In case of Service oriented Business like…Chartered Accountant, Lawyer, Advertising Agency, Consultant, Architectures etc.. they provide Service to the customer and provide Bill / Invoice with GST Compliance. So in this case, TallyPrime provides Accounting Invoice with auto GST Calculations, provided all Service Ledgers has to be created with GST Rate ( as applicable).
Create a Ledger – Audit Fee with GST 28%
Create a Ledger, ‘Audit Fee’ under Direct Income with GST Applicable and Set/Alter GST Details – YES , with Type of Supply – Service as per screen below:
1. Set/alter GST Details – Yes , specify the details in the GST Details screen below, and save.
Nature of transaction : Select Sales Taxable from the Natures of Transactions List as above.
[Select Sales Exempt , if the type of supply is exempted from tax under GST, or select Sales Nil Rated , if the tax rate applicable to the type of supply is 0% under GST.]
To specify further GST-related details , click F12: Configure .
2. Type of supply – Services .
3. Press Ctrl + A to save.
Create the following Service Ledger under Direct Income with GST Compliance :
|Direct Income||GST Rate|
|Service Charges (12%)||12%|
|Installation Charges (5%)||5%|
|AMC Charges (15%)||18%|