How to enter GST sales with nil rates,exempt,sez,deemed export, and consumer sales

Once you activate GST in your company, you can record a variety of sales transactions such as nil-rated, exempt sales, SEZ sales, deemed export, and so on using a sales voucher.

Nil-rated sales

Exempt sales

SEZ sales

Deemed export

Sales to consumer

How to enter Nil-rated GST Sales

The sales of nil-rated goods to a local or interstate customer does not attract GST, and can be recorded using a sales voucher. For goods or services classified as nil rated (0%), the option Nil Rated has to be selected as the Taxability in the GST Details screen of the item or group master.

Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

     Select the applicable Sales ledger. For example, Sales Nil-Rated.

gst sales nil rated

Depending on the location of the party, you can record a local or interstate nil-rated sales transaction.

How to enter Exempt GST Sales

The local or interstate sale of goods exempted from GST can be recorded using a sales voucher. For goods or services that are exempted from tax under GST, the option Exempt has to be selected as Taxability in the GST Details screen of the item or group master.

 Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

How to enter GST SEZ Sales

The sale of goods and services to a party in an SEZ can be recorded using a sales vouchers. In an SEZ sales transaction, taxes are applicable based on the type of sale:

  • Taxable SEZ sale: In SEZ sales, integrated tax is applicable for both local and interstate parties.
  • Exempt SEZ sale: No tax is applicable.
  • SEZ sale under LUT/bond: No tax is applicable. SEZ sales under LUT/bond are allowed when you have signed up a letter of undertaking with the department for the sale of goods without the payment of duty.
  Status Reconciliation (GSTR-1)

To provide details of the LUT/bond, enable the options Enable Goods and Services Tax (GST)? and Set/alter GST details? in Statutory and Taxationfeatures. In the Company GST Details screen, enable the option Provide LUT/Bond details?, and enter the details in the LUT/Bond Details screen.

To record SEZ sales

     Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

     Select the applicable Sales ledger. For example, Sales – SEZ.

Provide GST details: Enable this option if you want to enter additional details regarding the export transaction.

How to enter GST Deemed Export sale

Deemed exports are defined as transactions in which the supply and manufacture of goods takes place within India. Essentially, deemed exports refer to the supply of goods to end-exporters.

For example, if a two-wheeler spare parts manufacturer supplies rear-view mirrors to a motorcycle manufacturer and exporter, then the sale of the rear-view mirrors would be considered as deemed exports.

The deemed export of goods and services can be recorded using a sales vouchers.

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Taxes are applicable based on the type of deemed export:

     Taxable deemed export: In SEZ sales, integrated tax is applicable for both local and interstate parties.

     Exempt deemed export: No tax is applicable.

To record deemed export

     Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

     Select the required Sales ledger. For example, Sales – Deemed Export

gst_sale_deemed_expot

Sales to consumers – Taxable and Exempt

You can record sales to consumers (end users of your goods or services) and unregistered dealers, using a sales invoice.

Depending on the transaction value and the location of the party, the sales invoice will be captured in different tables in GSTR-1 returns.

     B2C (Large) Invoices: Captures interstate sales transactions where the invoice value is more than Rs. 2.5 lakh.

The following images show how large invoices are captured in GSTR-1 for an interstate party:

     B2C (Small) Invoices: In GSTR-1, this table captures:

o     Local sales transaction: Irrespective of the invoice value.

o     Interstate sales transactions: where the total invoice value is less than Rs. 2.5 lakh.

The following images show how small invoices are captured in GSTR-1:

How to enter GST sales with nil rates,exempt,sez,deemed export, and consumer sales
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