Purchase Entry under GST in Tally Prime

 

GST Purchase Entry in Purchases Voucher in Tally Prime (Short Key: F9)

Here we will learn step by step process of making Purchase Entry under GST in Tally Prime.

To record Purchases and make Purchase Entry we have to go to Purchases Voucher in Tally. 

Before learning how to make purchase entry we should be familiar with the basics of GST.

 

Purchase Entrys are of two types:

Local Purchases or Intrastate Purchases 

Interstate Purchases

 For Local Purchases CGST & SGST is charged in Purchase Entry.

For Interstate Purchases IGST is charged in Purchase Entry.

Let's learn this with blow example:

Suppose we purchase "Item A" 2000 pcs at the rate of Rs. 30 from our supplier "Xyz P. Ltd." on 1 Apr 2021

 Follow below mentioned instructions to make Purchase Entry for the above mentioned condition in Tally Prime:

 From Gateway of Tally, press V or go to vouchers. Then we have to go to Purchases Voucher. To go to Purchases Voucher we have to press F9.

Now we will see blank Purchases voucher as shown below:

 

We have put Invoice date first. For this we have to press F2 and put date and press Enter key.

Here Invoice number comes automatically.

Now in Reference no. we have to put Invoice no. of the purchase bill and press Enter key.

Now we come to Party A/c Name. Here we have to select our Sundry Creditor from this dropdown list.

If we have not created our Sundry Creditor’s ledger in Tally yet, then we can create it by pressing Alt+C or go to Create in the dropdown list.

 Then Ledger Creation scree appears:

 

Here, fill Name, Select Under: Sundry Creditors, fill billing address of this party, select State, fill contact details, If this party is GST Registered party then select Regular in Registration Type, fill GST no. of this party and press Enter to Save this screen. After that Sundry Creditor ledger gets created in Tally.

 And now, select this Sundry Creditor’s ledger and press Enter.

Now Receipt details & Order details appear. Here we can write any reference no. if we have that, otherwise we can skip this. Save this screen and move ahead.

Now Party details screen appears. Here we can match the GST no. of this S. Creditor with the Purchase Invoice to be sure that we are entering correct party. After matching the GST No. we have to save this screen.

 

 

 

Now we have to select Purchases ledger from the dropdown list. Without creating Purchases ledger we cannot make Purchase entry in Tally Prime.

If we have not created required Purchases ledger in Tally then follow below mentioned instructions to create a new Purchases ledger.

Press Alt+C or go to Create in the dropdown list. Now ledger creation screen appears as show below:

Here, we have to write “Interstate Purchases @18%” in Name. Then select Purchases Accounts in Under: .

Now we have to select Applicable in “Is GST applicable” and press Enter key twice. We have to select Goods in “Type of Supply” and save this screen. Purchases ledger is now created.

Now we have to select Stock Item which is being sold. If we have not created Stock yet then let’s learn how we can create a new Stock Item.

Press Alt+C or go to Create in the dropdown list. Now Stock item creation screen appears as show below:

Here fill Stock Name in “Name” and Enter key and select Primary in “Under” and press Enter key.

Now we have to select Unit of stock. If we have not created Unit of stock yet then let’s learn how we can create a new Unit of stock

Press Alt+C or go to Create in the dropdown list. Now Unit creation screen appears as show below:

Here fill Formal name and select UQC as per our case.

After filling these details save this screen.

Now under Statutory Details, Select Applicable in “GST Applicable”. And now under “Set /Alter GST Details”, select Yes and press Enter key. 

Now, we will see” GST Details for Stock Item” screen. Here fill HSN no. of goods and select Taxability as Taxable and set GST rate of this stock item as shown below:

Now save this screen, select Goods in Type of Supply and press Enter key to accept the screen.

Now our Stock Item is created.

Now we will put Quantity of stock & Rate of stock in respective columns and amount is automatically shown.   

After pressing Enter key we come at next line.

Here we have to select CGST & SGST ledger. CGST & SGST ledger is selected here as it is Interstate Purchases.

If we have not created CGST & SGST ledger yet, we have to press Alt+C or go to Create in the dropdown list.

Now we will see Ledger Creation screen as shown below:

Now write “CGST” in the Name. In Under, select “Duties & Taxes” and press Enter key.

Now select “GST” in Type of duty/tax and select “Central Tax” in Tax type. Now save this screen as shown below:

Follow below instructions to make SGST ledger:

Write “SGST” in the Name. In Under, select “Duties & Taxes” and press Enter key.

Now select “GST” in Type of duty/tax and select “State Tax” in Tax type. Now save this screen as shown below:

 

 

After creating these, select CGST & SGST ledgers one by one. We will see that CGST & SGST amount are auto calculated at the rate of 9% of basic the amount for each one.

All the necessary particulars of Purchases voucher have been filled now.

Now press Enter key. We will come at Narration. If we want to write any narration then we can fill here, otherwise leave it empty and press Enter key and Accept this screen to Yes to save this Purchases Voucher.

This Purchase Entry is now complete and it gets saved in Tally. We can check this purchase entry in Purchases Register in Tally.

Learn more about Purchase Entry in Tally Prime by watching below video from our Youtube Channel:

https://youtu.be/szou8xUysvc

Now, we have learnt how we can make GST Purchase Entry in Tally Prime.