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Record Advances Received Under GST in TallyPrime

|For TallyPrime Release 3.0 & Later|

|For TallyPrime Release 2.1 & Earlier|

In TallyPrime, you can record advances received with or without impacting GST, as required. If the advance and the corresponding invoice are recorded in the same return period, GST need not be accounted for separately on the advance. Otherwise, you can account for GST on the advance and adjust it later.

1. Press Alt+G (Go To) > Create Voucher > F6 (Receipt).
2. Press Alt+J (Stat Adjustment) > select Nature of Receipt as Advance Receipt.
   
3. Under Account, select the cash or bank account.
4. Under Particulars, select the party from whom you have received the advance payment.
5. In Advance Receipt Details screen, enter the required details.
   1. Particulars: Select the applicable sales ledger.
   2. Advance Amount: Enter the advance amount received from the party.
   3. Taxable Value is populated based on the tax details in the ledger.
   4. Press Ctrl+A to save the Advance Receipt Details screen.
      
6. Provide other necessary details in the voucher and press Ctrl+A to save the voucher.

The voucher will be included in GSTR-1 under Table 11 – Tax Liability (Advances Received).

Questions & Answers

• How can I record an advance received without impacting my GST?
  While recording the advance received, enter the amount in the Advance Amount field without selecting tax ledgers. TallyPrime calculates the tax only as an indicative value, and it is not included in the GSTR-3B computation.
  • If the sales invoice is recorded in the same return period, GST is accounted for through the invoice itself. The advance voucher does not separately impact GST ledgers.
  • If the sales invoice is recorded in a later return period, GST is accounted for when the invoice is recorded in that later period.