GST Composite and Mixed Supply Practical Assignment in Tally

 

GST Composite and Mixed Supply Practical Assignment in Tally

George Distributors Pvt Ltd is distributing various brands of packed wheat flour and detergent soaps.  As it is supplying in bulk, it is charging its customers with Packing and Delivery Charges.  Set-up Tally to calculate GST appropriately on Stock Item and Packing & Delivery Charges as per the GST Act.

Sales with 5% GST – State GST 2.5% and Central GST 2.5%

·       On 1^st April 2019, sold 500 Packets of ‘Wheat Flour 5 Kgs’ at 180 / packet and Packing Charge is 1,000 and Delivery Charges is 2,000 to Jayanti Supermarkets Ltd

 

Sales with 18% GST – State GST 9% and Central GST 9%

·       On 5^th April 2019, sold 1,000 Nos of ‘Detergent Bar 300 Gms at 40 / Nos and Charge is 500 and Delivery Charges is 1,000 to Noble Traders Ltd

 

Sales with a combination of 5% and 18% GST

·       On 10^th April 2019, sold 1,000 Nos of ‘Detergent Bar 300 Gms at 40 / Nos and 500 Packets of ‘Wheat Flour 5 Kgs’ at 180 / packet Packing Charge is 3,000 and Delivery Charges is 5,000 to Noble Traders Ltd

Check how GST on Packing and Delivery charges affected with a selection of stock item having different GST rate.

 

1.1.           Business Scenario II

Manjunath Food Products Ltd packs multiple nuts and dry fruits into 250gms and 500gms packets and sells to its customers.  Each nut is attracting different GST Rates.

Set-up Tally as per GST Act so that multiple GST rate goods are packed and then sold to customers

·       On 1^st Apr 2019, the company purchased below materials from ‘Spectrum Food Products’

Stock Item Name	Qty	Rate	GST Rate
Almonds	200 kgs	750	6%
Cashew Nuts	500 kgs	900	5%
Raisins	200 kgs	190	5%

 

·       On 5^th April 2019, the company manufactured 2,000 packets of ‘Mixed Nuts 250 gms’ having below items

Bill of Material (BOM)	Qty
Almonds	50 gms
Cashew Nuts	150 gms
Raisins	50 gms

 

·       On 10^th April 2019, the company sold 500 packets of ‘Mixed Nuts 250 gms’ at 225/pkt plus GST to Mahaveer Stores

 

1.2.           business scenario iii

Manjunath Food Products Ltd exports goods to other countries, set up Tally and do export sales for GST.

·       On 20^th April, the company exported 1,000 packets of ‘Mixed Nuts 250 gms’ for $ 4 @ 70/$ to Chandarana Stores Ltd, Nairobi, Kenya

 

1.3.           business scenario iv

Manjunath Food Products Ltd deals in fresh Areca Nuts which are not dried of peeled, it is ‘Zero Rated’ GST bracket.  Set-up Tally to prepare invoices with ‘Bill of Supply’ title.

·       On 21^st April 2019, company sold 1,00 kgs of Fresh Areca Nuts at 500/kg to Seetha Groups

 OUTCOME

Below are the outcomes after setting up batches, mfg date and expiry dates as per business scenarios, this is for your reference to ensure that you have done it properly.

 

2.1.           business scenario i

            Packing and Delivery Charges with 5% GST Rate

                      Tax Analysis for 5% GST Rate

Packing and Delivery Charges with 18% GST Rate

Tax Analysis for 18% GST Rate

  Tax Analysis for combination of 5% & 18% GST Rate

Sale Invoice of a stock item packed of multiple GST Rates items

Tax Analysis of Packed Stock Item

Export Invoice

Bill of Supply