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Computing Management2

Lecture Notes of SYBCom subject Computing Management. syllabus is suitable for KBC NMU Jalgaon univeristy

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Swapniel Mishra
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26 views57 pages

Computing Management2

Lecture Notes of SYBCom subject Computing Management. syllabus is suitable for KBC NMU Jalgaon univeristy

Uploaded by

Swapniel Mishra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF or read online on Scribd
Tally with Gs Content ¢ 21 What is GST? 2.2 Advantages/Benefts of GST. 23 Salient Features of GST. 24 Inter-State Sales or Intra-State Sales. 25. Intra State Purchase. 2.6 Documents Required For Registration. 2.1 What is GST? GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods ar Service Tax Act was passed in the Parliament on 29th March 2017. The Act was applicable on | July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-base tax that is levied on every value addition. In simple terms, Goods and Service Tax (GST) is an indirect tax levied on the supply of gooc and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country. 7 So, before Goods and Service Tax, the pattern of tax levy was as follows: Buying Raw Materials VAT <— = = Sale to lenateoture Wholesaler / Warehousing VAT + Excise Duty = VAT Final Sale to Sale to Consumer Retailer VAT Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales. Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST. Definition GST — “GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.” 30 | Prashant Publications @ scanned with OKEN Scanner Multi-stage : There are multiple change-of-hands an item gocs through al ianufacture to final sale to the consumer. Let us consider the following case: « Purchase of raw materials « Production or manufacture + Warehousing of finished goods » Sale to wholesaler Sea long its supply chain: fro! « Sale of the product to the retailer « Sale to the end consumer Buying Raw Materials | Manufacture -}———> Sale to Wholesaler / Warehousing | Final Sale to Sale to Consumer Retailer Goods and Services Tax is levied on each of these stages which makes it a multi-stage tax. Value Addition Value Addition Value Addition ———— ——: _ Flour & Sugar Biscuits Label Biscuit Value Addition : The manufacturer who makes biscuits buys flour, sugar and other material. The value of the inputs increases when the sugar and flour are mixed and baked into biscuits. The manufacturer then sells the biscuits to the warehousing agent who packs large quantities of biscuits and labels it. That is another addition of value after which the warehouse sells it to the retailer. The retailer packages the biscuits in smaller quantities and invests in the marketing of the biscuits thus increasing its value. GST is levied on these value additions i.e. the monetary value added at each stage to achieve | the final sale to the end customer. Computing Management : Tally ERP 9 with GST |31 @ scanned with OKEN Scanner Destination-Based : Consider goods manufactured in Maharashtra and are so Since Goods & Service Tax is levied at the point of const 20 to Karnataka and not Maharashtra. Journey of GST in India: The GST journey began in the year 2000 when a committee was set up to make law. It took ¢ years from then for the Law to evolve. In 2017 the GST Bill was passed in the Lok Sabha Rajya Sabha. On Ist July 2017 the GST Law was applicable 4 Id to the final consumer in Kanata Imption. So, the entire tax revenue w 2.2 Advantages/Benefits of GST The main benefits of GST are: * Single indirect tax for the whole of India * Input tax credit can be taken for taxes paid in another state * __ Easy transfer of goods from one state to another al has mainly removed the Cascading effect on the sale of goods and services. Removal g cascading effect has impacted the cost of goods. Since the GST regime eliminates the tax on tax the cost of goods decreases. GST is also mainly technologically driven. All activities like registration, return filing, application for refund and response to notice needs to be done online oy the GST Portal; this accelerates the processes. Removing cascading tax effect Higher threshold for registration Composition scheme for small businesses Online simpler procedure under GST Lesser compliances Defined treatment for e-commerce Increased efficiency in logistics Regulating the unorganized sector What are the components of GST? There are 3 taxes applicable under this system: CGST, SGST & IGST. CGST: Collected by the Central Government on an intra-state sale (Eg: