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Tally Notes Compelted Final
Tally Notes Compelted Final
TALLY PRIME
prime
We will learn Tally. ERP 9 With GST with help of Level wise structure.
TALLY PRIME
(a) (a)
(a) (a)
TALLY GST
ACCOUNTS INFO INVENTORY INFO
INFORMATION ACTIVATION
(b)
(b) (b)
ALT +F1 (b)
ACCOUNTING INVENTORY
COMPANY GST LEDGERS
VOUCHER VOUCHER
INFORMATION
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
TALLY INTRODUCTION
LEVEL-1 (TOPIC-A) TALLY INFORMATION
Tally ERP 9 is accounting software that has been used to record several financial transactions and events.
As it is a multi-functional software, it includes inventory management, accounting, and payroll preparation.
Tally is an ERP accounting software package that is used to record day to day business data of a company.
What Is Accounting? Accounting is the process of recording financial transactions pertaining to a business.
The accounting process includes summarizing, analyzing, and reporting these transactions to oversight
agencies, regulators, and tax collection entities.
Tally ERP 9 Software is one of the most financial accounting systems used in India. For small and medium
enterprises, it is complete enterprise software.
History:- Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka
and his son Bharat Goenka and incorporated in 1991. Shyam Sundar Goenka was running a company that
supplied raw materials and machine parts to plants and textile mills in southern and eastern India.
Tally ERP.9 stands for Tally Enterprises Resources Planning.
Title Bar: This is used to display the Tally software that we are using.
Minimize, Maximize, Close.
Horizontal Button Bar. It helps to choose Keyboard settings, support centre, Language, Control centre, and
Help.
Current Access (left hand side): provides information on Current Period, Current Date and List of Selected
Companies.
Gateway of Tally (right hand side): It is used to display the menu, screen, reports.
Buttons Tool Bar: It is used to display the buttons that enable for immediate interaction with Tally. It can
display only the buttons that are applicable to the current task.
Info Panel: Information panel is used to display the license details, configuration details, and tally version.
Calculation Area: It is used for calculation functions.
Date and Time: It is used to display the current date and time.
Status Bar: display current status of tally page
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Select Company
Select Company option allows you to load another company from the list of companies listed which you may
have created earlier.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Create Company
Creating a Company involves providing basic information about the company whose books of accounts are to be
maintained in Tally.
Backup
Backup Data. Taking a backup of your data at regular intervals helps retrieve your backed up data when your existing
data is lost.
Restore
You can restore the data of companies for which you have taken a backup. When your current company data
is lost or corrupted, you can restore your last backed up data using the Restore option in Tally.
Quit
It is use to close company after working. You can use esc button for quitting or closing company.
Shut Company
Shut a company in tally does not mean that delete a company, it means close. After you work with company. Or
if you opened many company and you want to remove them from current access.
Alter
In tally alter feature is use for modification and correction in details
If your company address, phone number, or any other contact information was not provided earlier or has
changed, you can update such details in Tally. ERP 9. Any changes made to these details will be reflected
accordingly in your reports and printed invoices.
Alter feature can also use for deletion (you can delete your company by pressing Alt+D on company alteration
screen. You can also check your folder code in company alter list.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
ACCOUNTING
LEVEL-2 (TOPIC-A) -ACCOUNTS INFO.
Groups
Groups are collection of ledgers of the same nature. Account groups are maintained to determine the hierarchy
of Ledger Accounts, which is helpful in determining and presenting meaningful and compliant reports. Using
this you can generate reports, which are meaningful as well as compliant with laws. Tally software provides
you with 28 pre-defined Groups. Of these 15 are Primary Groups and 13 are Sub-Groups. You can also create
your own groups, either as Sub-groups or Primary groups.
