How to Grow Your CA Practice
Certification Course on ChatGPT and AI Tools for Professionals
Certification Course on How to Automate Your CA Practice With AI Tools
Get the latest knowledge and news delivered straight to your inbox.
Hi Sir
Please advise
CGST Input
SGST Input
CGST Out put tax
SGST Output tax
classifications in Tally prime
Thanks
In Tally Prime, you can classify the CGST, SGST, IGST, and cess under the following categories: Tax Classification in Tally Prime *1. CGST Input* - *Tax Type*: Central Tax - *Tax Ledger*: CGST Input (under Duties & Taxes) - *Classification*:
Input Credit *2. SGST Input* - *Tax Type*: State Tax - *Tax Ledger*: SGST Input (under Duties & Taxes) - *Classification*: Input Credit
*3. CGST Output Tax* - *Tax Type*: Central Tax - *Tax Ledger*: CGST Output (under Duties & Taxes) - *Classification*: Output Tax
*4. SGST Output Tax* - *Tax Type*: State Tax - *Tax Ledger*: SGST Output (under Duties & Taxes) - *Classification*: Output Tax
*5. IGST Input* - *Tax Type*: Integrated Tax - *Tax Ledger*: IGST Input (under Duties & Taxes) - *Classification*: Input Credit
*6. IGST Output Tax* - *Tax Type*: Integrated Tax - *Tax Ledger*: IGST Output (under Duties & Taxes) - *Classification: Output Tax
7. Cess Input* - *Tax Type*: Cess - *Tax Ledger*: Cess Input (under Duties & Taxes) - *Classification*: Input Credit *8. Cess Output Tax* - *Tax Type*: Cess - *Tax Ledger*: Cess Output (under Duties & Taxes) - *Classification*:
Output Tax To classify these taxes in Tally Prime: 1. Go to *Gateway of Tally* > *Accounts Info* > *Ledgers* > *Create*.
2. Create separate ledgers for CGST Input, SGST Input, CGST Output, SGST Output, IGST Input, IGST Output, Cess Input, and Cess Output under *Duties & Taxes*.
3. Set the *Tax Type* and *Tax Ledger* accordingly for each ledger.
4. Classify the ledgers under *Input Credit* or *Output Tax* as applicable. By following these steps, you'll be able to accurately classify CGST, SGST, IGST, and cess in Tally Prime.
Your are not logged in . Please login to post replies Click here to Login / Register
More recent discussions | Post
India's largest network for finance professionals
Alternatively, you can log in using: