Tally Gst Questions And Answers
Tally GST Questions and Answers: A Guide for Beginners
Tally is a popular accounting software that helps businesses manage their finances, inventory, taxation, and more. Tally also supports the Goods and Services Tax (GST) system, which is a comprehensive indirect tax levied on the supply of goods and services in India. However, many users may have questions and doubts about how to use Tally for GST compliance. In this article, we will answer some of the most common Tally GST questions and answers that beginners may have.
What is Tally GST?
Tally GST is a feature of Tally that allows users to create and manage GST invoices, returns, payments, and reports. Tally GST also helps users to calculate and apply the correct GST rates and tax amounts for their transactions. Tally GST also supports multiple GSTINs, multiple tax rates, reverse charge mechanism, input tax credit, e-way bills, and other GST-related aspects.
tally gst questions and answers
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How to activate Tally GST?
To activate Tally GST, users need to have a valid license of Tally.ERP 9 Release 6 or later. Users can then follow these steps to activate Tally GST:
Open Tally and go to Gateway of Tally.
Select F11: Features > F3: Statutory & Taxation.
Set Enable Goods and Services Tax (GST) to Yes.
Enter the GSTIN of the company and other details such as state, registration type, periodicity of returns, etc.
Press Ctrl+A to save the settings.
Tally GST is now activated and ready to use.
How to create a GST invoice in Tally?
To create a GST invoice in Tally, users need to first create a ledger for each type of GST tax (CGST, SGST, IGST, UTGST) under the group Duties & Taxes. Users also need to create ledgers for their customers and suppliers under the group Sundry Debtors or Sundry Creditors. Users can then follow these steps to create a GST invoice in Tally:
Go to Gateway of Tally > Accounting Vouchers > F8: Sales or F9: Purchase.
Select the customer or supplier ledger from the List of Ledger Accounts.
Select the sales or purchase ledger with GST enabled from the List of Ledger Accounts.
Select the item or service from the List of Stock Items or List of Ledger Accounts.
Enter the quantity and rate of the item or service.
Select the GST tax ledgers (CGST, SGST, IGST, UTGST) from the List of Ledger Accounts.
Press Ctrl+A to save the invoice.
Tally will automatically calculate and apply the GST rates and tax amounts based on the item or service, customer or supplier location, and other factors. Users can also print or email the invoice from Tally.
How to file GST returns in Tally?
To file GST returns in Tally, users need to first generate the GSTR-1 (outward supplies) and GSTR-3B (summary return) reports from Tally. Users can then export these reports as JSON files and upload them to the GST portal using their login credentials. Users can also use the e-return tool provided by Tally to directly upload the JSON files from Tally without logging into the GST portal. Users can then verify and submit their returns on the GST portal and pay any tax liability online.
Conclusion
Tally is a powerful and user-friendly software that helps users to comply with GST rules and regulations. By using Tally GST features, users can easily create and manage GST invoices, returns, payments, and reports. Users can also get support and guidance from Tally experts and online resources. If you have any other questions or queries about Tally GST, you can contact us or visit our website for more information. 06063cd7f5
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