transaction happening within Maharashtra) SGST: Collected by the State Government on an intra-state sale (Eg: transaction happening, within Maharashtra) IGST: Collected by the Central Government for inter-state sale (Eg: Maharashtra to Tamil Nadu) ®©G©OC00COO0®@ 32 | Prashant Publications a @ scanned with OKEN Scanner in mo: I host cases, the tax structureunderthe new regime) Transaction ——__ be as fe New Regime eaeee ec eecca pence seeCSEC| : Old Regime Sale within the Sate | CGST+SGST [VAT + Cantar | Revenue will be shared) equally Excise/Service : state Sao anata Ba HEY Excise/Service tax | between the Centre and the St Central Sales Tax + [There will only be one type of tax Excise/Service Tax | (central) in case of inter-state sales. The Centre will then share the IGST revenue based on the destination of Illustration: goods. Let rapa us assume that @ dealer in Gujarat had sold the goods to a dealer in Punjab worth Rs. 50,000. The tax rate is 18% comprising of only IGST. In such case, the dealer has to char ge Rs. 9,000 as IGST. This revenue witl go to the Central Government. The same dealer sells goods to a consumer in Gujarat worth Rs, 50,000. The GST rate on the good is 12%. This rate comprises of CGST at 6% and SGST at 6%. The dealer has to collect Rs, 6,000 as Goods and Service Tax. Rs. 3,000 will go to the Central Government and Rs. 3,000 will go to the Gujarat government as the sale is within the state. What changes has GST broughtin? In the pre-GST regime, every purchaser including the final consumer paid tax on tax. This tax on tax is called Cascading Effect of Taxes. GST has removed this cascading effect as the tax is calculated only on the value-addition at each stage of the transfer of ownership. Understand what the cascading effect is and how GST helps by - 2.3 Salient Features of GST 1. The GST would be applicable on the supply of goods or services as against the present concept of tax on the manufacture or sale of goods or provision of services. It would be a destination based consumption tax. This means that tax would accrue to the State or the Union Territory where the consumption takes place. It would be a dual GST with the Centre and States simultaneously levying tax on a common tax base. The GST to be levied by the Centre on intra-State supply of goods or services would be called the Central tax (CGST) and that to be levied by the States including Union territories with legislature/Union Territories without legislature would be called the State tax (SGST)/ Union territory tax (UTGST) respectively. 2. The GST would apply to all goods other than alcoholic liquor for human consumption and five petroleum products, viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel. It would apply to all services barring a few Computing Management : Tally ERP 9 with GST |33 @ scanned with OKEN Scanner to be specified. The GST would replace the followi [ae a following taxes currently levied ang a. Central Excise Duty b. Duties of Excise (Medicinal and Toilet Preparations) ©. Additional Duties of Excise (Goods of Special Importance) da Additional Duties of Excise (Textiles and Textile Products) e. Additional Duties of Customs (commonly known as CVD) £ Special Additional Duty of Customs (SAD) g. Service Tax h. Cc ; entral Surcharges and Cesses so far as they relate to supply of goods and services tate taxes that would be subsumed under the GST are: a, State VAT b. Central Sales Tax ce. Luxury Tax d. Entry Tax (alll forms) a cal bodies) i 2 & » Entertainment and Amusement Tax (except when levied by the lox Taxes on advertisements Purchase Tax Taxes on lotteries, betting and gambling i, State Surcharges and Cesses so far as they relate to supply of goods and services The list of exempted goods and services would be common for the Centre and the States, Threshold Exemption: Taxpayers with an aggregate turnover in a financial year up to Rs.20 lakhs would be exempt from tax. Aggregate turnover shall be computed on all India basis. For eleven Special Category States, like those in the North-East and the hilly States, the exemption threshold shall be Rest. 10 lakhs. All taxpayers eligible for threshold exemption will have the option of paying tax with input tax credit (ITC) benefits. Taxpayers making inter-State supplies or paying tax on reverse charge basis shall not be eligible for threshold exemption. 