To create Sales Voucher
Go to Gateway of Tally > Accounting Vouchers > F8: Sales
Setup:
In F12: Configuration (Sales Invoice Configuration)
Set the option Calculate Tax on current Sub-Total to Yes
Press Alt+I for Item Invoice mode (If the invoice mode is Account invoice).
Enter the date and reference.
Select the Party from the List of Ledger Accounts in Party’s A/c Name.
Select Sales Ledger from the List of Ledger Accounts.
VAT/Tax Class field gets updated as per the VAT/Tax Class selected during Sales ledger Creation.
Select the Stock Item from the List of Items in Name of Item.
Enter the Quantity and the Rate to get the amount in the Amount field.
Select the Output VAT ledger from the List of Ledger Accounts.
Select the TCS ledger from the List of Ledger Accounts and press enter to view TCS Details screen.
In the TCS Details screen, by default the accumulated value of Item value and VAT amount is picked up and displayed as the Gross Amount (can be changed if required). Income Tax is calculated at prescribed rate on the Gross amount.
In TCS - Bill-wise Details for: TCS @ 2.5% section, accept the default bill details for Type of Ref, Name, Due Date, or Credit Days (By default, 7th of the following month) and Amount.
Note: To calculate TCS on Gross amount (Item value and output VAT), ensure the option Calculate Tax on current Sub-Total is set to Yes in F12: Configuration (Sales Invoice Configuration).
Accept the Default Bill Allocation in the Bill-wise Details screen.
Enter Narration, if required.
Press Enter to accept and save.
Similarly check for sale of goods @ Lower/Zero Rate
Sale of Goods Subject to TCS @ Lower Rate
Sale of Goods Subject to TCS @ Nil Rate
'Sale of Goods Subject to TCS' has been shared with
