
· Supplier invoice No: Type Supplier Invoice or Bill Number Like I type ‘DK11’
· Date – Type date of Purchase transactions by pressing F2, like I type ’01/04/2020′
· Party A/c Name – Select your Regular Supplier Like I select “Suresh Sharma (Reg.) Supplier”.
· Purchase Ledger – Select Purchase ledger, like I select ‘Purchase A/c’
· Name of Item – Select Taxable Stock Item like I select ‘Dell Laptop’
· Location – Select the Godown for Store Item. Like I select “Sasaram Godown”.
· Quantity – type number of Dell Laptop Purchase. Like I type ’10 Pcs.’
· Rate – Type rate of one Dell laptop. Like I type ‘20,000’
Ø After filling above details Press 2 times enter from Item column & select GST tax expense ledger form list.
Note: Apply GST Tax expense ledger according Supplier’s State. If Supplier’s state is same (Intra- State) then apply CGST+SGST both. If Supplier’s state are different (Inter-State) from us then Apply IGST only.
· Select CGST and SGST in Ledger column
Ø
After filling all Above details screen of Purchase ledger will shown like this following screenshot:
Ø Practice exercise for Purchase Goods from Regular Dealer Entry, for you.
· Supplier invoice No: DK25
· Date –02/04/2020
· Party A/c Name – Rajesh Gupta
· Purchase Ledger – Purchase A/c
· Name of Item – Hp Laptop
· Location – Patna Godown
· Quantity – 12 Pcs
· Rate – 21000
· Tax Ledger – IGST
2. Condition 2: Composition Purchase Goods from Composition Dealer Entry
Step: GOT > Voucher > F9 > Ctrl+H > Item Invoice
Ø For entry in Purchase voucher under GST fill all details like’
· Supplier invoice No: Type Supplier Invoice or Bill Number Like I type ‘DK12’
· Date – Type date of Purchase transactions by pressing F2, like I type ’01/04/2020′
· Party A/c Name – Select your Composition Supplier Like I select “Dhiraj Sharma (Compo) Supplier”.
· Purchase Ledger – Select Purchase ledger, like I select ‘Purchase A/c’
· Name of Item – Select Taxable Stock Item like I select ‘Dell Laptop’
· Location – Select the Godown for Store Item. Like I select “Sasaram Godown”.
· Quantity – type number of Dell Laptop Purchase. Like I type ’10 Pcs.’
· Rate – Type rate of one Dell laptop. Like I type ‘20,000’
Note: Composition dealer cannot issue tax invoice so entry of purchase from composition dealer will be without tax.
Ø After filling all Above details screen of Purchase ledger will shown like this following screenshot:
Ø Practice exercise for Purchase Goods from Composition Dealer Entry, for you.
· Supplier invoice No: DK26
· Date –02/04/2020
· Party A/c Name – Sohan Prasad
· Purchase Ledger – Purchase A/c
· Name of Item – Hp Laptop
· Location – Patna Godown
· Quantity – 12 Pcs
· Rate – 21000
3. Condition 3: Composition Purchase Goods from Unregister Dealer Entry
Step: GOT > Voucher > F9 > Ctrl+H > Item Invoice
Ø For entry in Purchase voucher under GST fill all details like’
· Supplier invoice No: Type Supplier Invoice or Bill Number Like I type ‘DK13’
· Date – Type date of Purchase transactions by pressing F2, like I type ’01/04/2020′
· Party A/c Name – Select your Composition Supplier Like I select “Ajit Sharma (URD) Supplier”.
· Purchase Ledger – Select Purchase ledger, like I select ‘Purchase A/c’
· Name of Item – Select Taxable Stock Item like I select ‘Dell Laptop’
· Location – Select the Godown for Store Item. Like I select “Sasaram Godown”.
· Quantity – type number of Dell Laptop Purchase. Like I type ’10 Pcs.’
· Rate – Type rate of one Dell laptop. Like I type ‘20,000’
Note: Unregister dealer cannot issue tax invoice so entry of purchase from Unregister dealer will be without tax.
Ø After filling all Above details screen of Purchase ledger will shown like this following screenshot:
Ø Practice exercise for Purchase Goods from Unregister Dealer Entry, for you.
· Supplier invoice No: DK26
· Date –02/04/2020
· Party A/c Name – Aman Prasad (URD)
· Purchase Ledger – Purchase A/c
· Name of Item – Hp Laptop
· Location – Patna Godown
· Quantity – 12 Pcs Rate – 21000
