After activation of GST settings for your company in Tally.ERP9 then you can record various transactions based on your nature of business, i.e. Local Purchases, Interstate Purchases, Nil Rated, Exempt, SEZ and other business transactions.
There are few goods and services that have 0% GST.
Path: Gateway of Tally -> Accounting Info -> Ledgers-> Create
Name: Nil Rated Purchases
Under: Purchase Accounts
Inventory values are affected: Yes
Is GST Applicable: Applicable
Set/alter GST Details: Yes, once enable this option then the below screen will appear.
Types of Supply: Goods
Nature of transaction: Purchase Nil Rated
Taxability: Nil Rated
Press enter to save the screen
Path: Gateway of Tally -> Inventory Info -> Stock Items -> Create
Taxability: Select Nil Rated
Press enter to save the screen
Path: Gateway of Tally -> Accounting Vouchers -> Select F9 for Purchases
Click on Yes to accept and save the entry
There are few goods and services exempt under GST.
Path: Gateway of Tally -> Accounting Info -> Ledgers-> Create
Is GST Applicable: Applicable
Set/alter GST details: Yes, once enable this option then the below screen will appear.
Click on Yes to accept and save the entry
Path: Gateway of Tally -> Inventory Info -> Stock Items -> Create
GST Applicable: Applicable
Set/alter GST details: Yes, once enable this option then the below screen will appear.
Click on Yes to accept and save the entry
Path: Gateway of Tally -> Accounting Vouchers -> Select F9 for Purchases
Taxable SEZ Purchases: In case of SEZ purchases for both local and interstate IGST will attract.
Exempt SEZ Purchases: No tax will attract
SEZ Purchases under LUT/Bond: No tax will attract on SEZ purchases under LUT/bond, when the supplier has submitted letter of undertaking with the department for the sale of goods without payment of duty.
Path: Gateway of Tally -> Accounting Vouchers -> Select F9 for Purchases
Provide GST details: Yes – You can enable this option if you want to enter additional details regarding to SEZ transaction.
GST Classifications in Tally ERP9
Recording of GST Sales Returns in Tally ERP9
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