In Tally.ERP 9, you can record purchases and sales of solar and renewable energy projects. In the invoice, enter 70% of the assessable value as goods taxable at 5% GST, and 30% of the assessable value as services taxable at 18% GST.
On this page
● View breakup of values in GSTR-1
Prerequisites
● Ensure you have created stock item, service ledger, sales ledger, and GST ledgers.
● From Gateway of Tally , press F11 > set the option Enable zero-valued transactions to Yes .
1. Ensure the GST details are defined as 5% in the stock item and 18% in the service ledger .
2. Go to Gateway of Tally > Accounting Vouchers > F8: Sales .
3. In the sales voucher, press F12 > set the options as given below:
o Allow modification of tax details for GST - Yes .
o Use common ledger account for item allocation - No .
4. Select the Party A/c Name .
5. Select the stock item, enter the Quantity and Rate .
6. In the Accounting Details screen, select the sales ledger.
7. In GST Details screen, press F12 and set the option Allow override assessable value to Yes .
8. In the Tax Classification Details screen, enter 70% of the item value as the Taxable Value . For example, if the project cost is 5,62,70,808, calculate 70% of the cost and enter 3,93,89,565.60 as the Taxable Value .
9. Select the service ledger. Do not enter the Amount as the tax needs to be calculated on the partial assessable value of the stock item.
10. In the Tax Classification Details screen, enter 30% of the item value as the Taxable Value . For example, if the project cost is 5,62,70,808, calculate 30% of the cost and enter 1,68,81,242.40 as the Taxable Value .
11. Select the GST ledgers.
12. Press Alt+A to view the Tax Analysis with the breakup of assessable values and GST for goods and services.
13. Press Esc to return to sales invoice.
14. Provide e-Way Bill details, as applicable.
15. Press O to accept the invoice with altered assessable values.
The printed invoice appears as shown below:
Similarly, record the purchase transaction.
Gateway of Tally > Display > Statutory Reports > GST > GSTR-1 .
Note: If you press Enter to accept the invoice, it will appear under Incomplete/Mismatch in information (to be resolved) . You can drill-down to the transaction and click A : Accept as is . The voucher will be included in GSTR-1 .
Based on the type of exception, you can resolve it to include the voucher in GSTR-1 .
'Record Sales of Solar and Renewable Energy Projects' has been shared with
