Tally Prime & GST Accounting

• Creating Companies and configuring GSTIN in Tally Prime
• Voucher types: Purchase (F9), Sales (F8), Receipt (F6), Payment (F5), Contra (F4)
• Inventory management, stock items, units of measurement, and godowns

• Configuring CGST, SGST, IGST tax rates by HSN code
• Generating E-Way bills and JSON e-invoices directly from Tally
• GSTR-1 outward supply export and GSTR-3B monthly reconciliation with GSTR-2B

• Section 194C, 194J, 194I TDS calculations and challan payments
• Employee payroll vouchers, PF, and ESI deductions
• Auto Bank Reconciliation (BRS), Trial Balance, P&L, and Balance Sheet finalization

Q1: What is the difference between GSTR-1 and GSTR-3B?

GSTR-1 is a monthly/quarterly statement of outward supplies (sales) containing invoice-level details. GSTR-3B is a monthly summary return where the taxpayer declares summary tax liability, claims Input Tax Credit (ITC), and makes net tax payment.

Q2: What is Input Tax Credit (ITC) and when can it be claimed?

ITC is the GST paid on purchases of goods/services used for business purposes, which can be deducted from the output GST liability on sales, provided the vendor has uploaded the invoice and it appears in GSTR-2B.