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Record Sale of Mixed Supply Under GST
Record Sale of Mixed Supply Under GST
In case of mixed supply the tax of
the highest-rated item in the bundle is applicable for the bundled unit. You
can record the sale of a mixed supply in Tally.ERP 9 using a sales invoice. For
this, create a new stock item for the bundle of items, with the individual
items as components (BoM).
On this page:
Consider a kit which contains as
below, a watch, a pen, a tie and a wallet as a combo for Rs. 4,000.
In the illustration,
● Watch, Pen, Tie
and Wallet are bundled as a kit.
● The supply of a
tie does not naturally necessitate the supply of other elements (Watch, Wallet,
and Pen) and vice versa.
● The kit is
supplied for a single price. Hence, the supply of this kit is a mixed supply.
To calculate the tax liability on mixed supply, the tax rate
applicable on the goods or services attracting the highest rate of tax, in the
combination of goods and services, will be considered. In this case it is 18%,
the highest tax rate.
Create stock item for the mixed supply with GST details
Create stock items for the products Watch, Wallet, and Pen
with applicable tax. Now for corporate offer, create one more product -
Corporate Kit, as shown below by enabling BOM and description (press F12
Configure to enable options Add description for stock items and Enable
component list details (Bill of Materials):
To create the stock item master for the combo
1. Go
to Gateway of Tally > Inventory Info. > Stock Items
> Create.
2. Create
BOM, and add items which are part of combo kit. In this scenario, each item has
one quantity for one Corporate Kit:
3. Now
enable GST for Corporate Kit, enter the HSN code and tax rate of the item which
has the highest tax rate of among the combo.
Your stock item for the mixed supply is created and ready to
be used in transactions.
Transfer individual items to mixed supply stock item
Since items are procured individually and used to create the
corporate kit. The items need to be transferred to reduce the quantity of
individual items and create stock quantity for the combo kit.
Before transferring the items to corporate kit, the stock
summary will appear as shown:
In Tally.ERP 9 the transfer can be achieved by recording a
stock journal voucher for transfer of items. You have to create a voucher type
under stock journal to record such transaction.
To create voucher type
1. Go
to Gateway of Tally > Inventory Info. > Voucher Type
> Create.
2. Enable
the option Use as a Manufacture Journal?
3. Save
the voucher type.
Now transfer the items to Corporate Kit using newly created
stock journal voucher.
To transfer items to create 10 Corporate kits
1. Go
to Gateway of Tally > Inventory Vouchers > Press Alt +
F7 to select the specific voucher type.
2. Select
Corporate Kit in field Name of the product.
3. Select
Name of BOM.
4. Specify
Qty as 10. Automatically, related items will be moved under the kit as
shown below:
5. Save
the transaction.
After the stock transfer, the stock for the corporate kit is
increased and individual items stock is reduced to the same extent.
Record Sale of Mixed Supply
To record the sale of a mixed supply
1. Go
to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Click
F12: Configure and enable the option Provide additional descriptions
for stock item name? to view the additional description recorded in stock
item master.
3. Select
the applicable tax ledgers (central and state/union territory taxes for local
supply, integrated tax for interstate supply).
4. Save
the transaction.
5. Open
the voucher in alteration mode and click P: Print. The printed
invoice with item description, discount value and GST tax details appears as
shown:
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