29 September 2023
Hello experts! I hope you all are having a great day.
My query is regarding the Multi-GSTIN feature that is made available in the latest version of Tally Prime 3.0.
My firm has three registrations in total (3 states x 1 registration each). One GSTIN (Haryana) is the major one where most of the work is handled (sale/purchases/expenses) and other two state GSTINs are for sales (branch transfer purchases and sales) only.
After this recent tally change, I merged the two minor GSTIN data in the Haryana tally company but now my CA is telling me to de-merge/separate the books again and have asked me to keep the books separate only. He informed me that it is mandatory to maintain separate books at each GSTIN location and this consolidation is not legal/allowed in GST laws.
I know that I shouldn't generally doubt our CAs but demerging and maintaining separate companies is a big ask since we have frequent purchases with new items almost everyday, so maintaining the stock items with correct settings becomes labor and time intensive job (this was one of the main reason that I merged the data in the first place) and also we will soon be expanding to new states, so will have to create and maintain even more tally companies.
So, I just need a re-assurance from experts here about whether our CA is correct and if in extreme case, he is misinformed on this topic, what can I inform him/refer to him to read about it to find out the best case scenario to book keeping.
Thank you so much for reading my query! Warm Regards Pushkar
29 September 2023
Consolidated way of managing books of accounts Some companies prefer to maintain all their accounts in one consolidated manner despite having multiple locations or more the one GST registration. This enables them to treat all their multiple business locations as branches under a single umbrella. One consolidated company also enables better data reporting, analysis, and a unified platform to manage the accounts. This becomes a little cumbersome unless you can distinguish invoices branch-wise since the GST return filing is GSTN-wise.
29 September 2023
Hello Seetharaman Sir. Thank you for taking your time to reply to my query. Would you be kind enough to clarify few more doubts?
1. We are a proprietorship, so consolidation is allowed for companies (pvt ltd) only or we can maintain a consolidated company too?
2. Tally Prime 3.0 has the feature to maintain multiple GSTIN now, I am already using separate voucher list for purchases, sales and debit/credit notes but I can make separate list for other categories too (payments, receipts, journal, stock-in/out etc) too if this allows me to maintain just one tally company.
3. Main concern that our CA raised is that he asked me if a GST department officer reaches your other GSTIN location and ask for books, what will you provide it to him since the books are available only at one location (he will penalize for not maintaining books at registered address) and also, how will you share the file separately since an officer won't bother or have technical know-how to understand the separate voucher lists in Tally.
29 September 2023
1 you can maintain consolidated financial with branch wise details. 2 GST return has to be filed GSTIN wise, so treat each GSTIN a separate branch. 3 As suggested by CA maintain separate accounts GSTIN wise. Use the provisions available in Tally.
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