List of Groups
Bank Accounts Bank Occ A/C Bank Od A/C Branch/Divisions
Capital Account Cash In Hand Current Assets Current Liabilities
Deposit (Asset) Direct Expenses Direct Incomes Duties & Taxes
Expenses (Direct) Expenses (Indirect) Fixed Assets Income (Direct)
Income (Indirect) Indirect Expenses Indirect Incomes Investments
Loan & Advances (Asset) Loans (Liability) Misc. Expenses (Asset
Provision Purchase Accounts Reserves & Surplus Retained Earnings
Sales Accounts Secured Loans Stock-In-Hand Sundry Creditors
Sundry Debtors Suspense A/C Unsecured Loans
Ledgers
A ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For
example, purchase, payments, sales, receipts, and others accounts heads are ledger accounts. Without a ledger,
you cannot record any transaction. There are two Predefined Ledgers in tally
1) Cash Account 2) Profit And Loss Account
To create ledger step by step -> Go to Gateway of Tally > Accounts Info > Ledgers > Create. Enter
write Name for the ledger you want to create such as state tax, central tax, integrated tax, and stock item names
etc. Select the appropriate group to which such ledger belongs for example state tax under duties and taxes
group. You can also create ledger A/c directly on voucher screen by pressing Alt+C button from keyboard,
it will open ledger creation screen.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Here some important Group are explained with the help of Leader Example.
Cash-In Hand: tally. ERP 9 automatically creates cash a/c in this group. You can open more than one cash
account, if necessary. Ledger accounts like cash discount, petty cash etc.
Bank Account: this group use in all bank related transaction like cheque, debit card, credit card, internet
banking etc. Ledger of company’s different bank account create under this group
Example: - HDFC Bank a/c -> Bank Account
Direct Expenses: Examples of Direct Expenses are royalties charged on production, job charges, hire
charges for use of specific equipment for a specific job, cost of special designs or drawings for a job, software
services specifically required for a job, travelling Expenses for a specific job.
Example: - Charges of Ladies Bag Design -> Direct Expenses
Duties & Taxes: All government implemented taxes ledger can create with this group only.
Example: - CGST, SGSCT, IGST, VAT, TDS Etc. -> Duties & Taxes
Direct Incomes: Any Income from main service like. Freight Charges Income. Delivery Charges Income.
Transpiration Charges Income. (If your company is providing any service)
Example: - charges received from truck no 1 -> Direct Income
Fixed Assets: are the assets, which are responsible to generate revenue for business. They are the assets
which are owned by the company like plant and equipment and are reported in the balance sheet as non-
current assets under the headings, property, plant and machinery Fixed assets are long-term assets that a
company has purchased and is using for the production of its goods and services. Fixed assets are noncurrent
assets, meaning the assets have a useful life of more than one year.
Example: - machinery -> Fixed Assets
Indirect expenses: Indirect Expenses are those expenses that cannot be assigned directly to any activity
since these are completely incurred while operating a business or as a part of a business, examples of which
include business permits, rent, office expenses, telephone bills, depreciation, audit, and legal fees.
Example: - Office Expenses -> Indirect Expenses
Indirect Income: One that is gained from non-business activities is indirect income. Sales of old newspapers,
sales of cardboard boxes for instance, etc. or could be miscellaneous non-sale income accounts. Example:
Rent Received and Interest Received.
Example: - Appreciation on Asset -> Indirect Income
Purchase Account: The purchases account is a general ledger account in which is recorded the inventory
purchases of a business. This account is used to calculate the amount of inventory available for sale in a
periodic inventory system. All purchases made by company come under this account.
Example: - Purchase (Raw Material) -> Purchase Account
Sales Account: A sales account contains the record of all sales transactions. This includes both cash and
credit sales. The sales account concept can also refer to a current customer. Once sales are made to a
customer, it is known as a sales account. All sales made by company come under this account.
Example: - Sales (Leather Bag) -> Sales Account
Sundry Creditor: Any individual who is responsible for the supplies of the goods or services to another
business firm on credit basis, will be considered as sundry creditor by the firm who avails this facility parties
from whom you buy frequently can be placed under Sundry Creditors, as that is the natural place to look for
their account. Tally. ERP 9 does not restrict the accounts from having obverse balances. Thus, a Sundry
Debtor can have a credit balance depending on the state of his account.(suppliers of good & servicers)
Example: - Flourish Enterprises -> Sundry Creditor
Sundry Debtor: A person or company who receives goods or services from a business in credit or does not
make the payment immediately and is liable to pay the business in the future is called a Sundry Debtor.
(Consumer or buyer of good & services provides by company).
Example: - Sofi Leathers -> Sundry Debtor
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
VOUCHER
A voucher is a document that contains details of a financial transaction and is required for recording the same
into the books of accounts. The voucher entry menus options are available under Transactions in the Gateway of
Tally. You can simply say that in tally voucher is a page where you can record your daily transaction. So,
vouchers is use to record various types company’s transactions.
