Purchased Stationery With GST Invoice in Tally Prime

Purchased Stationery With GST Invoice

Tally Prime is a popular accounting software that is widely used by small and medium-sized businesses. With its user-friendly interface and comprehensive features, it has become a go-to tool for managing business operations. In this article, we will discuss how to record the purchase of stationery with a GST invoice in Tally Prime.

First, let's understand what GST is. GST stands for Goods and Services Tax, and it is a tax levied on the supply of goods and services. It is an indirect tax that is collected by businesses on behalf of the government. GST has replaced several indirect taxes such as excise duty, service tax, and VAT.

When you purchase stationery for your business, you need to record it in your accounting software. Here's how you can do it in Tally Prime:

1. Create a Purchase Voucher

The first step is to create a purchase voucher in Tally Prime. Go to the Gateway of Tally and select Vouchers > Purchase > F9: Purchase. In the purchase voucher, you need to enter the following details:

• Supplier's Name: Enter the name of the supplier from whom you purchased the stationery.
• Date: Enter the date of the purchase.
• Purchase Ledger: Select the purchase ledger under which you want to record the transaction. You can create a new ledger if you don't have one.
• Party's GSTIN: Enter the GSTIN of the supplier. If the supplier is not registered under GST, you can leave this field blank.
• Item Details: Enter the details of the stationery that you purchased. You need to enter the name of the item, quantity, rate, and amount.

2. Record GST

In the purchase voucher, you also need to record the GST. Tally Prime automatically calculates the GST based on the rate and amount that you entered in the item details. You need to select the appropriate GST rate for the stationery that you purchased. The GST rates for stationery are as follows:

• 12% for paper and paper products
• 18% for pens, pencils, erasers, and sharpeners
• 28% for markers, highlighters, and other writing instruments

3. Generate GST Invoice

Once you have entered all the details in the purchase voucher, you can generate a GST invoice. To generate a GST invoice, go to the Gateway of Tally and select Display > Statutory Reports > GST > GSTR-1. In the GSTR-1 report, select the period for which you want to generate the invoice. Tally Prime will generate the GST invoice based on the information that you entered in the purchase voucher.

In conclusion, recording the purchase of stationery with a GST invoice in Tally Prime is a simple process. By following the steps mentioned above, you can ensure that your accounting records are accurate and up-to-date. Tally Prime makes it easy to manage your business operations, and with its comprehensive features, you can focus on growing your business.