Capital Goods with GST TallyPrime
by Capital goods are assets that businesses purchase for long-term use, typically to facilitate production, expansion, or improvement of their operations. Under the GST framework, capital …
Tag: Taxation in tally Prime
Composite supply with GST
Composite supply is a unique concept under the Goods and Services Tax (GST) regime. It occurs when two or more goods or services are bundled …
GST Registration Process – TallyPrime
GST registration is mandatory for most businesses in India. It involves obtaining a unique Goods and Services Tax Identification Number (GSTIN) from the tax authorities. …
Manufactured Items with GST TallyPrime
Manufactured items are products created by assembling or processing raw materials or components. In the GST regime, businesses that engage in manufacturing or production activities …
Debit/Credit Note with GST – TallyPrime
Debit Note: Issued by a buyer to a seller, it represents an increase in the purchase value. Debit Notes are issued when the buyer has …
B2C Transactions in GST – TallyPrime
B2C transactions refer to transactions where businesses supply goods or services directly to end consumers. In the context of GST, these are transactions that involve …
URD Transactions in GST – TallyPrime
URD transactions refer to transactions where a registered business supplies goods or services to individuals or entities that are not registered for GST. These unregistered …
What is GSTR-1? GSTR1 Return Filing in TallyPrime
GST R1 Return is an important filing under the Goods and Services Tax (GST) system in India. If you are a business owner registered under …
GSTR2 Report in GST
GSTR-2, or the Goods and Services Tax Return-2, is a report that businesses in India need to file under the GST (Goods and Services Tax) …
Service Tax in GST TallyPrime
Service tax, previously governed by the Service Tax Act, was replaced by GST on July 1, 2017. Under GST, service tax is subsumed into the …