https://help.tallysolutions.com/docs/te9rel64/Tax_India/gst/recording_purchases_gst.htm

Record Purchases under GST - Local, Interstate, and Fixed Assets

Once you activate GST in your company, you can record the purchase of goods and services (inward supply) that attract GST using a purchase voucher. You can provide unique voucher numbers for your purchase vouchers, and use a new series of voucher numbering.

Local purchase

Interstate purchase

Purchase of fixed assets

Local purchase

The purchase of goods or services from a supplier in the same state attracts central tax and state tax.

To record a local purchase transaction

1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase .

Supplier invoice no.: Enter the sales invoice no. of the supplying party.

Date: Enter the date on which the sales invoice was passed by the supplier.

2. In Party A/c name , select the supplier's ledger or the cash ledger.

3. Select the purchase ledger applicable for local taxable purchases.

4. Select the required items, and specify the quantities and rates.

5. Select the central and state tax ledgers.

You can view the tax details by clicking A : Tax Analysis . Click F1 : Detailed to view the tax break-up.

Interstate Purchase

The purchase of goods or services from a supplier from another state attracts integrated tax.

To record an interstate purchase

Follow the steps used for recording a local purchase transaction , with the following changes:

o Select the purchase ledger applicable for interstate purchases.

o Select the integrated tax ledger.

Depending on the location of the supplier, you can record a local or interstate purchase transaction with the applicable GST rates.

Purchase of Fixed Assets

You can record taxable or exempt purchases of fixed assets (capital goods).

To create a fixed asset ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Group it under Fixed Assets .

3. Select the required Nature of transaction . You can select the following natures of transaction for capital goods:

Imports Exempt

Imports Taxable

Interstate Purchase Exempt

Interstate Purchase From Unregistered Dealer - Services

Interstate Purchase Taxable

Purchase Deemed Exports - Exempt

Purchase Deemed Exports - Taxable

Purchase Exempt

Purchase From SEZ - Exempt

Purchase From SEZ - Taxable

Purchase From SEZ (Without Bill of Entry) - Exempt

Purchase From SEZ (Without Bill of Entry) - Taxable

Purchase From Unregistered Dealer - Exempt

Purchase From Unregistered Dealer - Nil Rated

Purchase From Unregistered Dealer - Taxable

Purchase Taxable

4. Select the Nature of goods as Capital Goods .

5. Accept the GST Details screen.

6. Press Enter to save.

To record the purchase of fixed asset

1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase .

2. Click F12: Configure > F12: Advanced > set Allow expenses/fixed assets in purchase vouchers to Yes .

3. Enter the Supplier invoice no. and Date .

4. Credit the party ledger, and enter the fixed asset value inclusive of tax.

5. Debit the fixed asset ledger and enter the assessable value.

6. Debit the tax ledgers and enter the tax amount.

7. Press Enter to save.