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

Updating Sales and Purchase Ledgers for GST Compliance

If many items you sell have the same tax rate, specify the tax rate and other GST details in your sales ledger. Similarly, if the items you purchase have the same tax rates, update your purchase ledger.

If you sell items with multiple tax rates, you can maintain a single sales ledger and record all GST details at the stock item or stock group level. Similarly, you can create a single purchase ledger.

The HSN details, tax rate, and type of supply selected in sales and purchase ledger will be applicable to all items or services selected in a transaction where these ledgers are applied. These details specified in the stock items will be overridden in the transaction with the details configured in the sales or purchase ledger.

Updating a Sales Ledger

Updating a Purchase Ledger

Updating a Sales Ledger

To update a 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 , specify the details in the GST Details screen, and save. Alternatively, you can use a classification to use the tax details defined in the classification.

Taxability : Select Taxable , if sales ledger is used for supply of goods and services that are classified as taxable under GST. Select Exempt , if it is used for sale of type of supply that is exempted from tax under GST, or select Nil Rated , if it is used for sale of goods or services that attract 0% tax rate under GST.

To view the history of tax rate changes, press Alt + L .

To specify further GST-related details , click F12: Configure .

4. Select the Type of supply . By default the type of supply is set to Services .

5. Press Ctrl + A to save.

Updating a Purchase Ledger

To update a purchase ledger

Follow the steps used for updating the sales ledger, with the nature of transaction and rates for purchase.

While recording a sale or purchase transaction, you can select the respective ledger.