Add to Favourites

Set Up Service Ledgers for GST

If your business deals with services, you will need to set up the service ledger with the required GST details. You can also specify the GST details of the service in your Company, especially if your Company’s services fall under a common SAC or GST rate.

1. Create a Service Ledger under Direct Incomes/Indirect Incomes, as applicable.
2. Set Include in Assessable Value calculation to Not Applicable.
3. Configure the service ledger for GST.
   1. Set GST applicability to Applicable.
   2. Specify the SAC and GST Rate details for the service.
4. Configure the service ledge for RCM.
   1. Press F12 (Configure) > set Enable Reverse Charge calculation to Yes.
   2. Set Applicable for Reverse Charge to Yes.
      For TallyPrime 2.1 & earlier, set Is reverse charge applicable to Yes.
5. Select Type of Supply as Services.
   
6. Enter the remaining details and press Ctrl+A to save the ledger.