ADVANCED TALLY WITH GST

Q: Create a Company in Tally Prime using the following particulars:

i. Name: __________________________________
ii. Your Address, Your Phone & Mobile No., Your Email ID
iii. Financial Year: 2022-2023
iv. Currency Symbol: ₹
Specific Instructions
The business is a registered organization for GST with an office in Delhi.
GSTIN: 07GGGGG1314R9Z6
All purchase and sales transactions of goods, Payments to creditors, and receipts from debtors
are made through the State Bank of India.
Any other payments and receipts are made through Punjab National Bank.
GST of 12% is applicable on all inventory-related items.
Skip date and narration while passing voucher entries.
Balance Sheet as at 31-3-2022
Liabilities Amount Assets Amount
Capital 20,00,000 Land and Building 15,00,000
General Reserve 10,00,000 Plant and Machinery 18,00,000
Profit and Loss account 8,00,000 Furniture 1,70,000
Unsecured loan 2,00,000 Investments 80,000
Debentures 2,50,000 Cash in hand 30,000
Creditors 2,50,000 Punjab National Bank 2,25,000
Bills Payable 75,000 State Bank of India 1,75,000
Provision for Tax 33,000 Prepaid Insurance 5,000
Salaries Outstanding 25,000 Stock 3,95,000
Rent Outstanding 37,000 Bills Receivable 85,000
Debtors 2,05,000
46,70,000 46,70,000

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 The company deals in the following goods:
Items Group Quantity Price (Rs.) Amount (Rs)
Lamp Philips 50 500 25,000
Bulbs Philips 500 120 60,000
Tube light Philips 400 200 80,000
Juicer Kenstar 80 1000 80,000
Mixer Kenstar 45 2000 90,000
Kettle Kenstar 100 600 60,000
Total 3,95,000

The list of the company’s debtors and creditors is as follows:

Debtors Amount Creditors Amount
Seema 30,000 Amit 85,000
Pooja 45,000 Sumit 95,000
Rahul 50,000 Naveen 70,000
Preeti 80,000
2,05,000 2,50,000

Record the following transactions from 1st April 2022 to 31st March 2023.
Rate per unit
S.No. Transaction Item Quantity
excluding GST
Purchased from Amit. Amit is a registered
1 Lamps 300 400
supplier from Delhi.
Sale to Rahul at a trade discount of 10%. He 300
2 Bulbs 350
is a registered supplier from Mumbai. (before discount)
3 Paid Rs. 1,00,000 to Amit in full settlement for the transaction at Sr. no. 1
4 Received from Rahul Rs. 90,000 for the full settlement of transaction at sr. no. 2
Purchased from Sumit, and he is not a
5 Mixers 20 @ Rs. 800 each
registered supplier.
Sale to Pooja from Punjab, and she is a
6 Bulbs 120 bulbs @ Rs. 400each
registered supplier
Purchased furniture from a registered supplier on 1st June 2022. The
7 25,000
applicable GST rate is 18%

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8 Paid to Sumit on account 25,000
9 Rohit, whose account was written off last year as bad debts, paid Rs.10,000 in cash.
Twenty Kettles were gifted to the daughter by the owner, while ten mixers valued @ Rs. 2000
10 got pilfered. These mixers were insured, and the company accepted the claim to the extent of
60%. The insurance claim is yet to be received.
Purchased a Building(GST exempted) from Bhushan Ltd for Rs. 7,00,000, settled the account
11 by taking a secured loan of Rs. 4,00,000, and issued fully paid secured debentures of Rs.
3,00,000 to Bhushan Ltd.
12 Sold total investments for Rs. 1,50,000.
Twenty items sold to Pooja under Transaction No. 6 were found defective and returned by her.
13

Paid
1. Electricity Bill(GST exempted)
2. Telephone Bill(Services have been used purely for
10,000 5,000
business)(Applicable GST rate 18%)
50,000
14 3. Salaries (including the opening balance of the outstanding salaries)
4. Rent(of the current year)
90,000
5. Insurance premium( 1st April 2022 to 31st March 2023)
5,000
(Applicable GST rate 18%)

Outstanding amounts at the end of the year (after adjusting the opening
balances):
15
1. Total Salaries outstanding 20,000
2. Total rent outstanding 25,000

Prepaid expenses relate to the current year, 2022-23. Charge Depreciation on furniture @10% p.a.

You are required to:-

1. Create a company as per the details given above.
2. Create appropriate Groups and Ledger Accounts.
3. Enter the transactions as given, selecting an appropriate type of voucher.
4. Export the following statements as on 31st March 2023 in PDF format (Detailed & Horizontal
View) and save it in a Folder. a. Cash Book
b. Ledger accounts
c. Day Book
d. Trial Balance
e. Statement of Profit and Loss
f. Balance Sheet

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