From Gateway of Tally, go to Accounts Info. Now, under Single Ledger, select the option Create. Now you will see a simple Ledger Creation window in which you will have to enter certain details about the ledger. Name – The first option is the Name of the ledger

First Know about GST

GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

In simple words, GOOD SERVICE TAX (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.

GST is one indirect tax for the entire country.

GST Interstate vs Intrastate Supply Meaning

In GST, the terms interstate and intrastate have tremendous significance in the determination of IGST, CGST or SGST. Interstate supply attracts IGST, while intrastate supply attracts CGST and SGST. In this article, we look at the definition of interstate supply and intrastate supply as per the GST Act.