Author: Rishit Shah
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High Sea Purchases in TallyPrime: 5 Steps + Example
High Sea Purchase refers to a transaction where goods are sold while they are still on the high seas, i.e., before they have crossed Indian customs boundaries. This type of purchase is common in international trade. In TallyPrime, you can easily record high sea purchases and manage them for GST and inventory purposes. Let’s understand…
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Reversal of ITC on Manufacturing Exempt Supplies in TallyPrime
Under GST, if you manufacture exempt supplies, you are not allowed to claim full Input Tax Credit (ITC) on the inputs and input services used for manufacturing. Instead, you must reverse the proportionate ITC related to exempt supplies. TallyPrime allows you to manage this reversal efficiently and ensures your GST returns reflect accurate values. Let’s…
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ITC on Purchase of Capital Goods in TallyPrime: 5 Easy Steps
When a business purchases capital goods, like machinery or equipment, it can claim Input Tax Credit (ITC) on the GST paid for those purchases. This helps reduce the GST liability on outward supplies. TallyPrime makes it easy to record the purchase of capital goods and avail the ITC, while also ensuring accurate GST return reporting.…
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GST on Inward Remittance of Service Value in TallyPrime: 4 Steps
When an Indian business receives services from a supplier located outside India, it is treated as an import of services under GST. Even though no physical goods are coming in, the business must pay GST under Reverse Charge Mechanism (RCM). In TallyPrime, you can easily record such inward remittances for services and ensure the correct…
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Add Remarks on Invoices in IMS Inward Supplies in TallyPrime
TallyPrime’s IMS (Invoice Matching Status) feature helps businesses match purchase invoices with the GST portal. While reviewing inward supply invoices, you may want to add remarks for clarification, audit purposes, or internal communication. TallyPrime allows you to add remarks directly on the invoices in the IMS Inward Supplies section. This makes it easier to keep…
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Exclude Invoices from GSTR-3B in TallyPrime: 3 Steps + Example
Sometimes, you may record a GST invoice in TallyPrime but don’t want it to appear in GSTR-3B for a particular return period. This can happen due to errors, timing differences, or GST adjustments. TallyPrime gives you the flexibility to exclude such invoices from GSTR-3B, while still keeping them in your books. In this blog post,…
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Change GSTR Effective Date in TallyPrime: 3 Steps + Example
TallyPrime helps businesses stay GST-compliant by allowing them to record and manage GSTR Effective Dates. Sometimes, a voucher’s actual transaction date and its return filing date (GSTR Effective Date) may be different. In such cases, TallyPrime allows you to change the GSTR Effective Date easily. In this post, you’ll learn how to do that, why…
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Accept, Reject, Keep ITC Pending: IMS Action Status in TallyPrime
When you receive purchase invoices from your suppliers, TallyPrime helps you reconcile these with the GST portal using IMS (Invoice Matching System). But that’s not all—you can also accept, reject, or keep the invoice ITC as pending by setting the IMS Action Status. This feature helps you manage your Input Tax Credit (ITC) with complete…
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View IMS Inward Invoices in TallyPrime: 4 Steps + Example
TallyPrime helps you stay GST-compliant by allowing you to view IMS (Invoice Matching System) inward invoices. These are purchase invoices downloaded from the GST portal that your suppliers have uploaded. By viewing these invoices in TallyPrime, you can match them with your books, accept them if they match, or raise actions if they don’t. Let’s…
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Upload IMS Inward Invoices in TallyPrime: 4 Steps + Example
TallyPrime makes GST compliance easier by allowing you to upload IMS Inward Invoices. This helps keep your purchase records in sync with the GST portal, especially if you’ve received invoices from suppliers but want to push them to the GST system for matching and return filing purposes. This post will guide you through what IMS…