GST Import of Services under Reverse Charge in Tally ERP9

You can record import of service transactions under reverse charge in Tally.ERP9

 

 

Ledgers Creation

 

Path: Gateway of Tally -> Accounting Info -> Ledgers-> Create

 

 

Name: Peter Co

 

Under: Sundry Creditors

 

Country: United Kingdom

 

Press enter to save the screen

 

 

 

Recording of inward supply of import services

 

Path: Gateway of Tally -> Accounting vouchers -> F9 Purchase

 

Click on Accounting Invoice

 

 

Date: Enter date

 

Press enter to save the screen

 

 

 

Check The GSTR2 Report

 

Path:  Gateway of Tally -> Display -> Statutory Reports -> GST -> GSTR2

 

 

 

 

To claim tax credit on the liability of imports

 

You need to raise tax liability and then pay it to the Government.

 

 

To raise tax liability

 

Path:  Gateway of Tally -> Accounting Vouchers -> F7 Journal

 

Click on Stat Adjustment

 

 

 

Create the Tax on Imports ledger under current assets

 

Press Enter to save the screen

 

 

 

To claim tax credit on liability of imports

 

Path:  Gateway of Tally -> Accounting Vouchers -> F7 Journal

 

Click on Stat Adjustment

 

 

Type of duty/tax: GST

 

Nature of adjustment: Increase of Input Tax Credit

 

Additional details: Imports of services

 

Press enter

 

 

 

Press Enter to save the screen

 

 

 

Check the GSTR-3B Report

 

Path:  Gateway of Tally -> Display -> Statutory Reports -> GSTR-3B

 

 

 

 

 

Related Topics

 

Import of Goods under GST in Tally ERP9

 

Enable TDS in Tally ERP9

 

GST Classifications in Tally ERP9