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GST - Information Technology: EximGuru.com





In the era of modern economy and technology adoption Information technology plays a vital role in doing business remotely or in automatic mode. With the introduction of GST in India, many upgradations in the technology are required viz. upgradation of software version, upgradation of information in the software etc. Step by step actions required to be taken are as follows:

Upgradation of Accounting Software :

First Step of Practical implementation of GST is to upgrade the Version ofAccounting Software

In case you are using Tally.ERP9 you have to update the version to Beta 6.0

Upgrade the version of Tally.ERP9


Upgrade your Tally.ERP9 version to
Release 6.0

Configuration of GST in the Software :

Entity is required to update GST details of the entity i.e. Legal Name, GSTIN Number etc.

For Updation of details, please refer the "Company Profile of the Entity"

Process


Gateway of Tally
F11(Company Feature)
Statutory & Taxation
Enable GST as "Yes"
Set/Alter GST Details as "Yes"
Select State & Registration Type
Enter GSTIN
Save it

Updation of Inventory Details :

In the GST, entity have to submit the records of sales and purchases with GST Authority in the following manner

Party Wise

Rate Wise

SAC / HSN Code

If you are not maintaining the inventory in your accounting software update the details of stock in quantity, rate and value, as on 30-06-2016.

After Updation of Stock details as on 30-06-2016, Update HSN/SAC Codes of stocks


Process for Updation of HSN/SAC Code for Stock Items


Gateway of Tally
Display
Statutory Reports
GST
GST Rate Setup
Select Goods/Service
Atl + S
Enter Description of Good/Service, HSN/SAC and Integrated Tax Rate
Save it

# For details about product code please refer entity master profile.

Updation / Creation of Vendor or Customer Ledger :

In the GST, entity have to submit the following records i.r.t. Sales and Purchase, with GST Authority

GSTIN/UIN detail of party

Particulars from the sale or purchase invoice like Invoice No, Invoice Date, Invoice Value, Rate of Tax, Taxable Value, Amount of each Tax, place of supply etc.

Process of Updation of Party Ledger Account


Gateway of Tally
Display
Statutory Reports
GST
Update Party GSTIN
Select Name of Group
Select Name of Group
Enter Description of Party from Master File

Process of Creation of Party Ledger Account


Gateway of Tally
Accounts Info.
Ledger
Single Ledger
Create
Type Party Name
Select Group (Sundry Debtors/Creditors)
Enter others like Mailing Address, Bank Details as Usual
Select Yes Option to "set/alter GST details"
Select Registration Type, enter GSTIN, select party type
Save it

Creation of Tax Ledgers :

In the GST, entity have to maintain records of input and output taxes under CGST, SGST, UTGST & IGST. Therefore, entity is required to create ledgers accordingly:

Process of Creation of Tax Ledger Account



Gateway of Tally
Accounts Info.
Ledger
Single Ledger
Create
Type CGST/SGST/IGST (Different for Input & Output)
Select Duties & Taxes under field
Select GST as type of duty/tax
Central/State/Integrated Tax
Central/State/Integrated Tax
Save it

Updation of Income/Expense/Sales/Purchase Ledgers :


Gateway of Tally
Accounts Info.
Ledger
Single Ledger
Alter
Select Particular Ledger
Unable GST Applicable(if applicable) under Statutory Information
Select Yes as "set/alter GST Details"
Select Nature of Transaction Select
Taxability
Select Type of Supply as Goods/Services
Save it

Creation of Income/Expense/Sales/Purchase Ledgers :


Gateway of Tally
Accounts Info.
Ledger
Single Ledger
Create
Type Name of Ledger
Select Appropriate Group
Unable GST Applicable(if applicable) under Statutory Information
Select Yes as "set/alter GST Deatils"
Select Nature of Transaction Select
Taxability
Select Type of Supply as Goods/Services
Save it

Creation of GST Reports :


Gateway of Tally
Display
Statutory Reports
GST
GSTR -01 or 02
Resolved the Error as appeared in Summary Option (in Forth Row from Top)
Ctrl +E (to Generate Excel File)


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