6. Composition levy: Small taxpayers with an aggregate tumover in a financial year up to Rest. 50 lakhs shall be eligible for composition levy. Under the scheme, a taxpayer shall pay tax as a percentage of his turnover during the year without the benefit of ITC. The rate of tax for CGST and SGST/UTGST each shall not exceed — 2.5% in case of restaurants etc 1% of the turnover in a state/ UT in case of a manufacturer 0.5% of the turnover in state/UT in case of other suppliers h, e . | Prashant Publications @ scanned with OKEN Scanner Ataxpayer opting for composition levy shall not collect any tax from his customers nor shall he be entitled to claim any input tax eredit. The composition scheme 's optional. Taxpayers making inter-State supplies shall not be eligible for composition scheme. The government, may, on the recommendation of GST Council, increase the threshold for the scheme to Up to rupees one crore. 7. An Integrated tax (IGST) would be levied and collected by the Centre on inter-State supply of goods and services, Accounts would be settled periodically between the Centre ~ the States to ensure that the SGST/UTGST portion of IGST is transferred to : the destination State where the goods or services are eventually consumed. Use of Input Tax Credit: Taxpayers shall be allowed to take credit of taxes paid on inputs (input tax credit) and utilize the same for payment of output tax. However, no input tax credit on account of CGST shall be utilized towards payment of SGST/UTGST and vice versa. The credit of IGST would be permitted to be utilized for payment of IGST, CGST and SGST/UTGST in that order. 9. HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods under the GST regime. Taxpayers whose tumover is above Rs 1.5 crore but below Rs. 5 crore shall use 2-digit code and the taxpayers whose tumover is Rs 5 crore and above shall use 4-F3. atom tax « RACCOON Copa ety Mo, (C2: URETRESIO TONSA Computing Management : Tally ERP 9 with GST |43 @ scanned with OKEN Scanner Enable Goods and Services Tax (GST) - Yes . sereen ii Karnataka Rey State Registration type Assossee of Other Territory GsTiINUIN 2TALDGE1234 A125 Avplicable from 4.2017 Monthly Periodicity of GSTRY © Way Bill applicable ? Yer Applicable from 1 2018 Threshold limit includes Involce value Threshold limit, 50,000 Applicable for intrastate ? You Threshold limit 50,000 Enable tax liability on advance receipts? Yes ? Yes 320 from unregistered coal) Sev/atter GST rate details Enable GST Classifications Provide LUT/Bond details Enable tax liability on reverse charge: Purr: --2No ? Yes State - shows the state as the company details. This helps in identifying local ang interstate transactions according to the party's state. If you change the state here, the company details will get updated. 5. Set the Registration type as Regular. Set the option Assessee of Other Territory to Yes, if your business unit in located in the Exclusive Economic Zone (other territory). 7. Specify the GSTIN/UIN for the business. This can be printed in the invoices as required. You can specify this later. 8. Specify Applicable from date: GST will be applicable for your transactions from this date onwards. 9. Select the Periodicity of GSTR1 as Monthly or Quarterly,based on your business turnover. 10. Theoption e-Way Bill applicable is set to Yes, with the Applicable from date and Threshold limit, 11. Select the value to be considered for e-Way Bill for the option Threshold limit includes. 12. Set the option Applicable for intrastate to Yes, if it applies to your State and enter the Threshold limit. Note : The fields Kerala Flood Cess applicable? and Applicable from appear for companies with Kerala as State and Regular as Registration type in Release 6.5.3 and later versions. 44 | Prashant Publications @ scanned with OKEN Scanner vate calculation of 13. Set the option Enable tax Hiahitity on advance receipts wo Verto at aisle tax lability on advance receipes The options ie dieabled by default. from Relenee 6.1.1) 14 Set the option Frabie tan Habits om reverse charge (Purchase fmm sm dealer) 10 Vee to nctivate calcutanom of tae faibility for reverse chante purchnees. Thie option ie dienbled by defamtt 15 Enable the option Setiatter GST rate detaite? to enter the GST details at the ¢ level je Set the option Enable GST Cineeifieation? to Yes, to create and nse the classifi in GST Detail screen of mactere Set the option Provide LUT Rand detail? to Yes, to enter the LUT/Band No - and Validity period yk Pres Eater to anve Activate GST for Composition Dealers : 1 Open the company for which you need to activate GST Pree FUT FS registered on URD ompany ations el crcl Se see ter Serer et tev Wa] tow te Donated tne PO) ws) “Secret eee a ea —— Dee tame TCS ome —— — Sao = m———- et oe 7S Lee terme | raceme tems AAACN epetes teeny Ne PG, LETITIA Vo Yes Enable Goods and Services Tan (G 4 Set/ulter GST detuils - Yeo ‘The State field helps in identifying local and interstate transactions according to the pany’s state If you change the state here, the company details will get uplated, © Set the Registration type as Composition 7 Set the option Assessee of Other Territory to Yes, if your business unit in located in the Faclusive Eeanomic Zone (other terntory) Computing Management : Tally ERP 9 with GST | 4S @ scanned with OKEN Scanner Specify the GSTIN/UIN for the business. This can be printed in the invoices as Fequire You can specify this later. 