You can record transactions in accounting vouchers by implying golden rules of accountings, Debit the receiver and credit
the giver. Debit what comes in and credit what goes out. Debit expenses and losses, credit income and gains.
Tally also provide inventory voucher with stock managements. Tally have 22 primary vouchers but the number can be
increase if other features enabled
Accounting Voucher
Contra Voucher
When you do internal funds transfer from one bank account to other bank account or cash withdrawal from bank or
cash deposited in bank account in these cases you have to pass entry by using the contra voucher in Tally ERP9.
So there three types of internal fund transaction entry need to record in contra voucher.
1) Cash Deposit 2) Cash Withdraw 3) Cash Transfer
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Narration: Being cash Withdraw from HDFC Bank worth₹35000/- (write cheque number if require)
Narration: Being cash Withdraw from HDFC Bank worth₹5000/- (write Cheque number if require)
Payment Voucher
A payment voucher is a way to record payments made to suppliers and maintain a history of payments that
your business has made. In simple words Payment voucher is used to account all the payments made by the
company by way of Cash/Bank. In this voucher we can give payment to the party like sundry creditor and also
use for giving the payment for any operating expenses like, rent, bill, purchase any assets & etc.
In payment voucher cash/bank credit and operating expenses are debit as per requirement
To open> Gateway of Tally> Accounting Vouchers > F5: displays the Receipt Voucher.
1) Purchase Stationery In Cash Of₹1500
Dr> Stationery (Group> Indirect Expenses)
Cr> Cash (Group> Cash in Hand)
2) Paid Wages To Rakesh Kumar Of₹10,200/- By Cheque (Bank Of India)
Dr> Wages to Rakesh Kumar (Group Indirect Expenses)
Cr> Bank of India (Group Bank Account)
3) Purchase Raw Material By Cash Of₹15000/-
Dr> Purchase (Group> Purchase Account)
Cr> Cash (Group> Cash in Hand)
4) Paid Servicing Charges On Machinery By Cheque (Bank Of India)
Dr> Servicing Charges on Machinery (Group> Direct Expenses)
Cr> Bank of India (Group Bank Account)
5) Company Made Payment To RK Enterprises Of₹24000/- By Cheque(Bank Of India)
Dr> RK Enterprises (Group> Sundry Creditor)
Cr> Bank of India (Group>Bank Account)
Consider the example where the Company pays electricity bill by cheque of₹5000 (Bank of India) for this, you
need to debit the Electricity Bill (Indirect Expenses) and credit the Bank of India (Bank Account)
Narration: Being electricity bill PAID by cheque of₹5000/- (write Cheque number if require)
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Receipt voucher
If your company receives money from a customer for an earlier transaction say sales, and the same is passed
through a Receipt Voucher: Any money received from debtors against sales Invoices or on Account and for all
transactions where money is received like commission, rent interest & etc. Are accounted or entered into
Tally. ERP 9 using the Receipt Voucher.
In receipt voucher cash/bank debit and operating expenses credit are as per requirement
To open> Gateway of Tally> Accounting Vouchers > F6: displays the Receipt Voucher.
1) Received Cash From Mr. Sameer & Co. Of ₹5000
Cr > Mr. Sameer & Co. (Group>Sundry Debtor)
Dr > Cash (Group> Cash in Hand)
2) Sold Goods Of ₹20000/- To Zain & Groups. (Received Cash On The Spot)
Cr > Sales (Group>Sales Account)
Dr > Cash (Group> Cash in Hand)
3) Received Cheque (Bank of India) of ₹5000 From Sharma Pvt. Ltd.
Cr > Sharma Pvt. Ltd. (Group>Sundry Debtor)
Dr > Bank of India (Group Bank Account)
4) Ritik Received Startup Funds Of ₹45000
Cr > Ritik Capital A/C (Group>Capital Account)
Dr > Cash (Group> Cash in Hand)
Take example No. 3 in to consideration from above.
Narration: Being cheque received from Sharma Pvt. Ltd. of₹5000/- (write Cheque number if require)
Purchase voucher
When a company buys goods on credit or cash, Purchase voucher is used to record all the Purchase transactions
of the company. (In purchase voucher, purchase account always debited)
To open> Gateway of Tally > Accounting Vouchers >F9 Purchase. & press Ctrl +V for Voucher format.
