Free Online Tally.ERP9 Help & Tutorial : www.tallyerp9help.com



GST Reverse Charge on Advance Received from Customer against Sale in Tally.ERP9 (If Turnover is more than Rs.1.5 Crores)

You can record the advance amount received from customers in a receipt voucher by marking it as advance receipt against Sale of Goods and Services , and print it with the required GST details.

You need to pay GST for any advance received for supply of goods or services, if the supply is not fulfilled in the same period.

When a sales invoice is raised against an advance received in a different tax period, you need to track the sales against the advance received.

If the turnover of your business is over and above Rs 1.5 crores, set the option Enable tax liability on advance receipts to Yes in the Company GST Details screen to calculate tax liability on advance receipts. The liability will be included in GSTR-1 and GSTR-3B returns.

F11 : Features > F3 : Statutory > Set / Alter GST Details to YES

Enable Tax Liability in Advance Receipts in GST Details in TallyERP9
(Fig-82)

GST on Advance Receipts from Customer against Sale in Tally.ERP9 is having the following situations and all their treatment :

  1. Advance Received from Customer against Sale in Tally.ERP9

    1. To record a Receipt Voucher for Advance Received from Customer against Sale in Tally.ERP9
  2. Raise Liability for GST on Advance Received from Customer against Sale in Tally.ERP9

  3. Reversing GST Liability on Advance Received from Customer after Sale in Tally.ERP9

    1. Linking of Advance Receipt Voucher with Sales invoice (Alt+I : Accouting Invoice)
    2. Reverse the Tax Liability on Advance Receipt after Sales in Tally.ERP9
  4. Reversal of GST on account of Refund of Advance Received (Partially or Fully) from Customer against Sale in Tally.ERP9

    1. Record a Refund Voucher of Advance Received on Sale
    2. Decrease of GST Liability on Refund of Advance Received against Sale

1. Advance Received from Customer against Sale in Tally.ERP9

(A) To record a Receipt Voucher for Advance Received from Customer against Sale in Tally.ERP9

1.  Go to Gateway of Tally > Accounting Vouchers > F6: Receipt .

[ Note : Set the option Maintain Bill-wise details to Yes in F11 : Features under Outstanding Management]

Receipt Voucher for Advance Received from Customer against Sale in Tally.ERP9
(Fig-83)

2.  Click : Nature of Receipt > Advance Receipt to mark the voucher for advance receipt.

Nature of Receipt Window against Advance Received for Sale voucher in TallyERP9
(Fig-84)

3.  Account : Select the bank to which the payment will be made.

4.  Select the party ledger. Ensure the bill-wise details is enabled in the ledger master.

The Advance Receipt Details screen appears with the list of stock items.

Advance Received Screen from Customer against Sale in TallyERP9
(Fig-85)

To select a ledger, click : Show Ledgers . Click F12: Configure and set the options:

Configure of Show Ledger Screen Advance Received Screen from Customer against Sale in TallyERP9
(Fig-86)

  • Allow to provide rate of stock items? to Yes , to enter/alter the slab rate of the stock item.

  • Allow to provide quantity for calculation of cess on quantity? to Yes , to enter the cess rate and cess rate per unit.

  • Allow modification of tax details? to Yes , to override the GST and cess rates in the voucher.

5.  Select the stock item (goods enabled for GST) i.e. Computer or ledger (services enabled for GST).

6.  Enter the Advance Amount , which is inclusive of GST . You can adjust this against the sales invoice partially/fully, based on the sale value.

At the end of the month, depending on the balance amount of the advance available, you can record a journal voucher to raise the liability.

