Managing Multiple GSTINs in a Single Tally Company

Introduction

Tally. ERP 9, a popular accounting software in India, allows businesses to manage multiple Goods and Services Tax Identification Numbers (GSTINs) within a single company account. This feature is particularly beneficial for businesses operating in multiple states, as GST requires state-wise registration. Here’s a step-by-step guide on how to handle multiple GSTINs in a single Tally company.

Setting Up Multiple GSTINs

1. Create a Company in Tally
2. Start by creating a new company in Tally. ERP 9. Enter all the required details such as company name, address, and financial year. Ensure the ‘Enable GST’ option is set to ‘Yes’ in the taxation details.
3. Enable GST for the Company
4. In the company creation screen, navigate to the ‘Statutory & Taxation’ section. Enable GST by setting ‘Enable Goods and Services Tax (GST)’ to ‘Yes’. Enter the GST details such as the GSTIN, State, and type of registration.
5. Add Multiple GSTINs
6. After enabling GST, you need to add multiple GSTINs. Go to Gateway of Tally > F11: Features > F3: Statutory & Taxation. Here, you will find the option to manage multiple GSTINs. Set ‘Enable Multiple GSTINs for the Company’ to ‘Yes’.

Assigning GSTINs to Ledgers

1. Create Ledgers for GSTINs
2. Create ledgers for different GSTINs. Go to Gateway of Tally > Accounts Info > Ledgers > Create. Enter the ledger name and in the GST Details section, assign the respective GSTIN to the ledger. Repeat this process for each GSTIN.
3. Categorize Transactions
4. When recording transactions, it’s essential to categorize them based on the GSTIN they pertain to. While entering vouchers, select the appropriate GSTIN ledger to ensure accurate tax calculation and reporting.

Recording Transactions

1. Sales and Purchases
2. For sales and purchase transactions, select the ledger corresponding to the relevant GSTIN. Ensure that the GST details are correctly entered, including the taxable amount, GST rate, and GST amount. Tally will automatically compute the GST based on the selected GSTIN.
3. Inter-State Transactions
4. For businesses operating in multiple states, inter-state transactions must be handled carefully. When recording such transactions, select the appropriate GSTIN and ensure that IGST is applied correctly.

Generating GST Reports

1. GST Summary Report
2. Tally. ERP 9 allows you to generate GST summary reports for each GSTIN. Go to Display > Statutory Reports > GST Reports > GSTR-1/GSTR-3B. Select the GSTIN for which you want to generate the report. This will provide a detailed summary of all transactions related to that GSTIN.
3. Reconciliation
4. Regularly reconcile your GST reports to ensure accuracy. Check for any discrepancies between the recorded transactions and the GST returns filed. Tally’s reconciliation feature helps in matching your books with the GST portal data.

Conclusion

Managing multiple GSTINs in a single Tally company can streamline your accounting process, especially for businesses operating in multiple states. By following the steps outlined above, you can ensure accurate GST compliance and efficient financial management. Tally. ERP 9’s robust features make it a powerful tool for handling multi-GSTIN scenarios with ease.