9. Specify Applicable from date. GST composition will be applicable for your ~~ on from this date onwards. 10. Tax rate for taxable turnover appears as 1% . This rate is applied on your transact to arrive at the taxable value. Note: If you are changing the registration type from regular to composition, the applicabily date of GST regular registration will be retained, You can change the date as required. 11, Based on your business type, select the Basis for tax calculation . For outward ‘Suppligy| the total of taxable, exempt and nil rated will be considered as the Taxable Value, Fe) inward supplies, the total value of purchases made under reverse charge will td considered as the Taxable Value . EOE “arable valve aoa a J} Taxable, Exempt and Nil rated values - the tax will be calculated on the: © Total of taxable, exempt and nil rated sales. © Total of purchases attracting reverse charge. ° Taxable - the tax will be calculated on the: © Total of only the taxable sales. © Total of purchases attracting reverse charge. ClickL: Tax Rate Historyto provide the history corresponding Applicable From date and Basis for Tax Calculation, as shown in the followin example: ofTax Rates with th 46 | Prashant Publications d @ scanned with OKEN Scanner 12. The optione-Way Bill the Applicable from date and Threshold limit . 13, Select the value to be considered for e-Way Bill for the option Threshold limit includes . 14, Set the option Applicable for intrastate to Yes, if it applies to your State and enter the Threshold limit. 15, Set the option Enable tax rate for purchase’ (Includes purchases under reverse charge) to: Yes, to enter the GST rate in the ledgers and stock items for calculating GST in transactions. No, to specify the GST rates in each transaction for calculating GST. 16. Press Enter to save. ‘You can record transactions using the ledgers with GST details, and print invoices with GSTIN. 3.2 Creating, Using, and Updating GST Classifications You can create a GST Classification in order to record the tax rate and other details for a category of goods attracting a specific GST rate. For example, creating GST Classifications based on HSN. When this classification is used in relevant masters and transactions, the tax details of the goods or services will be automatically captured. In case the department changes, the tax rate for any HSN in future, alter the GST Classification and assign the new rate. You can create GST Classifications for an accounts-only company as well. Depending on the grouping used for GST Classifications, you can tag those to Sales, Purchase, Services, Income and Expense ledgers. To create a GST classification, under F11: Features > Statutory and Taxation , enable the options Enable Goods and Services Tax (GST)? and Set/alter GST details?. In the GST Details screen, set the option Enable GST classification? to Yes. On this page : * Create a GST classification based on HSN Code * Use GST classification for seting OST details * — Altera GST Classification Computing Management : Tally ERP 9 with GST | 47 @ scanned with OKEN Scanner © Create a GST classification based on SAC © Usea GST classification for setting GST details for a Service © Select cess on quantity and value To create a GST classification based on HSN code : 1, Goto Gateway of Tally > Accounts Info, > Statutory Info. > GST Classifications > Create. HSN/SAC Details Description HSNISAC. Nature of transaction Tax Details Taxability - Tax Type Integrated Tax Cess Computer Monitors > 8528 : 0 Not Applicable - 2 Taxable © Rate : : | 18 % eee | ma 2 2. Select the Nature of Transaction, if required. Note : The nature of transaction is identified based on Registration Type, State and Countt the party. Therefore, there is no specific requirement to select nature of transaction. You nee change the nature of transaction in case of branch transfers, consignment transfers, works cont and so on, accordingly. 