Stock Transfer – Branch Accounting under GST in tally erp 9

Stock transfer is an important factor of business having multiple branches in different locations. Stock transferring between branches cannot be considered as sale as it is just movement of goods between branches of same business. Stock transfer may be the supply goods to a branch where that item is not available.  This may be inter state or intra-state. Inter state stock transfer means stock movement to a branch situated in another state. Example Scenario : ABC Ltd  is a business

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GST Composition dealer accounting in tally

GST has introduced composition scheme beneficial for small businesses. This is a scheme where a registered person pays only a fixed lower rate of tax on total turnover of business. But the business has to fulfill the following conditions to opt in to the scheme. Turn over of a Fy shall be less than 1 crore. In case of Hmachal pradesh and North eastern states the limit is 75 lakhs. Input tax credit cannot be availed. Business cannot make interstate

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Reverse charge mechanism ( RCM) Accounting Entries in tally

In reverse charge under gst; the tax liability is imposed on the  receiver of the goods or services. In normal case we know the seller , supplier or services provider is liable to collect tax from buyer and responsible for the payment of tax. GST mandates the reverse charge mechanism( RCM) in the following three scenarios of business. Purchase from un-registered dealer ( ULD), The buyer is liable to pay GST.( Exemption limit is 5000 in a day.)  Section 9(4) of

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How to file GSTR-4 using tally erp 9 ?

GSTR-4 is the quarterly return to be filed by a composition dealer. As you know composition dealer is a registered tax payer under gst. A Composition dealer can have a a turnover less than 1.5 crore. Composition dealer cannot trade outside of state no input tax is available on purchases they make. They have to issue Bill of supply instead of Invoice for all the sales and a fixed tax rate is applicable on total sale while making tax payments.

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How to generate e-way bill using tally erp 9?

In this chapter we will learn how to activate e-way bill in tally erp 9 and how to generate e-way bill using tally erp 9.These are the transport document for the movement of goods both inter state and intra state. Some states are make it mandatory for both interstate and intra-state movement of goods. eway bills are generated when there is a goods movement of more than 50000 in single bill or delivery challan. For this reason e-way bills are

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Setup gst rates,HSN/SAC Code in Tally ERP 9 ?Find HSN/SAC &GST rate

In Tally ERP 9, You can  set GST rates  & HSN /SAC Codes at various levels of operation in order to apply gst rates & HSN SAC codes to goods and services during voucher entry to get printed in Invoice and other reports. Before we go; let’s understand some basics about HSN Code/SAC code What is HSN Code ? HSN is the abbreviation of harmonised system of nomenclature , It is a system of naming  ( coding ) Products for

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How to activate GST in Tally ERP 9 ?

In this session You will learn how to activate GST in Tally ERP 9. Once activated, You can enter GST Registration details like GSTIN/UIN, Registration type Like regular dealer or composition dealer, Periodicity of Submitting GSTR-1 return; that is monthly or quarterly, E-way bill details etc. Tally provides you convenience of setting GST rates & HSN/SAC codes at various levels of tally based on the number of items you are dealing with. Enable gst for Regular dealer Open company you

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