In normal course business we sells goods and service as a combination or bundle.Such as combination of goods or combination of services or combination of both goods and services as part of the primary goods. For example A Insurance policy is selling along with a Two wheeler. Here primary or predominant  part of sale […]

You can create party ledgers with whom you purchase and sell goods and services, with the GST registration details. From Release 6.3.2, you can set GST rates in the ledger grouped under non-revenue accounts, for example, Current Assets and Current Liabilities . If you have created the party ledgers under groups other than Sundry debtors, Sundry creditors, Bank, Cash, […]

Composition scheme is the tax payment scheme introduced by GST council in order to reduce the tax burden of small business owners with the annual turnover of less than 1 (one) crore. ( In north  eastern states and Himachal pradesh limit is less; it is 75 lakhs) By implementing composition scheme government  expect minimal evasion […]

Every registered tax payer under GST regime selling taxable goods shall file GSTR-1 return through GST Portal. All the details of outward supply of goods shall be furnished through the GSTR-1 return.The businesses having turnover up to 1.5 crore can opt for a quarterly GSTR-1 return and business with more than one crore shall be […]

The e-Sugam feature under GST is provided for Karnataka. When you obtain the e-Sugam number for a transaction, you can enter it in the invoice or in the e-Sugam report. The e-Sugamnumber can also be printed in the invoice. Recording a sales invoice with e-sugam number 1.    Go to Gateway of Tally > Accounting Vouchers > F8: Sales. 2.    In Party A/c name, select the customer […]