(don’t, if purchase voucher already open in voucher format)
1) Purchase goods from Malhotra & Sons. Of ₹15000 on credit basis.
Cr > Malhotra & Sons (Group>Sundry Creditor)
Dr > Purchase (Group>Purchase Account)
2) Purchase goods from Rose Enterprises. Of ₹25000 on credit basis.
Cr > Rose Enterprises (Sundry Creditor)
Dr > Purchase (Group>Purchase Account)
Take example No. 1 in to consideration from above.
Narration: Being Purchase goods from Malhotra & Sons. Of ₹15000 on credit basis
Sales voucher
In sales voucher, you can record all transactions related to sales either in invoice mode or voucher mode, based
on the nature of the transaction or you can print the invoice and provide the invoice copy to your customer by
using the sales accounting voucher. (In sales voucher, sales account always credit)
To open> Gateway of Tally > Accounting Vouchers > F8 Sales. & press Ctrl +V for Sales voucher
format. (don’t, if sales already open in voucher format)
1) Sold goods to Madhuri Company. Of ₹20000 on credit basis.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Note: For using debit and credit notes in Tally, you would have enabled them.
To enable the option for debit and credit notes in Tally, follow the steps below.
From Gateway of Tally, press F11 – Shortcut for Company Features. Now select, Accounting Features.
Under Invoicing, set the option Use debit/credit notes to YES.
Journal voucher
Journal voucher in Tally is an important voucher which is used to make all kind of adjustment entries, credit
purchases or sales, fixed assets purchase entries. In simple word it is for adjustment between any two ledgers.
Rectification entries in which as any kind of adjustment for non-cash or bank transactions are recorded here.
To open> Gateway of Tally > Accounting Vouchers >F7: Journal voucher.
1) Purchase Stationery from Knowledge Shop. Of ₹7500 On Credit basis
Dr > Stationery (Group>Indirect Expenses)
Cr > Knowledge Shop (Group>Sundry Creditor)
2) Appreciation on Vintage Paintings Of ₹120000.
Dr > Appreciation (Group>Indirect Income)
Cr > Vintage Paintings (Fixed Assets)
3) Depreciation on Tata Mini Truck Of ₹60000.
Dr > Tata Mini Truck (Group>Fixed Assets)
Cr > Depreciation (Group>Indirect Expenses)
Take example No. 1 in to consideration from above.
Narration: Being Stationery Purchase from Knowledge Shop. Of ₹7500 On Credit basis.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
You can alter and convert a Memo voucher into a regular voucher when you decide to consider the entry into
your books, for this follow below steps.
Go to Gateway of Tally > Display > Exception Reports > Memorandum Vouchers. Note: You can also view
memorandum vouchers from the Day Book.
INVENTORY
Inventory is simply stock management, refers to the process of ordering, storing, using, and selling a
company's inventory Stock management system
Transaction Types
Inventory transactions are used to track the quantities & movements of inventories. It’s not just
your purchase or sale that becomes part of your inventory transaction types.
Inventory Classification
Inventory classification refers to the grouping of inventory for ease of identification, accessibility
and differentiation by the nature of the stock, value, durability, etc.
LEVEL-3 (TOPIC-A) – INVENTORY INFO
The Inventory Info menu, lists the inventory masters like Stock Group, Stock Items, Units of Measure of
the company, using which you can create, alter and display the inventory master details
Stock Group
In Tally, the stock group is used to help in the classification of stock
items according to their behavior. In Tally, the grouping of stocks
enables us to identify and report in a statement as per stock wise. Under
stock groups, the stocks can be grouped according to their product type,
characteristics, and brand, etc.
Stock Item
Stock Item refers to goods that you manufacture or trade. It is the
primary inventory entity and is the lowest level of information on your
inventory. You have to create a Stock Item in Tally. ERP 9 for each
inventory item that you want to account for
Units of Measure
Stock Items are mainly purchased and sold on the basis of quantity. The
quantity in turn is measured by units. In such cases, it is necessary to
create the Unit of Measure. The Units of Measure can either be simple or
compound. Examples of simple units are: nos., metres, kilograms, pieces
etc.
