To record business transactions in compliance with GST requirements for Special Economic Zones (SEZ), you need to configure your Company and set up the relevant GST details in TallyPrime.

This includes specifying your SEZ registration details, configuring GST rates and HSN/SAC details, setting up voucher numbering, and updating the masters used in your business. These configurations help ensure that the relevant GST details are applied while recording transactions and that the transactions are reflected appropriately in GST reports.

Enable GST and set up GST details in company

To begin with, enable GST in your Company and set the Registration Type to Regular-SEZ. This identifies your business as an SEZ-registered dealer in TallyPrime and ensures that the GST treatment applicable to your registration is considered while recording transactions.

You can also configure other GST-related details based on your business requirements:

• Configure Connected GST details to connect TallyPrime with the GST portal and manage GST returns.
• Configure e-Way Bill details if your business involves transporting goods and requires e-Way Bills.
• Configure LUT/Bond details if your business makes applicable exports without payment of IGST.
• Configure GST Reconciliation to identify differences between your books and the data available on the GST portal.
• Maintain Multiple GST Registrations if your business operates with multiple GST registrations. This allows you to record transactions, generate returns, and manage filing separately for each registration.

To know more, refer to Set Up GST Details in Company.

Set up GST rates and HSN/SAC details

Every product or service you deal in may have specific GST rates and HSN/SAC details. Setting up these details in advance helps TallyPrime apply the appropriate GST information while recording sales and purchase transactions.

You can specify GST rates and HSN/SAC details at different levels, depending on your business requirements.

• Set HSN/SAC details at the Company, Ledger, Group, Stock Item, or Stock Group level to classify your goods and services.
• Set GST rates at the Company, Ledger, Group, Stock Item, or Stock Group level, based on the nature of your business.
• View and update the configured rates and HSN/SAC details from the GST Rate Set Up report.
• Validate HSN/SAC details online from TallyPrime to check the details against the available portal information.

To know more, refer to Set Up GST Rates and HSN/SAC Details.

Set up voucher numbering

Every transaction recorded in TallyPrime is assigned a voucher number. Configuring voucher numbering helps you maintain an organised and sequential record of your business transactions.

You can choose your preferred voucher numbering method based on your business requirements.

If your business operates with multiple GST registrations, you can also maintain separate voucher numbering series for each registration. This helps you identify and manage transactions recorded under different registrations.

TallyPrime also allows you to create multiple voucher numbering series from the voucher type or the Chart of Accounts.

Set up GST for masters

Once your Company is configured, set up the GST details in the masters used for recording your business transactions. This ensures that the required tax rates, HSN/SAC details, and party registration information are available when you record sales, purchases, and other transactions.

Depending on your business requirements, configure the following masters:

• Sales and Purchase Ledgers to record sales and purchases with the appropriate GST details.
• Stock Items to maintain GST rates and HSN details for the goods you purchase, manufacture, or sell.
• GST Duty Ledgers to account for the applicable GST components in your transactions. Supplies involving an SEZ unit are treated as inter-State supplies under GST, and IGST is applicable where tax is payable.
• Service Ledgers to record the services you provide or purchase with the relevant GST details.
• Expense and Income Ledgers to account for business expenses and income with the applicable GST details.
• Party Ledgers to maintain the GST registration details of your customers and suppliers. If a party is registered under an SEZ, set its Registration Type to Regular-SEZ.

You can also fetch party details from the GST portal using the party’s GSTIN/UIN. You can do this while creating or altering the party ledger, from the Validate Party GSTIN/UIN report, or while recording a voucher.