How to record payment received from 2 GSTIN of Same Party

This query is : Resolved

Sanchit (Querist)
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02 March 2022 Dear Sir,
We have received a consolidated Payment from 1 Party who is registered in 2 States with 2 GSTIN and we have raised invoices on both the GSTIN, I just want to know how to record this in Tally Prime

c.bakshi

c.bakshi (Expert)
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03 March 2022 you have to adjust the payment as per your ledger/invoices

Sanchit

Sanchit (Querist)
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16 March 2022 Can i open 2 Ledger with different Address (In same State) with Same GSTIN of 1 Party in Tally Prime.
Will it be legitimate as my books are going for Scrutiny to IT Deptt.
Please Clarify

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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28 July 2024 When dealing with payments from a party who is registered with two different GSTINs (one in each state), you need to ensure proper recording and reconciliation in your accounting system. Here's how you can handle this in Tally Prime:

### **1. Setting Up Ledgers and Recording Transactions**

**1.1. Create Separate Ledgers for Each GSTIN**
- **Navigate to**: Gateway of Tally → Accounts Info → Ledgers → Create.
- **Create Ledger 1**:
- **Name**: [Party Name] GSTIN State 1
- **Under**: Sundry Debtors
- **GSTIN**: Enter GSTIN for State 1.
- **Address**: Address for State 1.
- **Create Ledger 2**:
- **Name**: [Party Name] GSTIN State 2
- **Under**: Sundry Debtors
- **GSTIN**: Enter GSTIN for State 2.
- **Address**: Address for State 2.

**1.2. Record Invoice Receipts**
- **Navigate to**: Gateway of Tally → Display → Day Book → Select Date.
- **Record the Receipt**:
- **Choose the Receipt Voucher** (F6).
- **Select Ledger**: Choose the appropriate ledger created for the respective GSTIN.
- **Enter the Payment Amount**: Input the amount received.
- **Reference the Invoice Numbers**: You can add a reference to the invoice numbers or attach documents if required.

**1.3. Record Consolidated Payment**
- **Navigate to**: Gateway of Tally → Accounting Vouchers → Receipt Voucher.
- **Select Ledger for State 1**:
- **Dr.** [Party Name] GSTIN State 1
- **Select Ledger for State 2**:
- **Dr.** [Party Name] GSTIN State 2
- **Credit**: Bank/Cash account where the payment was received.

### **2. Handling Multiple GSTINs for the Same Party**

- **Legitimacy**: Yes, you can have multiple ledgers for the same party if they are registered with different GSTINs. Ensure that each ledger reflects the correct GSTIN and address. This helps in maintaining accurate records and simplifies GST compliance.

- **Address in Tally**: You should enter the correct address associated with each GSTIN. This ensures proper identification and adherence to GST regulations.

### **3. Accounting for GST Compliance**

- **Ensure Correct GST Filing**: When recording payments and invoices in Tally, make sure they align with GST returns. The details of GSTINs and the corresponding invoices should be accurate and reflect correctly in your GST returns.

- **Reconciliation**: Regularly reconcile your GST reports to ensure that there are no discrepancies between your accounting records and GST filings.

### **4. Addressing IT Department Scrutiny**

- **Maintain Documentation**: Keep all supporting documents related to the transactions, such as invoices and payment receipts, properly filed.
- **Audit Trail**: Ensure that your entries are clear, with proper references and notes if necessary. This helps in creating a transparent audit trail for scrutiny.
- **Consult a Professional**: If you are unsure about the handling or the details required for compliance, consult a tax professional or auditor to ensure all aspects are covered correctly.

By following these steps, you can accurately record and manage payments from a party with multiple GSTINs in Tally Prime, ensuring compliance with GST regulations and maintaining clear records for scrutiny.