Do you have multiple GST registrations and find it hard to manage your accounts? Don’t worry! With the latest update of TallyPrime, managing transactions and returns for multiple GSTINs in the same company is easy. You can manage multi GST in TallyPrime for a specific period and handle things like TDS returns, salary payments, and managing dues more smoothly.
TallyPrime Help Businesses Manage Multiple GST
Let’s read about how handle multi GST in Tally;
Easily Generate GST Returns for Each GSTIN
With TallyPrime, managing GST returns for multiple GSTINs in a single company has never been easier. You can:
- Generate accurate GST returns for each GSTIN based on transactions.
- View or export GSTR returns for single or multiple GSTINs, depending on your preference.
- Export JSON files for GSTR returns with single or multiple GSTINs—all in one go!
TallyPrime makes it simple, efficient, and hassle-free to handle multi-GSTIN requirements in one place.
Create and Manage Multiple GST Registrations
TallyPrime makes it easy to manage multiple GST registrations. For example, if your business has branches in three states with separate GSTINs, you can create and manage all these registrations in one company. You can also mark each GST registration as ‘Active’ or ‘Inactive.’ This helps you handle situations like temporary suspension or cancellation of GST registrations quickly and easily.
Categorize Transactions by GSTIN
With manage multi GST in TallyPrime, handling transactions for multiple GSTINs is simple. You can easily organize and record transactions for each GSTIN with the right rules applied automatically.
For example, if your business has three GSTINs—Delhi, Karnataka, and Kerala—you can record transactions for each one separately. TallyPrime will automatically include the details in the correct GST returns and reports. You can also choose to create separate voucher types for each GSTIN or use the same voucher type for all.
Tag Vouchers to GSTINs
TallyPrime lets you link voucher types, like sales invoices or purchase orders, to specific GSTINs. This makes recording transactions faster and more accurate. Once tagged, all transactions of that type will automatically be assigned to the right GSTIN, saving time and reducing errors.
If you’re looking for accounting courses after graduation, learning tools like TallyPrime can be an excellent way to enhance your skills in managing GST-related transactions efficiently.
Create Voucher Series
TallyPrime makes it easy to create separate voucher series for different tax units, like branches or divisions. This helps you avoid mixing up vouchers. Each series can have its own numbering system, so it’s simpler to track and manage transactions.
View Combined Returns and Reports
With manage multi GST in TallyPrime, you can view all GST returns and reports in one place. This gives you a clear picture of your GST compliance without jumping between screens. You can easily compare data, find errors, and look into details whenever needed.
Track GST Return Activities
With the new TallyPrime, you can track GST returns much faster. The GST return report opens instantly, no matter how much data you have, saving you time on compliance tasks. It also includes features like tracking amendments and setting transaction dates.
You can also see transactions that were changed after reconciliation or signing. GSTR-2B reconciliation helps you claim the right Input Tax Credit in GSTR-3B and keeps your books in line with the auto-drafted GSTR-3B on the portal.
TallyPrime is a great upgrade with features that make GST compliance easier for businesses with multiple GSTINs. This helps businesses with operations in different states or across various areas to easily manage and track their GST compliance for each GSTIN. To understand this properly, joining a Tally course online is the best option.
Setting Up Multi-GST in TallyPrime
Let’s read about step by step processes on managing multiple GST in TallyPrime;
Step 1: Add Multiple GSTINs
Start by adding the GST numbers you use for your business. TallyPrime makes it easy to manage all your GSTINs.
Step 2: Organize Data by GSTIN
Next, separate your data and link it to the correct GSTIN. TallyPrime automatically keeps track of ledgers, stock items, and other details for each GSTIN.
Step 3: Enter Transactions
When adding transactions, make sure they are linked to the right GSTIN. Check everything to avoid mistakes.
Step 4: Generate GST Reports
TallyPrime helps you create GST returns for each GSTIN. It collects your transaction details, calculates GST taxes, and prepares the return forms for you.
Step 5: GST Reconciliation
TallyPrime helps you claim the correct tax credits. It compares your purchase records with the “GSTR-2A” document (from the government) to avoid errors.
TallyPrime’s Multi-GST feature helps businesses save time and money by making the process easier. It manages all the finances and tax calculations, reducing mistakes and ensuring everything is filed on time. With the manage multi GST in TallyPrime, businesses can have better control of their finances and focus on growing other areas of their business.
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