Example:
Stock Group Stock Item Units of Measure
21” Dell Monitor Nos (Numbers)
LED Monitor 25” Logitech Monitor Nos (Numbers)
40” BenQ Monitor Nos (Numbers)
A1 Printer Nos (Numbers)
Laser Printer InfoTech Printer Nos (Numbers)
AV Printer Nos (Numbers)
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Select the required Inventory item created, and specify the quantities and rates.
You can record purchase bill invoice as below.
Sales Invoice:
A document that a person or company send to buyers, when they sale something, giving details of price,
payment conditions, etc.:
Pass a sales Invoice against sales of A1 Printer (Laser Printer) 5 Nos. @₹.6000/= per quantity to Rose
Enterprises.
Dr > SV Enterprises (Group>Sundry Debtor)
Cr > Sales (Group>Sales Account)
Go to Gateway of Tally > Accounting Vouchers/inventory voucher > F8 Sales.
Enter reference no.
In the Party A/c name column, select the party ledger (Buyer Name) or the cash ledger.
Select the relevant sales ledger. (if GST enable Inter State/Intra State sales A/c)
Select the required Inventory item created, and specify the quantities and rates.
You can create sales bill invoice as below.
You can print this bill by pressing Alt+P and press Alt+I (if print preview is not visible)
DO IT YOURSELF
Company received Credit Note from SV Enterprises against sales of Reference no. S01 - A1 Printer (Laser
Printer) 1 Nos. @₹.6000/- (Sales Return)
Company send Debit Note Rose Enterprises to against purchase of Invoice no P01 - A1 Printer (Laser
Printer) 1 Nos. @₹.5000/- (Purchase Return)
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
GST
GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a
multi-stage, destination-oriented tax imposed on every value addition, which managed to replace
multiple indirect taxes, including VAT, excise duty, service taxes, etc.
The 4 types of GST in India are:
SGST (State Goods and Services Tax)
CGST (Central Goods and Services Tax)
IGST (Integrated Goods and Services Tax)
UGST (Union Territory Goods and Services Tax)
IGST, CGST, and SGST are categories of Goods and Service Tax. IGST applies to interstate transactions
and CGST and SGST to intrastate transactions. IGST is collected together and distributed to the Central
and State Governments. SGST and CGST are collected directly by the Central and State Governments.
What is IGST with Example?
What is Integrated Goods and Services Tax (IGST)? Under GST, IGST is a tax levied on all Inter-State
supplies of goods and/or services and will be governed by the IGST Act. IGST will be applicable on any
supply of goods and/or services in both cases of import into India and export from India.
IGST is charged when movement of goods and services from one state to another. For example, if goods
are moved from Tamil Nadu to Kerala, IGST is levied on such goods. The revenue out of IGST is shared
by state government and central government as per the rates fixed by the authorities
Features of IGST.
It is a destination based tax and will accrue to importing state. It will lower tax burden by taxing Inter-
State transaction only once. B2B transactions – tax will flow to the State where Purchaser claims Input
Tax Credit.
What is CGST & SGST with Example?
CGST stands for Central Goods and Services Tax. It subsumes all the taxes that were earlier applicable
as central indirect taxes. They are levied by the central government for intrastate movement of goods
and services. This tax levy is governed by the Central Goods and Services Tax (CGST) Act.
SGST State Goods and Services is an indirect tax levied and collected by a State Government on the
intra-state supplies. Such supplies do not include alcoholic liquor for human consumption.
Furthermore, this tax levy is governed by the State Goods and Services Tax (SGST) Act.
For example, a person made intra-state sales of ₹. 1 lakh in January and collected CGST of ₹. 2,500 and SGST of₹.
2,500 at the rate of 5%.
In India, almost 500+ services and over 1300 products fall under the 4 major GST slabs. These comprise rates
of 5%, 12%, 18%, and 28%. The GST Council periodically revises the items under each slab rate to adjust them
according to industry demands and market trends. Essential items are either exempted or taxed at the lowest
slab, while luxury and demerit items attract the highest slab. Luxury and sin goods attract cess on top of the
highest 28 per cent slab.
Nil rated
The GST act contains the goods which are nil-rated supply. For example, cereals, fresh fruits, and vegetables, salt,
natural honey, milk, Grains, Jaggery human blood etc. No input tax credit of inputs and/or input services used in
providing nil rated supply is available.
