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.
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