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VAT Classifications

You can create user defined classification with VAT details.

1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > VAT Classifications > Create .

2. Click F12: Configure to enable the required options. In the configuration screen,

o Set the options Enable nature of transaction? to Yes .

o Press Ctrl+A to accept the configuration.

3. Enter the Name of the new classification.

4. Enter the applicability dates with the corresponding tax rates in Applicable From and Tax rate columns, respectively.

Note: Click L : Details to view the VAT Rate Details screen, and to specify different VAT rates with separate Applicable From dates.

5. Select the required Nature of Transactions .

6. Enter the details in the respective columns. The Stat Classification Creation screen appears as shown below:

7. Press Enter to save.

Click here for options provided in VAT Classification master of some of the VAT states, as per state specific requirements of VAT/CST returns and annexures.