Exempted
It is the supply of goods and services that does not attract GST and allows no claim on ITC. Example: Bread, fresh
fruits, fresh milk and curd etc. Exempt supply is defined in section 2(47) of GST Act.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Record purchase interstate transaction, invoice of LG washing machine 10 Nos. @₹.35000/= per
quantity with 18% IGST charges from SK Technology (Baroda, Gujrat).
For above scenario you need create party account ledger and relevant purchase ledger. Follow the steps below
Go to Gateway of Tally > Accounting Vouchers/inventory voucher > F9 Purchase.
Enter supplier invoice no. in date column enter invoice date
In the Party A/c name column, select the party ledger. If already created if not, then follow below steps.
On ledger creation screen> Name> SK Technology, under group> sundry creditor, mailing details> enter
mailing name, address, country>India, state> Gujrat, provide bank details (if you have), in tax registration
details, enter PAN Number, registration type and GSTIN/UIN, (you can set & alter GST rate here specifically.
If require) accept it.
Select the relevant Purchase ledger. If already created if not, then follow below steps.
Name> Purchase Interstate, under group> Purchase Account, in statutory Information > Is GST
Applicable> Applicable,
(You can set & alter GST rate here specifically. If require), In Type of Supply > Goods. Accept it.
Select or create the required Inventory item i.e. LG washing machine (with GST applicability), and specify
the quantities (10Nos.) and rates (Rs.35000).
Now select IGST Ledger, If already created if not, then follow below steps.
Name> IGST, under group> Duties & taxes, in Type of Duties/taxes > GST, in Tax Type>Integrated tax.
Tally will automatically calculate 18% GST rate (if already set & alter GST rate details in GST activation)
Create Sales interstate transaction, invoice of LG washing machine 10 Nos. @₹.40000/= per quantity
with 18% IGST charges to Flourish Pvt. Ltd (Punjab).
For above scenario you need create party account ledger and relevant Sales ledger. Follow the steps below
Go to Gateway of Tally > Accounting Vouchers/inventory voucher > F8 Sales.
Enter Reference No.
In the Party A/c name column, select the party ledger. If already created if not, then follow below steps.
On ledger creation screen> Name> Flourish Pvt. Ltd, under group> sundry debtors, mailing details> enter
mailing name, address, country>India, state> Punjab, provide bank details (if you have), in tax registration
details, enter PAN Number, registration type and GSTIN/UIN, (you can set & alter GST rate here specifically.
If require) accept it.
Select the relevant Sales ledger. If already created if not, then follow below steps.
Name>Sales Interstate, under group>Sales Account, in statutory Information >Is GST Applicable>Applicable
(You can set & alter GST rate here specifically. If require), In Type of Supply> Goods. Accept it.
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
Select or create the required Inventory item i.e. LG washing machine (with GST applicability), and specify the
quantities (10Nos.) and rates (Rs.40000).
Now select IGST Ledger, If already created if not, then follow below steps.
Name> IGST, under group> Duties & taxes, in Type of Duties/taxes > GST, in Tax Type>Integrated tax.
Now record receipt entry as below.
Now you can see ITC return amount and (GST payable) in balance sheet.
Go to Gateway of Tally >balance sheet> press Alt+F1 you can see Duties & Taxes, Press Enter now IGST is appear
on Credit side (GST payable).
Here ITC is calculated like this
ITC = Total GST received on LG washing machine - Total IGST paid on LG washing machine
ITC = 72000-63000= 9000
To record IGST payment Go to Gateway of Tally > Accounting Vouchers > F5 Payment>press F12 Configuration,
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NARENDRA CHHAYA COMPUTER INSTITUTE (28210046)- MUKUND NAGAR DHARAVI-17
DO IT YOURSELF
Record purchase intrastate transaction, invoice of Dell Laptops 10 Nos. @₹.25000/= per quantity with 18% CGST
& SGST charges from Malhotra & Sons (Pune, Maharashtra). And make payment.
Create Sales intrastate transaction, invoice of Dell Laptops 10 Nos. @₹.31000/= per quantity with 18% CGST
& SGST charges to Bazz Pvt. Ltd. (Mumbai, Maharashtra). And record Receipt entry
Record ITC payment of CGST & SGST.
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