GST Registration Process – TallyPrime

GST registration is mandatory for most businesses in India. It involves obtaining a unique Goods and Services Tax Identification Number (GSTIN) from the tax authorities. Once registered, businesses can legally collect GST from customers, claim Input Tax Credit (ITC), and file GST returns

Why is GST Registration Important?

1. Legal Requirement: Businesses with a certain turnover threshold must register for GST to comply with tax laws.
2. Input Tax Credit: Registered businesses can claim ITC, reducing their tax liability.
3. Customer Trust: GST registration lends credibility to a business, as it implies compliance with tax regulations.

GST Registration Process in Tally Prime: Step by Step

Let’s explore how to register for GST in Tally Prime, starting from the basics.

Step 1: Update Tally Prime

Ensure you are using the latest version of Tally Prime to access the latest GST features and updates.

Step 2: Prepare Required Documents

Before beginning the GST registration process, gather the necessary documents, including:

• PAN card
• Aadhar card
• Business address proof
• Bank account details
• Passport-sized photographs

Step 3: Enable GST in Tally Prime

To enable GST in Tally Prime:

• Go to “Gateway of Tally.”
• Select “F11: Features.”
• Enable GST by setting “GST-Enabled” to “Yes.”

Step 4: Start the GST Registration Process

• Go to “Gateway of Tally.”
• Select “Statutory Reports.”
• Choose “GST.”
• Click on “GST Registration” under “Masters.”

Step 5: Fill in Registration Details

• Enter your business details, including the legal name, trade name, and PAN.

Step 6: Enter the Principal Place of Business

• Fill in the address of your principal place of business, including the state and pin code.

Step 7: Provide Additional Place of Business Details (if applicable)

• If your business operates from multiple locations, add the details for each location.

Step 8: Enter Bank Account Details

• Provide your bank account details, including the account number and IFSC code.

Step 9: Upload Documents

• Upload the required documents, including PAN card, Aadhar card, and address proof.

Step 10: Verify and Submit

• Review all the entered information for accuracy.
• Once verified, click “Submit” to initiate the GST registration process.

Step 11: Await the GSTIN

• After submission, the tax authorities will process your application and provide you with a unique GSTIN.

Step 12: Update GSTIN in Tally Prime

• Once you receive your GSTIN, update it in Tally Prime to start using it for invoicing and tax filing.

Example of GST Registration in Tally Prime

Let’s consider an example:

Your business, ABC Enterprises, has decided to register for GST. You’ve gathered the necessary documents, including your PAN card and Aadhar card. Here’s how you would initiate the GST registration process in Tally Prime:

1. Access the GST registration module in Tally Prime.
2. Enter the business details, including the legal name, trade name, and PAN.
3. Provide the address of your principal place of business.
4. Add any additional place of business details if your business operates from multiple locations.
5. Enter your bank account details, including the account number and IFSC code.
6. Upload the required documents, such as your PAN card, Aadhar card, and address proof.
7. Review all the entered information for accuracy and click “Submit” to initiate the GST registration process.
8. Await your GSTIN from the tax authorities.
9. Once you receive your GSTIN, update it in Tally Prime to start using it for invoicing and tax filing.