OBJECTIVE

Yes. You are close to Comprehensive. Congrats. This course is purely discussing the statutory and taxation procedure. It begins with Goods and Service Tax and explain the various aspects of TDS and conclude with Company year-end process. This course gives an option to take a direct certification from Tally solution

COURSE DURATION:

 1 MONTHS (36 HOURS)

COURSE OUTLINE

➤ Tally PRIME – Tally Essential – Level – 3

GOODS AND SERVICE TAX

Introduction to GST

• GST Registration
• GST Tax Structure
• Manage HSN/SAC CODE.
• Determination of Tax
• Supply of Goods and Services
• Invoicing
• Input Tax Credit

E-Way Bill

• Component. of E-Way Bill
• Who must generate E-Way Bill
• Validity of E-Way Bill
• E-Way Bill Process Flow

GST e-Invoicing

• Benefits of e-Invoicing the business
• Date of implementing GST e-invoicing
• Entities exempted for e-Invoices
• Generating E-Way bill with e-Invoice
• Modification of e-Invoice
• Role of e-invoice in GST Returns
• Various mode of generating e-invoice
• Role of IRP in e-Invoice
• The practice of Generating GST e-Invoice
• e-Invoice Details
• Invoice Reference Number (IRN)

GST in Tally Prime

• Creation of Company and Activating GST
• Introducing Capital into the Business
• Creation of Masters in Tally Prime.

Hierarchy of Calculating Tax in Transactions

• Defining GST Rates at Company Level, Stock Group Level, Stock Item Level, Accounting Group Level, Ledger level and Transaction Level.

Recording GST compliant transactions

• Intrastate Supply of Goods & Services
• Interstate Supply of Goods & Services
• Purchase and Sales Returns of Goods with GST
• Supplies Inclusive of Tax.

E-Way Bill Report in Tally

• Export for e-Way Bill Report
• Exporting Bulk or Consolidated c-Way Bill i n voices
• Update e-Way Bill Information

Input Tax Credit Set Off against Liability

• Adjusting Input Tax Credit against Tax Liability.

GST Tax Payment

• Timeline for payment t of GST tax
• Modes of Payment
• Challan Reconciliation

Generating GST Returns for Regular Dealer in Tally

• GSTR-1
• GSTR-3B
• GSTR-9 -GST Annual Computation.

Filing GST Returns in Tally

• Filing GSTR-1 Returns
• Filing GSTR-3B Returns
• Filing GSTR-9 -GST Annual Computation Returns.

Generating e-invoice in Tally Prime

• Recording Outward Supply and Generating e-invoice without c-\’\lay Bill
• Recording Outward Supply and Generating e- Invoice with e-Way Bill
• E-invoice Report.

Quarterly Return Monthly Payment Scheme

• Creation of Company and Activating GST in TallyPrime
• Accounting Intrastate Supply of Goods & Services
• Input Tax Credit Set Off against Liability and Tax Payment
• Invoice Furnishing Facility (IFF) in QRMP scheme.

Composition Dealer under GST Regime

• Introduction
• Conditions to be satisfied under the scheme
• Creation of Company and Activating GST in TallyPrime
• Accounting Intrastate and Interstate Supply of Goods
• Generating GST Returns for Composition Dealer in Tally
• GST Tax Payment.

TAX DEDUCTED AT SOURCE (TDS)

Introduction

• Introduction to TDS
• Basic Concepts of TDS
• TDS Process
• TDS in TallyPrime
• Activation of TDS in TallyPrime
• TDS Statutory Masters

Configuration of TDS at Different levels

• Configuration of TDS at Group level and Ledger level.

Recording TDS Compliant Transactions in TallyPrime

• Expenses Partly Subject to TDS
• Booking Expenses and ‘T’DS deduction on crossing Exemption Limit
• Accounting Multiple Expenses and Deducting TDS later
• TDS on Expenses at Lower and Zero Rate
• TDS on Expenses at Higher Rate
• Recording Transaction when TDS Exemption Limit is not crossed

TDS Exceptions

TDS Payment to Department

• Resolving Uncertain Transaction.
• TDS Outstanding
• Payment of Tax to the Income Tax Department
• Generating TDS Challan (ITNS 281)
• Interest Payment to Income Tax Department on Delayed Tax Payment

TDS Report

• Challan Reconciliation
• Form 26Q
• E-Return
• Changes in TDS rates from 1″ April 2021

Management of Business Data

• Exporting of data in available formats
• Export and Import of Data

Export and Import of Data

• Export and Import of Masters from one company to another in XML format
• Export and Import of Transactions from one company to another in XML format
• Exporting Reports to MS Excel
• Exporting Reports to PDF

Open Database Connectivity (ODBC)

Printing of Company Logo on Vouchers, Invoices & Reports.

Moving to the Next Financial Year

• Changing Current Period and continue voucher entry in the same company data
• Company data handling through Export and Import of data
• Split Company Data
• Create a new company and maintain books of accounts for the new financial year
• Creating Group Company Data
• Comparative Final Accounts Reports of Two Companies