Create a Sales Voucher for a taxable stock item according to the following procedure. (The Sales Tax ledger selected in the Sales voucher should be in accordance to the rate specified in the Stock Item master.)
Go to Gateway of Tally > Accounting Vouchers > F8: Sales
Enter the reference number in the Ref field
Select the Party’s A/c Name for e.g., ICC Group of Companies from the List of Ledger Accounts
In the Sales Ledger field, select the required sales ledger, for e.g., Sales @ 10%
On selecting the sales ledger, the Sales Tax Class appears accordingly. In case where the VAT/Tax class is not selected in the ledger master, select the same while invoicing
Select the Name of Item, for e.g., Computer from the List of Items
Enter the Quantity and Rate. The amount will be automatically displayed
Select the Tax ledger, for e.g., Sales Tax @ 10% from the List of Ledger Accounts
Enter the required bill references in the Bill-wise Details screen
Enter the Narration, if required
Press Y or Enter to accept and save the voucher.
Similarly, record a sales entry using Sales @ 5% as VAT/Tax Class. The completed sales entry displays as shown:
Accept the sales voucher.
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