Under GST any registered taxable person is executing works contract, need to maintain separate books of accounts for works contract i.e. name and address of persons whom works contract has been executed and information regarding to the supplier i.e. goods or services, quantity and value utilized for contract and payment details.
GST council has been confirmed that works contract under GST is purely service.
Path: Gateway of Tally -> Accounting Info -> Ledgers-> Create
Ledger Name: Fabrications
Under: Purchase Accounts
Inventory values are affected: Yes
Is GST Applicable: Applicable
Set/alter GST Details: Yes, once enable this option then the below GST details screen will appear.
Type of Supply: Services
Nature of transaction: Purchase Taxable
Taxability: Taxable
Integrated Tax: 12%
Press enter
Path: Gateway of Tally -> Accounting Vouchers -> (F9) Purchases
Supplier Invoice Number: 564 (Enter invoice number)
Date: Enter invoice date
Party A/c Name: Enter supplier name
Press enter to save the screen
During the same screen, click on Tax Analysis (Right side) to view the tax details.
GST Exempted Sales in Tally ERP9
How to Activate GST in Tally ERP9
Recording of Sales Invoice Inclusive of GST in Tally ERP9
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