SEZ’s Purchase of Goods from a Regular Company in TallyPrime

In TallyPrime, recording the purchase of goods from a regular company as an SEZ business is essential to track tax compliance, input credits, and accounting accuracy.

Although the supplier is liable for the tax, you must document the purchase properly under GST rules.

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1. Steps to Record Purchases from a Regular Company as a SEZ Unit in TallyPrime

1. Configure GST in TallyPrime

1. Navigate to Gateway of Tally > F11: Features > Statutory & Taxation.
2. Enable Goods and Services Tax (GST).
3. Enter the SEZ unit’s GSTIN under the company details.
4. Set the Registration Type as SEZ.
5. Save the configuration.

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2. Create Ledgers

a. Party Ledger (Regular Company)

1. Go to Accounts Info > Ledgers > Create.
2. Name: XYZ Enterprises (Supplier).
3. Group: Sundry Creditors.
4. Enable GST: Yes.
5. Enter GSTIN of the supplier.
6. Registration Type: Regular.
7. Save the ledger.

b. Purchase Ledger

1. Go to Accounts Info > Ledgers > Create.
2. Name: Purchase – Local Taxable.
3. Group: Purchase Accounts.
4. Enable GST: Yes.
5. Set the Nature of Transaction: Purchases – Taxable.
6. Specify the applicable GST rate (e.g., 18%).

c. Tax Ledgers

1. Create tax ledgers for CGST, SGST, and/or IGST, depending on the transaction’s nature:
   • Inter-State Supply: IGST ledger.
   • Intra-State Supply: CGST and SGST ledgers.

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3. Record the Purchase Invoice

1. Navigate to Gateway of Tally > Vouchers > F9: Purchase.
2. Select the XYZ Enterprises ledger.
3. Enter the purchase details:
   • Stock Item: Select the item being purchased.
   • Quantity: Enter the quantity.
   • Rate: Specify the rate per unit.
   • Amount: Automatically calculated.
4. Apply GST:
   • For intra-state: Add CGST and SGST ledgers.
   • For inter-state: Add the IGST ledger.
5. Save the voucher.

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2. Example of Recording Purchases from a Regular Company as a SEZ Unit in TallyPrime

1. Scenario

Your SEZ business purchases 100 units of raw material at ₹1,000 per unit from XYZ Enterprises, a regular company.

The transaction is intra-state, and the GST rate is 18% (CGST: 9%, SGST: 9%).

2. Steps

1. Create Party Ledger:
   • Name: XYZ Enterprises.
   • GSTIN: Enter supplier’s GSTIN.
   • Registration Type: Regular.
2. Create Purchase Ledger:
   • Name: Purchase – Local Taxable.
   • GST Nature: Purchases – Taxable.
   • GST Rate: 18%.
3. Tax Ledgers:
   • CGST: 9%.
   • SGST: 9%.
4. Record Invoice:
   • Item: Raw Material.
   • Quantity: 100 units.
   • Rate: ₹1,000.
   • Total: ₹1,00,000.
   • Add GST:
     • CGST: ₹9,000.
     • SGST: ₹9,000.
   • Grand Total: ₹1,18,000.

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3. Benefits of Recording Purchases from a Regular Company as a SEZ Unit in TallyPrime

1. GST Compliance: Ensures proper documentation of GST on purchases.
2. Input Tax Credit: Enables claiming GST paid as input credit.
3. Accurate Reporting: Simplifies reconciliation during GST returns filing.

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4. Conclusion

Recording purchases from a regular company in TallyPrime as an SEZ business helps streamline GST compliance and maintain proper records for input credit claims.

By following these steps, you can accurately account for purchases and stay compliant with GST regulations.