Hello
In tally there are 3 tax ledgers viz. igst, cgst and sgst. Is it necessary to transfer the balance amount in every month to other taxes account as same as setoff method followed in gst portal.
Bcz i think it is necessary and beneficial to finalise the account properly
Kindly clarify the same.
Thanks
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Tally Account
Replies (7)
Yes you should do the intra head set-off and inter head set-off on monthly basis for proper maintenance of accounts. This will help you in finalizing the annual accounts along with annual GST returns.
only open 3 receivable account, 3 payable accounts and 3 cash wallet accounts.
Thank u Mr.Harshit and Mr.Nitin
do you know how to to configure the GST implementation in tally?
every month make journal for gst payment.
first create a ledger gst paid account under current assets
and adjust all cgst,sgst and igst
first create a ledger gst paid account under current assets
and adjust all cgst,sgst and igst
agred with arun sir sir answer
ok thank u Mr arun and Mr. Pritesh
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