Author: Tally Academy

Minimize Mismatches between GSTR-2A and GSTR-3B using Tally.ERP 9

Posted on by Tally Academy

Mismatches-between-your-GSTR-2A-and-GSTR-3B

Mismatch in Input Tax Credit arising due to any difference in values between inwards supply details (furnished by businesses in their GSTR-3B) and outwards supply details uploaded by respective suppliers (available on GST portal as GSTR-2A) may lead to loss in the claimed Input Tax Credit (ITC).

Let’s look at how GSTR-3B and GSTR-2A mismatch can happen

Typically, you would have declared the consolidated value of your inward supplies in your monthly GSTR-3B returns. Your suppliers would have uploaded their sales invoices in GSTR-1, based on which your inward supplies get auto populated in GSTR-2A.

Now in case there are any discrepancies in the values of inward supplies available in GSTR-2A and inward supplies declared by you for the month in your GSTR-3B, it may lead to loss of Input Tax Credit.

Now let us understand the probable reasons for such mismatches.

Possible reasons for mismatches

  1. Your supplier has not uploaded the invoices for which you have already claimed Input Tax Credit.
  2. Values in the supplier’s invoices are not matching with values available in your books.
  3. You might have missed out recording any Purchases or Debit Notes (Purchase Returns) which resulted in reduced Input Tax Credit.

How to identify GSTR-3B and GSTR-2A mismatch

  1. Firstly, you must compare the purchases available in your books with GSTR-2A (available on GST Portal) of the respective returns period.
  2. You can manually match each purchase invoice and identify the differences or identify invoices that are not available on the GST portal or in your books.
  3. If you identify invoices whose values are either not matching or invoices are not available, connect with the respective supplier and ask him to either upload the related invoice in his latest return which is yet to be filed, or amend the invoice details at the time of filing his returns.
  4. Alternately, you can check the physical copies of respective purchase invoices and correct your purchase data, and accordingly make corrections in your latest GST returns which are yet to be filed by reversing the Input Tax Credit.

How Tally.ERP 9 eases your efforts

  1. Download GSTR-2A of the corresponding period
  2. Open Tally.ERP 9. Go to GSTR-2 Report. Load GSTR-2A into Tally.ERP 9. Within seconds, Tally.ERP 9 will show you the details of invoices which are either –
    1. Fully Matched
    2. Partially Matched: This may be due to partial match between invoices available in the books with invoices available on the GST portal.
    3. Available only in Books: This can happen if your supplier has not uploaded some invoices.
    4. Available only in Portal: This can happen if you have not recorded the transaction in your books but your supplier has uploaded the same.
  3. You can take action on the invoices which are mismatched, available only in books and available only in portal by checking with your suppliers or correcting/recording respective purchase invoices in your books.

You can download and compare GSTR-2A of previous periods with your books for all the GST returns filed for the previous periods to ensure that you have claimed the right Input Tax Credit and identify mismatch of GSTR-2A with GSTR-3B. Also, going forward, you can follow this activity for the returns of all upcoming months to reduce chances of mismatches.

Tally. ERP 9 Release 6.2 and higher versions allow you to import and match GSTR-2A. Download the latest release of Tally.ERP 9 and ensure that you get the right Input Tax Credit.

Update your Tally.ERP 9 to Release 6.3 for latest enhancements

Posted on by Tally Academy

Dear Customer,
The due date for filing GSTR-3B for every month is on the 20 th of the subsequent month. For November 2017, the due date is 20 th December 2017.

Enhancements in Tally.ERP 9 Release 6.3.

Export GSTR-3B in JSON format

  • You can now directly export GSTR-3B form in JSON format from Release 6.3 and upload it to the GST portal.
  • If you prefer to view the GSTR-3B in MS Excel before uploading, you can do so as well. Download the GSTR-3B Offline Utility from the GST portal. Tally.ERP 9 exports details of the transactions into the GSTR-3B MS Excel form. Click on Validate button in the form. Upon successful validation, you can generate the form in JSON and upload it to the portal.

Print invoices with item-wise and rate-wise breakups

  • Make your customers happier by printing invoices with complete item-wise and rate-wise tax breakup details. You can see tax details (CGST, IGST, SGST, Cess) individually for each line item. Press F12 > Enable Print Item-wise GST details . Tally.ERP 9 automatically changes the print setting to Landscape .

