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GST has implemented in India ,Earlier we were preparing tax invoices with VAT, Excise and Service taxes. Now we are under a single GST tax regime all over India. In this tutorial we will learn how to prepare gst tax invoices for goods and services WITH A SINGLE TAX AND MULTIPLE TAX SLAB in a single Invoices with GST compliance.
By printing an invoice in Tally ERP 9 gives you a default title ‘Invoice’. You may want to print an invoice titled Tax Invoice to comply GST Rules. We will discuss how print an invoice with desired title.Unlike VAT there are two types of Invoices in GST; They are,
- GST Tax Invoice: GST invoices issued by a registered dealer to the customer at the time of removal of goods in case there is a movement of goods or making it available to the customer in case of service.
- Bill of Supply : Bill of supply also issued by a registered GST Dealer when the goods sold should be exempted by GST law or the Taxable person registered under composition scheme.
Here I am just illustration How to print a GST Tax bill titled ‘Tax Invoice‘.
Lets take the following two example Sales transaction with GST for printing a TAX invoice
- On 01-02-2018 ABC Ltd sold 10 PCS DVD Player @ 3500 to National Electronics to a registered dealer.GST applicable is 18% .Prepare a TAX Invoice.
Step 1 : Creating TAX INVOICE Voucher Type
Create a voucher type namely Tax invoice,The type should be sale and Activate print after saving also the default title to print invoice should be TAX INVOICE as per gst rule. and can change the declaration if required.
Here is a screen shot of required voucher type.
To enter sales voucher of the above example we need the following
Step 2 -Activate GST in tally erp 9
Learn More about how to activate GST
A detailed post on setting up gst rate and HSN code is here.
Creating ledgers required for gst sale voucher
- Sale ledger ,lets create a local sale ledger for GST
- Party ledger National Electronics, Make sure that you have entered the right state, address, GSTIN of customer.
- GST TAX Ledger, For local sale SGST & CGST. For Interstate sale IGST refer below posts for creating Ledgers & stock items.
- Create Stock item for GST
- Learn more: How to create ledger in Tally
Create the above stock items and ledgers.
Create stock item
Gateway of Tally> Inventory Info>Stock Item> Create
In the stock item creation screen enable the following options.
GST Applicable: Applicable
set/alter GST Details: Yes & Set tax rate 18 % save.
Note: You can set stock item at various levels of tally erp 9, For example ,Company level, Ledger group level, ledger level ,Stock item level,transaction level etc. Learn more click here.
Press enter and accept all screens.
- Learn more How to create stock item
Enter sales Voucher with tax GST
Go to Gateway of Tally> Accounting Vouchers> F8 sales
Tally will ask which voucher type to be used in this sale entry. We have already created a voucher type for GST transaction.
Enter the transactions as shown in the below image.
Press enter and save to accept the screen.
Print the sales voucher as tax Invoice or GST Invoice
When you accepting the sales voucher tally will automatically display the printing configuration screen with Question Print or Not. If you left without printing and saved the voucher then; Access the voucher in alteration mode, or just press pageUp button immediately after saving the sales voucher.now click print button or use short cut key Alt+P. Make necessary changes in the configuration screen.
You can select number of copies & the printers to be sent for printing from this screen. As per GST rules 3 copies of invoice shall be taken in case you are selling goods with transportation. Original for buyer,Duplicate for transporter and triplicate for retaining at seller premises. In case of service invoice duplicate shall be prepared for service receiver and service provider.
Click on Yes,The Invoice will be printed as mentioned in the voucher type we have created above.
This is what we can do with Tally ERP 9 Default Invoice format to comply with GST. If you want more customised solution you can approach a tally partner near you.