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Choice of GST Preference in Tally

Company LevelSettings can be done in company level where single tax rate and HSN code for all products
Ledger Levelwhere few items with single tax rates are for all products
Stock Group LevelWhere stock groups are structured based on HSN across Purchase and Sales
Stock Item LevelWhere multiple tax rate with multiple HSN codes are used

GST Tax Ledger Structure

Create Ledger GST Payable (under Duties and Taxes)

  1. Input GST (Group)
    • Input IGST @ %
    • Input CGST @ %
    • Input SGST @ %
  2. Output GST (Group)
    • Output IGST @ %
    • Output CGST @ %
    • Output SGST @ %
  3. GST Electronic Ledger
    • SGST Electronic Ledger
    • CGST Electronic Ledger
    • IGST Electronic Ledger
    • Interest GST Electronic Ledger
    • Late Fee GST Electronic Ledger
    • Penalty GST Electronic Ledger

Revenue Ledger Structure

Tax BasedProduct Based
– Sales  IGST
– Sales Local GST
– Purchase IGST
– Purchase Local GST
– Sales Product A
– Sales Product B
– Purchase Product A
– Purchase Product B
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