Generate quarterly GSTR-1 returns

  • As per the announcements made in the 23rd GST Council Meeting, regular dealers with turnover less than 1.5 Cr have to file GSTR-1 on a quarterly basis. As soon as this feature is enabled in the GST portal, you can generate your quarterly GSTR-1 return from Tally.ERP 9 Release 6.3 as well.
  • In Gateway of Tally , click F11 > F3 > Statutory details . Choose: Set/Alter GST details . A new option, Periodicity of GSTR-1 is available. Select Quarterly here.

Inclusion of Interest and Late Fees payable

  • Tally.ERP 9 Release 6.3 has enhanced GSTR-3B with a new inclusion of Table 5.1  Interest and Late Fees Payable . You can record details of any interest or late fees that you might have to pay here and keep your books updated.

Click here for release notes

Click here for download

Tally.ERP 9 Series A Release 6.0.2, July, 2017

Posted on by Tally Academy

Highlights

Printing HSN/SAC code on the invoice

Some customers faced issues while printing the HSN/SAC on their invoices. We have solved this problem.

Customers can define HSN/SAC at any level as needed and Tally.ERP 9 will take care of printing the HSN/SAC code on the invoices.

See this help topic or watch this video to understand how the codes and rates are processed by Tally.ERP 9. This will also help you make use of the powerful flexibility offered in setting rates at different levels.

Viewing existing data in the previous release after upgrade

Some customers want to view their data in their old release of Tally.ERP 9 after upgrading to Release 6.

With this upgrade, Tally.ERP 9 Release 6.0.2 will be installed in a new folder. Restore backed up data in a different folder, and open the company in the previous release of Tally.ERP 9. The Tally.ERP 9 license will work for both releases seamlessly.

Note: Always remember to restore your backed up data in a different folder to prevent overwriting the upgraded data.

VAT – Jammu and Kashmir

Exporting VAT Annexure 49 to MS Excel was taking an extremely long time.

This has been addressed. You will find that exporting is much quicker now.

GST

●     You can set up GST rates for a particular price range/slab for multiple stock items from GST Rate Setup screen.

●     The company’s GSTIN/UIN was not displayed in the invoice printout when the secondary address of the company was selected for printing. This issue is resolved.

●     If you enabled the option Print company logo? in the Receipt Printing Configuration screen, the company’s GSTIN/UIN was not displayed in the printed advance receipt. This issue is resolved.

●     In the GST sales invoice printout, the state codes of consignor and consignee were printed incorrectly in neat mode when:

o     Multiple addresses were enabled for the party.

o     The option Allow separate buyer and consignee names? was enabled in the Voucher Configuration screen.

This issue is resolved.

●     The address details in the Buyer section of the invoice printout was shrinking when the options Print State Name & State Code? and Print Place of Supply? were set to Yes in the Invoice Print Configuration screen. This issue is resolved.

●     The HSN/SAC was not displayed in the printed invoice when it was recorded with:

o     Stock items predefined with HSN/SAC.

o     Sales/purchase ledgers predefined only with tax rate and not the HSN/SAC.

This issue is resolved. Now, if the HSN/SAC is not defined in the sales/purchase ledger, but is available in any of the masters linked to the transaction, the same will be printed in the invoice.

●     When the sales invoice or delivery note was printed from voucher display mode, the Place of Supply was not displayed. This occurred even when the option Print Place of Supply? was set to Yes in the Invoice Print Configuration screen. This issue is resolved.

VAT

Jammu and Kashmir

●     The data export to MS Excel templates is enhanced as given below:

o     Values are exported invoice-wise in a single row, with values of each tax rate displayed in respective columns. When there is more than one tax rate belonging to the Other % column of the template, the column will be left blank. The values of both tax rates will be consolidated and displayed in Amount (Other %) column. This is provided in Annexure 48, 48C, 48I, 48IS, 48L, 48S, 49, 49I, and 49S.

o     The Commodity name predefined for the stock item with the highest value in the invoice is captured in the Nature of Goods column of Annexure 48IS, 48L, 48S and 49S.

●     Exporting data to the MS Excel template of Annexure 49 was taking too long. This issue is resolved.

Rajasthan

●     Data export to the latest template of Form 10 is supported for filing e-returns. The details of VAT/CST payment vouchers are captured from row 33 instead of row 27 of the Details of Tax Due sheet of the template VATForm10_2015.xls.

TDS/TCS

●     The latest File Validation Utility (FVU) tool version 5.5 is supported to validate the forms for E-TDS/TCS before filing returns.