Based on the amount entered, the break-up of the GST amount gets auto calculated for Central Tax , State Tax , and Cess , if applicable. The Advance Receipt Details screen appears as shown below:

Advanced Received Details against Sale in TallyERP9
(Fig-87)

7.  Press Ctrl+A to accept the Advance Receipt Details screen and return to the receipt voucher.

8.  Select the type of reference as Advance and enter the reference details in the Bill-wise Details screen.

9.  Accept the receipt voucher.

10.  Click : Print . To print the State Name , Code , and Place of Supply in the voucher,

click F12: Configure and set the options as given below:

  • Print State Name & State Code? to Yes .
  • Print Place of Supply? to Yes .
  • Press Ctrl+A to accept.

F12-Configure-Advanced Received Voucher against Sale in TallyERP9
(Fig-88)

11.  Set Print GST Advance Receipt? to Yes , as shown below:

Print GST Advance Receipt Voucher in Tally.ERP9
(Fig-89)

12.  Press Enter to print.

The printed receipt voucher with the GST details appears as shown below:

Print Preview of Advance Receipt against Sale in TallyERP9
(Fig-90)

2. Raise Liability for GST on Advance Received from Customer against Sale in Tally.ERP9

To record a journal voucher to raise the liability

1. Create a Ledger i.e. Tax on Advance Received under Current Asset

2. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

Journal Voucher to Raise Liability for GST on Advance Received from Customer against Sale in Tally.ERP9
(Fig-91)

2.  Click : Stat Adjustment .

3.  Select the options as shown below:

Stat Adjustment in Journal Voucher on Advance Received on Sale in TallyERP9
(Fig-92)

4.  Debit the Ledger 'Tax on Advance Received' grouped under Current Assets.

5.  Credit the GST ledgers (i.e. Output CGST and Output SGST) for the GST on advance receipt.

Enter the tax Rate and T axable Value in the GST Details screen displayed for each tax ledger.

Rate and Taxable Value in Raising Tax Liability Voucher
(Fig-93)

6.  Set the option Provide GST Details? to Yes .

Provide GST Details in Raising Tax Liability Voucher
(Fig-94)

7.  In the Statutory Details screen, select the party ledger.

Advance Details Screen under Provide GST Details in Raising Tax Liability Voucher in TallyERP9
(Fig-95)

Note: Place of supply has to be entered. You need not provide the party details.

8.  Press Enter to save.

9.  Press Ctrl+A to accept the voucher.

The tax liability raised on the advance amount appears in GSTR-1 , as shown below:

GSTR-1 Report for GST on Advance Received against Sale in TallyERP9
(Fig-96)

3. Reversing GST Liability on Advance Received from Customer after Sale in Tally.ERP9

(A) Linking of Advance Receipt Voucher with Sales invoice (As Voucher format)

When the sales invoice is recorded, the receipt voucher has to be linked to it by selecting the Type of Ref as Agst Ref in the Bill-wise Details screen of the sales invoice.

Linking of Advance Received Voucher with Sales Invoice in TallyERP9
(Fig-97)

The GSTR-1 report displays the sales invoice, with tax on sales and advance amount as shown below:

GSTR-1 Report after Sale against Advance Received perviously in TallyERP9
(Fig-98)

(B) Reverse the Tax Liability on Advance Receipt after Sales in Tally.ERP9

1.  Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2.  Click : Stat Adjustment .

3.  Select the options as shown below:

Stat Adjustment Details on Reverse of GST Liability Journal Voucher in TallyERP9
(Fig-100)

4.  Debit the GST ledgers, and enter the tax Rate and Taxable Value in the GST Details screen displayed for each tax ledger.

5.  Credit the expense ledger, or the ledger grouped under Current Assets for tax on advance receipt.

Decrease in Tax Liability Voucher for Sales against Advance Receipt in TallyERP9
(Fig-99)

6.  Set the option Provide GST Details to Yes . Enter the details of advance receipt and select the party ledger.

Advance from Customer Details on Decrease in GST Liability Journal Voucher in TallyERP9
(Fig-101)

The GSTR-1 report appears as shown below:

GSTR-1 Report after Decreasing Tax Liability for Sales against Advance Receipt in TallyERP9
(Fig-102)

