Some goods and services are classified as reverse charge supplies which do not have any tax implications for sales. You can record such invoices and view the tax break-up in the tax analysis section of the printed invoice. The transactions will be captured in the B2B invoices section of the GSTR-1 report, with the tax break-up of the buyer's liability.
To configure your sales ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Alter > select the sales ledger.
2. Is GST Applicable? - Applicable .
3. Set/alter GST details? - Yes . In the GST Details screen:
● Taxability - Taxable .
● Press F12: Configure and set Enable reverse charge calculation? to Yes .
● Is reverse charge applicable? - Yes .
Note: If a reverse chargeable service is created as a stock item, set the option Is reverse charge applicable? to Yes in the GST Details screen of stock item.
● Enter the GST rates.
4. Accept the ledger.
To record a sales invoice for reverse chargeable service
● Record an accounting invoice with the sales ledger enabled for reverse charge.
● The Tax Analysis screen (click A : Tax Analysis in the sales invoice) displays the tax under reverse charge.
● The printed accounting invoice appears with the tax analysis and the information that the tax amount is subject to reverse charge.
To view the buyer's liability in GSTR-1 report
1. Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-1 .
2. Press Enter on B2B Invoices . The Voucher Register displays the reverse charge liability of buyer.
Your email with the article link has been sent.