GST - Information Technology: EximGuru.com
Information Technology
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) |