4. Reversal of GST on account of Refund of Advance Received (Partially or Fully) from Customer against Sale in Tally.ERP9

(A) Record a Refund Voucher of Advance Received on Sale

1.  Go to Gateway of Tally > Accounting Vouchers > F5: Payment .

2.  Click : Nature of Payment > Refund of Advance Receipt .

Nature of Payment of Refund Voucher of Advance Received on Sale in TallyERP9
(Fig-103)

3.  Select the bank Account .

4.  Select the party ledger. Ensure the bill-wise details is enabled in the ledger master.

Refund Voucher of Advance Received on Sale in TallyERP9
(Fig-104)

5.  Click F12: Configure > F12: Advanced . Enable the option Show Party Details for GST? to view the Party Details screen, and provide the relevant details.

Party Details in Refund Voucher of Advance Received on Sale in TallyERP9
(Fig-105)

6.  In the Refund Details section, the list of stock items appears for selection. To select a ledger, click : Show Ledgers . Click F12: Configure and set the options:

  • Allow to provide rate of stock items? to Yes , to enter/alter the slab rate of the stock item.
  • Allow to provide quantity for calculation of cess on quantity? to Yes , to enter the cess rate and cess rate per unit.
  • Allow modification of tax details? to Yes , to override GST and cess rates in the voucher.

7.  Select the stock item (goods enabled for GST) or ledger name (services enabled for GST).

8.  Enter the Refund Amount , which is inclusive of GST. The break-up of the GST amount gets auto calculated for Central Tax , State Tax , and Cess , if applicable. The Refund Details section appears as shown below:

Refuind Details in Refund Voucher of Advance Received for Sale in TallyERP9
(Fig-106)

9.  Press Ctrl+A to accept and return to the payment voucher.

10.  Select the type of reference as Agst Ref , and select the reference details in the Bill-wise Details screen.

11.  Set Provide GST details? to Yes , and enter the Receipt No. and Date of the advance receipt.

12.  Press Enter to save.

13.  Click : Print and set Print Refund Voucher? to Yes , as shown below:

Printing Voucher Setup of Refund of Advance Received against Sale in TallyERP9
(Fig-107)

14.  Press Enter to print.

The printed refund voucher appears as shown below:

Print Preview of Advance Refund Voucher to Customer in TallyERP9
(Fig-108)

(B) Decrease of GST Liability on Refund of Advance Received against Sale

1.  Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2.  Select the options as shown below:

Decrease of GST Liability on Refund of Advance Received against Sale in TalltyERP9
(Fig-109)

3.  Debit the GST ledgers and credit the ledger grouped under Current Assets .

4.  Enable the option Provide GST Details?

5.  Enter the details of the receipt voucher and refund voucher, and select the party ledger as shown below:

Advance details on Refund Voucher of Advance Received against Sale in TalltyERP9
(Fig-110)

Note: Place of supply has to be entered. You need not provide the party details.

6.  Press Enter to save. The journal voucher appears as shown below:

Journal Voucher for Decrease in GST Liability due to Refund of Advance to Customer in TallyERP9
(Fig-111)

7.  Press Enter to save.

The GSTR-1 report appears as shown below:

GSTR-1 Report after Refund of Advance Received and Decrease in GST Liability in TallyERP9
(Fig-112)

 
Purchase of Goods and Services under Reverse Charge Mechanism (RCM) in Tally.ERP9 GST Using Tally.ERP9 GST Reverse Charge on Advance Payment to Supplier against Purchase in Tally.ERP9


Get...Tally.ERP9 Book + GST Assignment (2 Set) @ Rs.550


 
Disclaimer :

Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP 9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners.

The visitors may click here to visit the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications

Trademarks :
Tally,Tally GST,TallyERP9 GST, Tally9, Tally.ERP, Tally.ERP –9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners. This Website is not associated with any product or vendor mentioned in this Website
About | Privacy Policy |
© 2019 : www.tallyerp9help.com