MSEDC – C.C in Tally Prime

Practical Examination

(Tally Prime with GST)

Time: 2 Hours Maximum Marks: 80

Q1. Create and operate a company in Tally Prime for the business “MSEDC Traders” for the month of April 2026 as per the details given below. [40 Marks]

1) Company creation and basic setup:

Create a new company “MSEDC Traders” with appropriate address and financial year starting from 01-04-2026.
Set the base currency to INR and enable GST with suitable dummy GSTIN and state details.

2) Ledger creation:

Create the following ledgers under proper groups:

Capital Account – Proprietor Capital
Bank Account – State Bank of India (Current A/c)
Cash in Hand – Cash
Purchase A/c, Sales A/c
Input CGST, Input SGST, Output CGST, Output SGST (for 9% + 9% GST)
Sundry Debtors – Alpha Enterprises
Sundry Creditors – Beta Suppliers

3) Stock items and units:

Create Unit of Measure: Nos.
Create at least 3 stock items (e.g. Keyboard, Mouse, Monitor) under a group “Computer Accessories” with opening balances and GST rate 18% (9% CGST + 9% SGST).

4) Voucher entries (use dates in April 2026):

Enter at least the following transactions (use your own values for amount and quantity):

Capital introduced by proprietor into bank.
Purchase of goods from Beta Suppliers on credit with GST.
Cash purchase of goods with GST.
Credit sales to Alpha Enterprises with GST.
Cash sales with GST.
Payment to Beta Suppliers by bank including any discount allowed.
Receipt from Alpha Enterprises by bank including any discount received.
Bank charges debited by bank.

5) Display and print reports:

Display and verify: Trial Balance, Stock Summary, Ledger of Alpha Enterprises and GST summary (if available).
Ensure all balances tally and there is no negative stock.

Suggested marks distribution:

Company & feature setup (including GST) – 8
Ledger and stock creation with proper groups – 10
Correct voucher entries for all transactions – 16
Correct final reports (Trial Balance, Stock Summary, GST) – 6

Q2. Using Tally Prime, complete GST, sales, purchase and banking operations for an existing company “MSEDC Services” as per the tasks given below. [40 Marks]

1) GST and party configuration:

Ensure GST is enabled with appropriate registration type and state.
Create or modify at least two party ledgers as regular dealers with proper GSTIN, address and state.

2) Purchase and input GST:

Create necessary ledgers for Purchases, Input CGST, Input SGST and supplier “Sunrise Distributors”.
Record at least two purchase vouchers for services or items with different GST rates (e.g. 12% and 18%).
Verify that input GST is correctly calculated and posted in the tax ledgers.

3) Sales and output GST:

Create a customer ledger “Global Solutions” and required sales and output GST ledgers if not already created.
Record at least two sales vouchers (one credit and one cash) with proper GST classifications and tax breakup.
Display the tax analysis of at least one sales invoice using the Tax Analysis / GST report.

4) Bank, contra and payment entries:

Record a contra voucher for transferring cash to bank (cash deposit).
Pass at least two payment vouchers:
- Bank payment to supplier.
- Payment of any expense (e.g. Rent, Telephone) using bank.
Record one receipt voucher for money received from customer into bank.

5) GST and financial reports:

Generate and view GSTR-1 / GST summary or similar GST return report as available in your version of Tally Prime.
Generate and view the Profit & Loss Account and Balance Sheet as on the last date of your transactions.

Suggested marks distribution:

GST and party configuration – 8
Purchase and sales entries with correct GST posting – 16
Bank, contra, payment and receipt entries – 10
GST and financial reports (correctness and presentation) – 6