The following changes are supported as per the latest FVU tool version 5.5:

o     The nature of payment Payment of Cash Consideration by Real Estate Developer to Property Owner has been renamed as Payment Under Specified Agreement with the Payment code of 41C.

o     As per the changes in section code 206CC, in the party ledger, when PAN/IT No. is defined as PANAPPLIED or PANINVALID or PANNOTAVBL for sales made with the nature of goods Timber Obtained by Any Mode Other Than Forest Lease, the transaction will be marked as C in the data exported to the text file for filing e-returns.

Licensing

●     Tally.ERP 9 Release 6 moved to educational mode without any notification when there were incompatible Account TDLs or Addons. Tally.ERP 9 Release 6.0.2 does not move to educational mode, and allows you continue to use Tally.ERP 9.

However, you need to contact your Tally Partner to make your customisations compatible with Release 6 or later.

Data Management

●     The installation path of Tally.ERP 9 has been changed to C:\Program Files\Tally\Tally.ERP9 to avoid overriding of installation of releases prior to 6.0.2.

●     When the data backup failed, the messages displayed were incomplete as the next course of action was not mentioned in them. The issue is resolved.

Now, the error messages display the corrective course of action such that you can resolve the problem yourself.

Click here for release notes

Click here for download

Managing HSN Codes/SAC and Tax Rates in Tally

Posted on by Tally Academy

You can specify HSN code/SAC details and tax rates at different levels for the goods or services provided by your business. This is a flexibility provided for ease of use to accommodate your business needs.

It is recommended to specify the HSN code/SAC and tax rate at the same level.

Order in which HSN code and tax rate are applied for goods

Specifying HSN code and tax rate

Based on your business requirements, you can provide HSN codes and tax rates at different levels.

Business Requirement

Definition At

Most of the goods have the same HSN code and tax rate

Company

A group of items have the same HSN code and tax rate

Stock group

A few items have different HSN codes and tax rates

Stock item

Want to apply the same HSN code and tax rate for different transaction types

Sales/purchase ledger group

Want to segregate sales or purchase of items with the same HSN code and tax rate

Sales/purchase ledger

Change the tax rate (not HSN code) during transaction

Transaction

After defining a tax rate at the company level, if a group of items attracts another rate, specify at the stock group level. For the items in the group, the rate specified at the group level is applicable. After specifying tax rates at the stock group level, if a few items in the group attract a different rate (or the rate set at the company level), override using rate setup at the stock item level. For the items, the rates specified at the stock item level are applicable.

You can specify tax rates at the sales or purchase ledger level, or at the ledger group level. This helps in situations where a special tracking as per the nature of tax is required. For example, you can use a ledger called Diplomat-Sale for exempt sales of taxable goods when the buyer is a diplomat. Then the rate defined at the ledger level will override the tax rates set at the company, stock group, or stock item levels.

Note: For ease of maintenance and appropriate use of tax rates, specify the rates at the level where you mark the goods as taxable.

A similar order is applicable in the case of HSN codes.

In case you need to specify a separate tax rate for an item in a specific transaction, you can do so, and the rate specified during the transaction will get the highest priority.

Order in which SAC and tax rate are applied for services

Specifying SAC and tax rate

Based on your business requirements, you can provide SAC and tax rate at different levels.

Business Requirement

Tax Rate Definition At

Most of the services have the same SAC and tax rate

Company

A group of services have the same SAC and tax rate

Service ledger

Want to apply the same SAC and tax rate for different transaction types

Sales/purchase ledger group

Want to segregate sales or purchase of services with the same SAC and tax rate

Sales/purchase ledger

Change the tax rate (not SAC) during transaction

Transaction

After defining a tax rate at the company level, if a few services attract a different rate, specify the rate in the service ledger. For the services, the rates specified at the service ledger level are applicable.

You can specify tax rates at the sales or purchase ledger level, or at the ledger group level. This helps in situations where a special tracking as per the nature of tax is required. For example, you can use a ledger called Diplomat-Sale for exempt sales of taxable services when the buyer is a diplomat. Then the rate defined at the ledger level will override the tax rates set at the company level or at the service ledger level.

Note: For ease of maintenance and appropriate use of tax rates, specify the rates at the level where you mark the service as taxable.

A similar order is applicable in the case of SAC.

In case you need to specify a separate tax rate for a service in a specific transaction, you can do so, and the rate given during the transaction will get the highest priority.