Effortless Purchase Management Under GST with TallyPrime
TallyPrime makes it easy to manage your GST purchases—whether you’re buying goods, services, or capital assets. You can record transactions from both registered and unregistered suppliers, and TallyPrime automatically applies the correct GST based on your Place of Supply:
- CGST + SGST/UTGST for same-state purchases
- IGST for interstate purchases
Flexibly record your GST purchases using a purchase voucher, journal voucher, or payment voucher, based on your business needs.
Smart GST Handling
TallyPrime takes care of tax calculations using the GST rates you’ve defined. You can:
- Use a common tax ledger and override taxable values when needed
- Create a single invoice for items with different GST rates
- View the tax breakup during entry for complete clarity
Multiple GSTINs? No Problem.
If your business has multiple GST registrations, you can simply switch the GSTIN or voucher series in the flow of your transactions and reports.
Accurate GST Invoicing and IMS Status Tracking
Record your GST purchase transactions—local or interstate, goods or services—with ease. Even amendments after voucher creation are easy to manage.
TallyPrime displays your GST invoices in a format similar to the GST portal, so you can review and export them with confidence. You can even set the GST Status and IMS Action Status directly from the voucher—keeping everything organised and up to date.
One-Time Setup, Long-Term Ease
Just do a quick setup—either at the beginning or at any time—and start recording GST purchases. Setting up your masters will help in systematically maintaining your accounts and reporting.
Effortless GST Handling of Purchase Scenarios
From the purchase of fixed assets, SEZ or Other Territory transactions to Deemed Export—TallyPrime handles it all. Payments towards business expenses like telephone bills, internet charges, stationery expenses, and so on, are also simple. You may record purchases as expenses too.
You can also easily record GST on Inward Remittance of Service Value and TDS/TCS on Purchase with GST.
Reverse Charge Transactions (RCM)
TallyPrime helps manage your reverse charge scenarios, from the purchase of RCM goods as domestic transactions or rent payments, purchase return of RCM goods, to the import of goods that attract RCM in addition to Customs Duty or import of services.
You have the flexibility to mark stock items and services for Reverse Charge calculation, if transactions of such items are always under RCM. Alternatively, you can configure and use a separate purchase ledger for RCM.
If certain items have to be treated as RCM in specific transactions, you can override the taxability in the purchase voucher.
Stay on Top of Your ITC with IMS
IMS in TallyPrime offers comprehensive control over your Input Tax Credit (ITC). Within your regular accounting flow, you can easily reconcile invoices, set Action Statuses like Accepted or Rejected, and confidently file GST returns.
The IMS Inward Supplies report helps you review supplier invoices against the GST portal, highlighting matched, mismatched, or missing entries. Use the IMS – ITC Summary to track your Available, Pending, and Rejected ITC, ensuring only valid credit is considered for GSTR-2B and GSTR-3B.
You can also record ITC reduction for B2BA, CDNRA & B2BDNA invoices, and add remarks for better clarity & tracking.
Seamless GST Reporting
Once recorded, your purchase data flows into key GST reports like:
- GSTR-3B (ITC eligibility)
- GSTR-2A & GSTR-2B Reconciliation (supplier-wise details)
- IMS Inward Supplies & ITC Summary
- Annual Computation
Your purchases also appear in reports like Purchase Register, Day Book, and more. Any updates in your accounting and inventory will appear in Stock Summary, Trial Balance, Profit & Loss, Balance Sheet, and other key reports.
In this way, TallyPrime empowers you to maintain accurate records, streamline your accounting, and file GST returns with complete confidence.