3. Enter the rates applicable for Integrated Tax, and Cess, if any. The rate entered integrated tax will be equally divided between central tax and'state tax. You can spe further GST details for the GST classification by clicking F12: Configure. To use a GST classification for setting GST details : 1. Go to Gateway of Tally > Display > Statutory Reports > GST > GST Rate Setup. 48 | Prashant Publications @ scanned with OKEN Scanner Tap TTT, eget CF = n renee | Senay eee avn ions) os, 98) OAL ee Hoe ene a Te We (1s4201) 829) om 0m {copa nt fraean om 08 | Toit cot ta Soa ‘ea cai et ee saan ™ oN | soy hin ssa im Toei toe sey on) nen rr 1° eee al (Smeets cn ts Sn tn trans oa mn | | ove feo (9) aw | einen gues ~~ cone se tea 5) o "Gaps TeS Cd Tn, Sa Tar, chine —_ ae | eaten ysson oy we Sythe sea) | non nena) oe | ase ee | | | = 1 “Sepp ate it Agha aed teh vicael tr bs a ey ee. 2. Select the items that have the specified HSN Code. 3. Click S$: Set Rate , and select the GST Classification. Accept? 2 __L Yor or No Notice that tax details disappear from the GST Details screen as the details are taken from the GST Classificati i i caipaa classifications for items falling under other HSNs, and assign the classification to the required items, Computing Management : Tally ERP 9 with GST| 49 @ scanned with OKEN Scanner To alter a GST classification : 1. Goto Gateway of Tally >Accounts Info.>Statutory Info.>GST Classifications>Atg 2. Specify the new rate, press Enter twice, provide the revised applicability from date, a save. Revised Applicability Applicable fom: ANITA To create a GST classification based on SAC : 1. Goto Gateway of Tally > Accounts Info, > Statutory Info. > GST Classifications > Create. Name > 998713 HSNISAC Details Description : Annual Maintenance Contract HSN/SAC 2 998713 Nature of transaction : I Not Applicable Tax Details | Taxability | Tax Type | Integrated Tax | Cess 2. Provide the details as required. To use a GST classification for setting GST details for a service : 1. Goto Gateway of Tally > Accounts Info. > Ledgers > Create. 50 | Prashant Publications @ scanned with OKEN Scanner ‘Opéning Balance {on tial 2. Enable Set/alter GST Details?. 8 é 4 3 i In the GST Rate Details screen, select the GST Classification created for Annual Maintenance Contract. 4. In Type of Supply, select Services. Createdifferent classifications for services falling under other SACs, and assign the classification to the required services. To create a GST classification for cess based on quantity or value : 1. GotoGatewayofTally > Accounts Info. > StatutoryInfo. >GST Classifications>Create. 2. Enter the percentage of Integrated Tax. The Central Tax and State Tax rates are displayed. 3. ForCess, the cursor moves to the Rate column. Press Backspace to select the Valuation Type as Based,on Value and Quantity. Enter the cess Rate and cess rate per unit, nt WLS ais, ne” Computing Management : Tally ERP 9 with GST 51 @ scanned with OKEN Scanner Description Giperaties Other Thao Filter Clgareties | HSN/SAC 24022020 [Nature of transaction +L Not Applicable Tax Details Taxabilily + Taxable ‘Tax Type Valuation Type Rate Integrated Tax Based on Value 6 Central Tax Based on Value 2.50% State Tax Based on Value 2:50 %. Coss Based on Value and Quantily 5% Note: You can also select the Valuation Type of cess as Based on Value and Quantity the GST Rate Details screen of Tax Rate History. A. Accept the GST Classification Creation Screen 3.3 Creation ofstock item? To create stock item for GST is same as updating, statutory information and tax rate details; same as above, only difference is the select stock item create menu instead of alter Go to Gateway of Tally > Inventory Info. > Stock Items > Create > select the item. 3.4 Creation of stock group ? To create stock group for GST Compliance. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create > select the group. Creating Party Ledgers for GST : You can create party ledgers with whom you purchase and sell goods and services, with! GST registration details. You can create supplier Ledger, Customer Ledger and enter the GSTIN/UIN based on! party type. You can set GST rates in the ledger grouped under non-revenue accounts, example, Current Assets and Current Liabilities. If you have created the party ledgers 0 groups other than Sundry debtors, Sundry creditors, Bank, Cash, and Branch/divisions: . Open the ledger in alteration mode. © Set the option is GST Applicable? to Not Applicable , to consider it as a party led8* e Accept the ledger. 