ASSIGNMENT
- Company purchase the following materials from Silver Plus Companies (State : Andhra Pradesh) with GST @ 5% on May – 01 – 2021 and reference number : spc/100
S.NO | ITEM NAME | QUANTITY | RATE | HSN CODE |
---|---|---|---|---|
1 | Bricks | 30,000 No.s | Rs. 3.00 per No | 69010010 |
2 | Natural Sand | 20,000 Tons | Rs. 140 per Cu. Ft | 250590 |
TOTAL PURCHASE VALUE |
NOTE :
- The entire Material is Purchased for Projects works – Apartment and Villa
- Distribute the half of material for Project Apartment and Half of Material for Project Villa
- Silver Plus Companies given 30 credit days
- Company Purchased the following materials from Ramu Materials (State: Andhra Pradesh) with GST @ 5% on May – 02 – 2021
S.NO | ITEM NAME | QUANTITY | RATE | HSN CODE |
---|---|---|---|---|
1 | Cement | 4,000 Bags | Rs. 500 Per Bag | 252390 |
2 | PlyWood | 1,500 Sq Ft | Rs. 50 Per Sq Ft | 441213 |
NOTE:
- The total material is purchased for Project works – Apartment and Villa
- Share the 75% of Material for Project – Apartment and remaining 25% for Project Villa
- Ramu Materials given 40 Days credit days
SOLUTION
Activating the Features
- Press F11 for Company Features
- Accounting:
- Maintain Accounts : Yes
- Enable Bill-wise entry : Yes
- Enable Cost Centers : Yes
- Inventory:
- Maintain Inventory : Yes
- Integrated Accounts with Inventory : Yes
- Taxation:
- Enable Goods And Service Tax : Yes
- Press CTRL + A to accept the total screen
Creating Ledgers
- Gateway of Tally
- Masters
- Create
- Ledgers
- Create
- Masters
- Name : Silver Plus Materials
Under : Sundry Creditors
Maintain Balances Bill By Bill : Yes
Press Enter
Select “State “Andhra pradesh” from the list , Press enter
Accept _ Yes - Name : Ramu Materials
Under : Sundry Debtors
Maintain Balances Bill By Bill : Yes
Press Enter
Select State “Andhra Pradesh” from the list, Press enter
Accept_ Yes - Name : Purchase A/c
Under : Purchase Accounts
Inventory Values Are Affected : Yes
Cost Centers Are Applicable : Yes
Is GST Applicable : Yes
Nature of Transaction : Purchase Taxable
Integrated Tax : 5%
Central Tax : 2.5%
State Tax : 2.5%
Press Enter
Type of Supply : Goods
Press Enter
Accept _ Yes - Name : Sales A/c
Under : Sales Accounts
Inventory Values Are Affected : Yes
Cost Centers Are Applicable : Yes
Is GST Applicable : Yes
Nature of Transaction : Sales Taxable
Integrated Tax : 5%
Central Tax : 2.5%
State Tax : 2.5%
Press Enter
Type of Supply : Goods
Press Enter
Accept_ yes - Name : CGST
Under: Duties & Taxes
Type of Duty / Tax : GST
Tax Type : Central Tax
Percentage of Calculation : 2.5%
Press Enter
Accept_ Yes - Name : SGST
Under : Duties & Taxes
Type of Duty / Tax : GST
Tax Type : State Tax
Percentage of Calculation : 2.5%
Press Enter
Accept _ Yes
Creating Cost Category
- Gateway of Tally
- Masters
- Create
- Click on “Show More”
- Accounting Masters
- Cost Category
- Click on “Create New”
- Accounting Masters
- Click on “Show More”
- Create
- Masters
- Name : Project – Works
Allocate Revenue Items : yes
Allocate Non-Revenue Items : Yes
Press Enter
Accept_ Yes
Creating Cost Centers
- Gateway of Tally
- Masers
- Create
- Accounting Masters
- Cost Center
- Accounting Masters
- Create
- Masers
- Category : Project – Works
Name : APARTMENT
Under : Primary
Accept _ Yes - Category : Project – Works
Name : VILLA
Under : Primary
Accept_ Yes
Creating Stock Items
- Gateway of Tally
- Masters
- Create
- Inventory Masters
- Stock Item
- Stock Item
- Inventory Masters
- Create
- Masters
- Name : Bricks
Under : Primary
Units : No.s
Accept _ Yes - Name : Natural Sand
Under : Primary
Units : Tons
Accept_ Yes - Name : Cement
Under : Primary
Units : Bags
Accept_ Yes - Name : Ply Wood
Under : Primary
Units : Sq. Ft
Accept_ Yes
CREATING INTRASTATE PURCHASE VOUCHER
- Gateway of Tally
- Transactions
- Vouchers
- Transactions
- Press F9 for Purchase Voucher
- Press CTRL + H for change mode and select “As Voucher”in it, press enter
- Cr. Silver Plus computers <Press enter>
Amount : 30,34,500 - Dr Purchase A/c – 28,90,000
press enter
Now Select the items “Bricks and Sand from the list , and enter the quantity and rate
Then after, select Cost category “Project works from the list, and select Cost centers “Apartments and Villa” from the list, then distribute the amount equally - Dr CGST A/c – 72,250
- Dr SGST A/c – 72,250
