Hello experts please tell me gst set off rules and how to post entry in tally software...
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Quick Summary
This discussion clarifies the rules for setting off GST taxes and provides guidance on how to record these transactions in Tally software. It explains the importance of creating separate adjustment ledgers for CGST, SGST, and IGST, and outlines the specific journal entries required for both output and input tax adjustments. The advice is aimed at helping users, particularly new accountants, achieve accurate GST accounting.
If You want to correctly understand the Tally entries for GST taxes... Then Prepare separate Gst adjustment ledgers as CGST ADJUSTMENTS, SGST ADJUSTMENTS & IGST ADJUSTMENTS.. After that provide Journal entries as follows to every GST heads...