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Set Up Expense Ledgers for GST

If your business maintains and tracks expenses and the impact of the expense on GST calculation, you can create the required expense ledgers and configure them for GST. 

1. Create your Expense ledgers, under Direct Expenses or Indirect Expenses.
2. Set up the ledger for assessable value calculation.
   If your ledger must be set with GST rate details, ignore this step and move to step 3.
   
   1. Type of Ledger: Not Applicable.
   2. Set Include in Assessable Value Calculation as GST.
      
   3. Appropriate to: Select:
      1. Goods: If the expense or income value has to be included in the stock item cost.
      2. Services: If the expense or income value has to be included in the service value. 
      3. Good & Services: If the expense or income value has to be included in stock item cost or service value.
   4. GST applicability: This is set to Not Applicable and cannot be changed.
3. Set up the ledger for ITC Reversal.
   1. GST Applicability: Applicable.
   2. Set HSN/SAC & Related Details and GST Rate & Related Details, as required
   3. Type of Supply: Select Goods, Services or Capital Goods.
      
4. Fill in other necessary details, and press Ctrl+A to save the ledger.