GST Sales & Purchase Preparing Process

Written by IISCM | Feb 6, 2021 4:14:18 AM

Standard Operating Procedure for GST Sales & Purchase Preparing Process:

GST - Goods and Services Tax
SGST - State Goods and Services Tax
CGST -   Central Goods and Services Tax
IGST - Integrated Goods and Services Tax

  • While Preparing for GST, please refer HDFC Statements & QuickBooks Reports
  • Sales need to be send on or before 10th of everything month
  • Purchase need to be send on or before 15th of every month
  • Once we send the both the sales & purchases to Ponibass Sir Team. They will prepare the challan and send back to us for our review.
  • If we pay through bank means, we need take the print out of challan first and then get a sign from Sir with seal.
  • And write a Cheque for the same and get a sign from Sir 
  • And once we submitted to the bank, the bank will process the same.
  • Ensure that our account has a sufficient amount
  • Once done please inform to Ponibass Sir team
  • Or else if we transfer to Ponibass Sir (ICICI Bank) account means, he will take care of everything
  • Follow up with them regarding the filing 
  • Tax need to be paid on or before 20th of every month. Otherwise they will charge as penalty for a every single day

RACI Matrix

GST Sales:

  1. Take all the Sales’s GST of the particular month ( refer the HDFC Statements & QuickBooks Reports)
  2. Need to enter the customer’s Full Name which as same as Invoice in Customer Name Column
  3. If it is corporate means their correct GST Number is must in GSTIN Column
  4. Then enter the Invoice Date
  5. Then the Taxable Value as Base Value (before GST)
  6. Then the GST rate 18% to all
  7. Then the Type of Supply as available in 2 Option. One is Local. Another one is Interstate
  • Local – within Tamil Nadu
  • Interstate – Outside Tamil Nadu
  1. If the type of supply is Local means Just enter Tamil Naduin Place of Supply Column
  2. Or Else if the type of supply is Interstate means enter their city name in that column
  3. If the Type of Supply is Local within Tamil Nadu we need to take as CGST & SGST
  4. Or Else if the type of supply is Interstate means we need to as IGST
  5. For CGST & SGST, we need to split the 18% into 9% for CGST & 9% for SGST
  6. In case of IGST, enter the entire 18% in IGST Column
  7. Then add the total of the taxable value
  8. Once done we please verify with Sir and send to Ponibass Sir team

Sales Preparation Example

GST Purchases:

  1. Take the GST as input in all the purchase of the particular month
  2. Enter the Month of Return 
  3. Then Enter the purchase date in Date Column 
  4. Enter the vendor name, Invoice Number, GST Number 
  5. Enter the Base Value ( before the Tax)
  6. Enter the GST Rate
  7. Enter the Type of Supply
  8. Enter the Place of Supply
  9. Once done all the process and then add the total of the taxable value
  10. Once done please calculate GST which we need to pay for the month
    Formula as below
    GST = Sales – Purchase
  11. Once done please verify with sir and send to Poniboss Sir Team

Purchases Preparation Example
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