GST Tally ledgers required from 1july
GST Tally ledgers required from 1july. New ledgers will be required in Tally from 1st of july 2017.In current system following ledgers shall be there:
Input excise duty
CENVAT credit
Input Service tax
Output Service tax
Input VAT
Output VAT
New ledgers in GST:
Input (state) CGST
Input (state) SGST
Input (state) IGST
Output(state) CGST
output (state) SGST
Output(state) IGST
these will be the new ledgers required in GST. Also for the tax payable in reverse charge following ledgers shall be created
CGST payable(RC)
SGST payable(RC)
IGST payable(RC)
Adjustment of tax payable in reverse charge is available only from the cash ledger. Thus it is important to keep it separate from other payable.
