Creating a Tax Ledger

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

  1. In the Ledger Creation screen enter the name of the GST ledger in the Name field

  2. In the Under field, select Duties & Taxes from List of Groups

  3. Set Inventory Values are affected to No

  4. Set the Percentage of Calculation to 10%

  5. Select the Method of Calculation from the Type of Duty menu

  6. Select GST Deductible – Input Tax from the GST Type menu in the GST Account Type field.

  1. Accept the screen to save.

Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.

Similarly create a ledger for GST Output, by selecting GST Account Type as GST Payable – Output Tax.