52 | Prashant Publications @ scanned with OKEN Scanner 45 Creating Suppli L 's Ledger with GST details Go to Gateway of Tally > Accounts Info. > Ledgers > Cre Enter the Name of the supplier's ledger. Sclect Sundry Creditors from the List of Groups in the Under field,” Set the option Maintain balances bill-by-bill? to Yes. Enter the Default credit period, any. Set the option Inventory values are affected? to Yes, if required. Select the party Registration type, and enter the GSTIN/UIN. Enable the option Set/Alter GST Details? to open the GST Details screen. © Set the option Assessee of Other Territory? to Yes if the party is belongs to Exclusive Economic Zone (other territory). yPaaneeyp ° If the supplier is an e-commerce operator, then enable the option ise-commerce operator? The GST Details screen appears as shown below: Registration type Regular || Assesses of Other Temitory : No | Weecommerce operator “No | Consider Party as Deemed Exporter for Purchases 2 No | Panty Type 3 {Not Applicable | GSTINUIN | 29ALHET3161D1Z3 | tw atransponer | L o Press Ctrl + A to accept. The Ledger Creation screen appears as shown below: | ne ‘Sundry Credo | ‘Cones net) Marae baurces why ba rye Bette pr ‘ac ey ag nr? He Noto Poca eee 7 |S te apc abe state foc veut GST Aon urbe ety) | (Serta “te | TeuBenieneton Dost | [PANT Mo. AMET open tog | nee ALHETINGIDIZ) | ‘Sevetee OST doteds EES 9. Press Enter to save. Computing Management : Tally ERP 9 with GST | 53 @ scanned with OKEN Scanner 3.6 Creating Customers Ledger with GST details 1 oto Gateway of Tally > Accounts Info, > Ledgers > Create. inter the Name of the customer's ledger. Select Sundry Debtors from the List of Groups in the Under field, Set the option Maintain balances bill-by-bill? to Yes, Enter the Default credit period, if any. Select the party Registration type, and enter the GSTIN/UIN. Enable the option Set/Alter GST Details? to open the GST Details screen. ° Set the option Assessee of Other Territory? to Yes if the party is belongs b Exclusive Economic Zone (other territory). ° If the supplier is an e-commerce operator, then enable the option Behave ay, Commerce Operator? The GST Details screen appears as shown below: IA EYL GST Details © | Registration type é Regular Assessee of Other Territory 2 No 3 | Is e-commerce operator pw PsNo ee | Consider Party as Deerned Ema irchases 2 No fi } Party Type SL Not Applicable 4 GSTIVUIN ZHALRTRSSIIF1Z3 ls a transporter © Press Ctri+A to accept. The Ledger Creation screen appears as shown below: ‘iain te Seno Dean hme neat eee coset, sesh eee Manse bivees inet 7 ¥08, orate CA tener to ener eae meh ethene sea Nereatak [etc paca state toe GST dy uct Cy) [Pde Bane deat? Mo | Yoo tonatraton | paw no ALATEST Rapti type Ragu estivuw TRS i Seis 6st one 7 54 | Prashant Publications «= @ scanned with OKEN Scanner GSTIN/UIN Format : IN i p sre pay Opes Trae Party ledger gets validated by considering the formats prescribed fora - Ifa GSTINUIN ' eae seats s shown below: joes not fallin the supported formats, a 6431 If you have provided a valid GSTIN/UIN (the format that is newly introduced by the department), you can ignore this message and save the ledger. The transactions recorded using this ledger will appear as exceptions in the Information required for generating table-wise details not provided section of GSTR-1 , GSTR-2 and GSTR-4 (applicable till 31st March, 2019). Note:In GSTR-, the exception appears only for purchases under reverse charge. You can do the following to include such transactions in the returns. © Click C : Accept GSTIN/UIN . * Press Enter to skip the GSTIN/UIN validation and accept the voucher. To move the voucher back to exceptions, click V: Validate GSTIN/UIN in the Vouchers Accepted without Party GSTIN/UIN Validation screen. Create GST Purchase and sales ledger in Tally ERP 9 We know how to create a ledger in tally erp 9. Earlier we had posted to creating purchase ledger and sales ledger in normal mode. But here we are explaining creating ledger of sales and Purchase for GST Compliance. There are not much difference in creating a sale ledger and Purchase ledger for gst with normal ledger creation. But When creating for GST compliancewe can define GST details like GST rates & hsn /sac codes in purchase and sales ledger. If a tax payer sells many items having same gst tax rate can define tax rates at GST ledger level and similarly in Purchase most of the item you purchase have same gst rate can define rates at purchase ledger level. Before we start creating any ledger for GST, Make sure that you have activated GST in tally ©P9, also knowledge of the setting up gst rates and hsn/sac codes are recommended, If you don't know how to activate GST & rate/ hsn/sac codes set up, refer below links. Computing Management : Tally ERP 9 with GST | 55 @ scanned with OKEN Scanner

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