1. Company Background & Setup Profile
| Company Name | ABC Traders Pvt. Ltd. |
| Nature of Business | Wholesale & Retail Trading of Consumer Electronics |
| Financial Year | 1st April 2026 to 31st March 2027 (Books Beginning: 01-Apr-2026) |
| Registered Address | Plot No. 42, Commercial Complex, Sector 18, Noida, Uttar Pradesh - 201301 |
| GSTIN | 09AABCU9603R1ZM (State: Uttar Pradesh, Code: 09, Regular Dealer) |
| PAN & TAN | PAN: AABCU9603R | TAN: KNPK01234D |
| Base Currency | ₹ (INR) |
2. Opening Balances (As of 01-Apr-2026)
Enter the following trial balance balances in the Ledger masters before recording current transactions:
| Ledger Name | Group Under | Debit (₹) | Credit (₹) |
|---|---|---|---|
| Capital A/c (Proprietor Rajesh Kumar) | Capital Account | 10,00,000.00 | |
| HDFC Bank Current A/c | Bank Accounts | 4,50,000.00 | |
| Cash in Hand | Cash-in-hand | 1,25,000.00 | |
| Office Furniture & Fixtures | Fixed Assets | 1,80,000.00 | |
| Computer & Printers | Fixed Assets | 95,000.00 | |
| M/s Delta Electronics (Supplier) | Sundry Creditors | 2,50,000.00 | |
| Metro Retail Hub (Customer) | Sundry Debtors | 4,00,000.00 | |
| TOTAL OPENING BALANCE | Balanced Trial Balance | ₹12,50,000.00 | ₹12,50,000.00 |
3. Opening Inventory Masters & Quantities
| Stock Item | Stock Group | Unit | HSN Code | GST Rate | Qty | Rate (₹) | Value (₹) |
|---|---|---|---|---|---|---|---|
| Samsung 43" Smart LED TV | Television | Nos | 8528 | 18% | 10 Nos | 22,000.00 | 2,20,000.00 |
| LG 1.5 Ton 5-Star Split AC | Air Conditioners | Nos | 8415 | 28% | 6 Nos | 30,000.00 | 1,80,000.00 |
| Total Opening Stock Value | ₹4,00,000.00 | ||||||
4. Month 1 Practical Transactions (April 2026)
| Date | Transaction Description | Voucher Type | Key Accounting Details |
|---|---|---|---|
| 02-Apr-2026 | Deposited cash ₹50,000 into HDFC Bank Current Account. | F4 Contra | Dr: HDFC Bank A/c, Cr: Cash in Hand |
| 05-Apr-2026 | Purchased 15 Nos Samsung 43" LED TVs @ ₹21,500/No from Sony Enterprises (Delhi - 07, Inter-state) on credit. Supplier Inv # SE/449. Applicable IGST 18%. | F9 Purchase | Item: Samsung TV (₹3,22,500) + IGST 18% (₹58,050). Total: ₹3,80,550. Party: Sony Enterprises. |
| 08-Apr-2026 | Sold 8 Nos Samsung 43" LED TVs @ ₹28,000/No to Metro Retail Hub (Noida - Local B2B). Bill # ABC/001. Applicable CGST 9% + SGST 9%. | F8 Sales | Taxable: ₹2,24,000 + CGST 9% (₹20,160) + SGST 9% (₹20,160). Total: ₹2,64,320. |
| 11-Apr-2026 | Issued Debit Note to Sony Enterprises for 1 No defective Samsung TV returned @ ₹21,500 + IGST 18%. | Alt+F5 Debit Note | Dr: Sony Enterprises (₹25,370), Cr: Purchase Returns & IGST Reversal. |
| 15-Apr-2026 | Received NEFT payment of ₹3,50,000 from Metro Retail Hub against old opening balance bill. | F6 Receipt | Dr: HDFC Bank (₹3,50,000), Cr: Metro Retail Hub (Agst Ref). |
| 18-Apr-2026 | Paid Delta Electronics ₹2,00,000 by HDFC Bank cheque # 400101 against opening bills. | F5 Payment | Dr: Delta Electronics (₹2,00,000), Cr: HDFC Bank (Cheque # 400101). |
| 22-Apr-2026 | Sold 3 Nos LG Split AC @ ₹42,000/No for immediate cash with CGST 14% + SGST 14%. | F8 Sales | Taxable: ₹1,26,000 + CGST 14% (₹17,640) + SGST 14% (₹17,640). Party: Cash. Total: ₹1,61,280. |
| 25-Apr-2026 | Issued Credit Note to Metro Retail Hub for price rebate of ₹4,000 + CGST/SGST on Invoice # ABC/001. | Alt+F6 Credit Note | Dr: Sales Discount/Rebate + GST, Cr: Metro Retail Hub. |
| 28-Apr-2026 | Paid showroom monthly rent ₹35,000 via HDFC Bank NEFT. Landlord PAN provided; TDS @ 10% u/s 194I deducted. | F7 + F5 | Dr: Rent Expense (₹35,000), Cr: TDS Payable (₹3,500), Cr: Landlord/Bank (₹31,500). |
| 30-Apr-2026 | Provided for April staff salary ₹65,000 payable in May. | F7 Journal | Dr: Salary Expense (₹65,000), Cr: Salary Payable A/c (₹65,000). |
| 30-Apr-2026 | Recorded Bank reconciliation: Cheque # 400101 issued on 18th April cleared in bank on 29th April. Bank credited ₹1,450 interest and debited ₹420 annual charges on 30th April. | Banking & F5/F6 | Set bank date in BRS. Enter bank charges payment and interest receipt entries. |
5. The 23 Project Milestones Checklist
Tick off each milestone in your browser as you perform it in TallyPrime:
ABC Traders Practical Submission Checklist
0 / 23 Completed
6. Expected Final Audit Benchmarks (Solution Verification Key)
| Audit Report | Benchmark Value | Verification Criteria |
|---|---|---|
| Trial Balance Total | Balanced | Total Debits must strictly equal Total Credits with zero 'Diff. in Opening Balances'. |
| HDFC Bank Ledger Balance | ₹5,64,030.00 | After deposit, customer receipt, vendor payment, rent, charges, and interest. |
| Closing Stock Value | ₹4,59,000.00 | 16 Nos Samsung LED TVs @ ₹21,500 + 3 Nos LG Split ACs @ ₹30,000 (FIFO valuation). |
| GSTR-3B Eligible ITC | ₹54,180.00 | IGST credit of ₹58,050 less purchase return reversal of ₹3,870. |