To record a GST transaction, you have to activate GST and also update or create the required ledgers.
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To know more about using Tally.ERP 9 for GST compliance, watch the following video:
1. Activate GST
Note: You can find the list of HSN codes/SAC on the website of the department of revenue.
Depending on the business requirements you will need to update the following ledgers, either immediately or later.
● Update stock items, and stock groups to include GST details.
● Update sales and purchase ledgers to use in GST transactions.
● It is recommended that you restart voucher numbering for GST transactions to ensure that unique voucher numbers are used for all your vouchers. If Automatic (Manual Override) is set as the method of voucher numbering, it ensures that unique voucher numbers are set for your vouchers.
● Update party GSTIN/UIN for parties buying from you or selling items to you.
● Create GST tax ledgers to calculate taxes in transactions.
● Create income and expense ledgers to distribute the expenses and incomes against items appropriately.
GST amount appears in the invoices based on the tax defined in the masters, in the following order:
1. GST classification when linked to accounts and inventory masters
3. Account Group
4. Stock Item
5. Stock Group
Ensure you select the ledgers, and stock items predefined with the required GST rates. You can also define the required GST rate in the invoice.
If GST is not getting calculated, refer the topic Why GST is not calculated automatically .
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