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GST Reverse Charge on Advance Payment to Supplier against Purchase in Tally.ERP9

You can...

- Record Advance Payments made to Registered or Unregistered Supplier against Purchase in a Payment Voucher,

- Raise Liability in Journal Voucher for Advance Payment,

- Reverse Tax Liability on Purchase against Advance Payment to Supplier

- Record a Refund in Receipt Voucher if Advance Payment Transaction is Cancelled, and

- Cancel the Tax Liability on Advance Payment due to Cancellation in Journal Voucher.

1. Record Advance Payments made to Registered or Unregistered Supplier against Purchase in a Payment Voucher in Tally.ERP9

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

2.  Click : Nature of Payment > Advance payment under reverse charge to mark the voucher for advance payment.

Selection of Nature of Payment in Payment Voucher made to Supplier under Reverse Charge in TallyERP9
(Fig-113)

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

4.  Select the party ledger enabled for bill-wise details.

5.  In the Advance Payment Details screen, click F12: Configure and set the option:

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.

Note : In the Advance Payment Details screen:

  • All the stock items or ledgers are displayed when the party is an unregistered dealer.
  • Only stock items or ledgers which attract reverse charge ( Is reverse charge applicable? is set to Yes in stock item master) are displayed when the party is a regular dealer.
  • To select a ledger, you can click : Show Ledgers .

6.  Select the Stock Item or Ledger Name (enabled for GST), and enter the Advance Amount .

Selection of Ledger or Stock Item for details of Advance Payment to Supplier against Purchase in Tally.ERP9
(Fig-115)

The Advance Amount appears as the Taxable Value , and the tax amount is calculated on this. The tax values shown in the Advance Payment Details is the amount on which you need to generate the liability in a journal voucher if the purchase invoice is not recorded within the return period.

The tax type appears as integrated tax or central tax and state tax, based on the state selected for the party ledger.

7.  Accept the Advance Payment Details screen .

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

Advance Payment Voucher under Reverse Charge in TallyERP9
(Fig-116)

9.  Press Enter to accept.

(A) Print Payment Advice of GST Advance Payment under Reverese Charge in TallyERP9

1.  Click : Print in the payment voucher .

2.  Set Print GST Advance Payment? to Yes , as shown below:

Print Payment Advice of GST Advance Payment under Reverese Charge in TallyERP9
(Fig-117)

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

Print Preview of Advance Payment to Supplier under Reverse Charge in TallyERP9
(Fig-118)

The advance payment voucher is captured in GSTR-2 as shown below:

GSTR-2 Report on Advance Payment to Supplier under Reverse Charge in TallyERP9
(FIG-119)

2. Raise Liability for GST on Advance Payment to Supplier under Reverse Charge in Tally.ERP9

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

2.  Click : Stat Adjustment .

3.  Select the options as shown below.

Selection of Stat Adjustment in Journal Voucher for Increase of Tax Liability in TallyERP9
(Fig-120)

4.  Debit the expense ledger or ledger grouped under Current Assets and credit the GST ledgers for the tax on advance.

5.  Set the option Provide GST Details to Yes and select the party details.

The journal voucher appears as shown below:

Journal Voucher for Increase of Tax Liability for Advance Paid under Reverse Charge in TallyERP9
(Fig-121)

6.  Press Enter to save.

The tax liability raised on the advance amount appears in GSTR-2 as shown below:

GSTR-2 Report after Increase of Tax Liability for Advance Paid under Reverse Charge in TallyERP9
(Fig-122)

3. Reverse Tax Liability on Purchase against Advance Payment to Supplier in Tally.ERP9

(A) Linking of Purchase Voucher wtih Payment Voucher toward Advance Paid to Supplier (As Voucher format)

When the Purchase invoice is recorded, the Payment 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.

Record a purchase invoice by adjusting the bill reference as shown below:

Purchase Voucher with Adjustment of Advance Payment made under Reverse Charge to Supplier in TallyERP9
(Fig-123)

The invoice appears in GSTR-2 report under:

  • B2B Invoices if the party is a registered dealer.
  • B2BUR Invoices if the party is an unregistered dealer.

(B) Reverse Tax Liability on Purchase against Advance Payment to Supplier in Tally.ERP9

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

2.  Click : Stat Adjustment , select the:

  • Nature of Adjustment - Decrease of Tax Liability .
  • Additional Details - Purchase against Advance Payment .

3.  Debit the GST ledgers and credit the expenses/current asset ledger.

4.  Set the option Provide GST Details? to Yes and select the party ledger.

Journal Voucher towards Reverse Tax Liability on Purchase against Advance Payment in TallyERP9
(Fig-124)

5.  Press Enter to save.

The transaction details appear in GSTR-2 as shown below:

GSTR-2 Report on Reverse Charge Inward Supplies towards Advance Paid and Adjusted in Purchase in TallyERP9
(Fig-125)

4. Refund Voucher of Advance payment under Reverse Charge agaist Purchase with Cancellation of Tax Liability to the extent Refund in Tally.ERP9

If the advance payment transaction is cancelled fully or partially, you can record it in a receipt voucher by marking it as a refund voucher.

(A) Refund Voucher of Advance payment under Reverse Charge agaist Purchase

Record refund voucher for purchases from registered dealers

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

Receipt Voucher towards Redunf of Advance Payment under Reverse Charge agaist Purchase in TallyERP9
(Fig-126)

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

Nature of Refund under Refund of Advance Payment in TallyERP9
(Fig-127)

3.  Select the bank Account.

4.  Select the party ledger enabled for bill-wise details. In the Refund Details section, the list of stock items are displayed for selection. To select a ledger, click : Show Ledgers . Click F12: Configure and set the option:

  • 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 or Ledger Name (enabled for GST).

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

Refund Details with GST in Receipt Voucher on Refund of Advance Paid under Reverse Charge against Purchase in TallyERP9
(Fig-128)

The Advance Amount appears as the Taxable Value , and the tax amount is calculated on this. The tax values shown in the Advance Payment Details is the amount on which you need to decrease the liability in a journal voucher.

7.  Press Ctrl+A to accept and return to payment voucher.

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

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

10.  Press Enter to save.

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

Printing Setup Option in case of Refund of Advance Payment Voucher under Reverse Charge in TallyERP9
(Fig-129)

The printed refund voucher appears as shown below:

Print Prview of Refund Voucher of Advance Paid under Reverse Charge in TallyERP9
(Fig-130)

(B) Cancellation of Tax Liability to the extent of Refund of Advance Payment under Reverse Charge in Tally.ERP9

1.  Go to the journal voucher.

2.  Click : Stat Adjustment

3.  Select the options as shown below.

Stat Adjustment in Journal Voucher for Decrease in Tax Liability in TallyERP9
(Fig-131)

4.  Debit the GST ledgers and credit the expense ledger, or ledger grouped under Current Assets .

5.  Enable the option Provide GST Details and enter the transaction details.

Refund of Advance Paid Details from Supplier under Reverse Charge in TallyERP9
(Fig-132)

6.  Press Enter to save.

Journal Voucher for Decrease of Tax Liablility for Cancellation of Advance Payments under Reverse Charge in TallyERP9
(Fig-133)

7.  Press Enter to save.

 
GST Reverse Charge on Advance Received from Customer against Sale in Tally.ERP9 (If Turnover is more than Rs.1.5 Crores) GST Using Tally.ERP9 GST Purchases in Tally.ERP9 - Nil Rated, Exempt, Purchases wtih GST and TDS , Works Contract Service


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